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    1890 98Th Ave Vero Beach, FL 32966

    Sponsored
    For Sale
    $10,800,000

    76 Acres, Multi-Use Potential, Opportunity Zone

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 76.56-acre property in Vero Beach, Florida, presents a unique investment opportunity. Currently utilized as an airport with airplane hangars and an airstrip, the site boasts two artesian wells (8-10 inch and 4 inch). Existing buildings total 41,900 square feet, with one structure built in 1973 (9,900 sq ft) and another built in 1973 (32,000 sq ft). The land is zoned A-1 Agricultural, but the county suggests potential rezoning to Industrial, Commercial, or Multi-Family residential (up to 10 units per acre) under the "Live Local Act," contingent upon the developer constructing at least 40% affordable housing. The northern 50.97 acres are designated for Commercial/Industrial use, while the southern 25.59 acres are zoned for Multi-Family development. The property is located within an Opportunity Zone, offering significant tax advantages. County water and sewer are available. The 2023 real estate taxes totaled $16,395.35. The asking price for the entire 76.56-acre property is $10,800,000 ($141,066 per acre); the northern 50.97 acres are also available for separate purchase at $7,645,500 ($150,000 per acre). This versatile property offers substantial development potential in a prime location. The address is 1890 98th Ave, Vero Beach, FL 32966.

    Property Features for 1890 98Th Ave

    General Information

    Property type
    Airport retail
    Lot Size
    3,334,954 SF

    HighLights

    • Located in an Opportunity Zone.
    • 76.56‑acre site; potential for separate sale of 50.97 acres of commercial/industrial land and 25.59 acres of multi‑family land.
    • Airplane hangars, airstrip, and two artesian wells.
    • 41,900 SF of existing buildings (9,900 SF built 1973, 32,000 SF built 1973).
    • A‑1 Agricultural zoning; potential rezoning to Industrial, Commercial, or Multi‑Family (10 units/acre with "Live Local Act" and 40% affordable housing).
    • 2023 Real Estate Taxes: $16,395.35.
    Property Profile Location Intelligence

    Current Use by Public Records

    Treasure Coast Soaring ... Club

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Wholesale Shop Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.527837
    Latitude
    27.63726

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    FAQs

    What type of property is this?
    Airport retail - 76 Acres, Multi-Use Potential, Opportunity Zone
    Where is this airport retail located?
    The property is located at 1890 98Th Ave Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $10,800,000.
    What are key features of this property?
    This property features: Located in an Opportunity Zone.; 76.56-acre site; potential for separate sale of 50.97 acres of commercial/industrial land and 25.59 acres of multi-family land.; Airplane hangars, airstrip, and two artesian wells.
    (772) 778-2334
    Request Owner's contact information
    1890 98Th Ave Vero Beach, FL 32966
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    Vero Beach, FL 32966
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1890 98Th Ave Vero Beach, FL 32966
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