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    Property profile & analytics

    8624 63Rd Ave Vero Beach, FL 32967

    • Commercial real estate
    • 4.35 lot acres
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0327566
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 8624 63Rd Ave

    Lot size
    4.35 lot acres
    Property type
    Commercial real estate
    APN
    31392900000500000045

    Description

    This exceptional 4.35-acre vacant land parcel presents a remarkable opportunity for residential development in Vero Beach, Florida. Located at 8624 63rd Ave, Vero Beach, FL 32967 (APN 31392900000500000045), this property is zoned RM-6 and offers convenient access to US Highway 1, the causeway, pristine beaches, championship golf courses, and a wealth of other area amenities. The asking price is $600,000, translating to approximately $137,931 per square foot of land. Given the strong market demand, with comparable developments selling for $500,000 and above, this site represents a compelling investment prospect. Its ideal location and zoning make it suitable for various residential projects, including multifamily developments. The property's size and strategic positioning within Vero Beach ensure significant potential for substantial returns. This is a rare chance to acquire a prime piece of land in a highly sought-after location, poised for immediate development. Don't miss this exceptional opportunity to capitalize on the thriving Vero Beach real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.4554722
    Latitude
    27.7507531

    Comparable in this City

    • $58,000

      9210 102Nd Ave

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    • $37,500

      Vero Beach Commercial Land Investment

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    • $65,000

      Vero Beach Commercial Land Investment

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    • $375,000

      Vero Beach Commercial/Residential Land

      9,148 SF Lot - Prime Location
      8556 106Th Ave, Vero Beach, FL 32967
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    • $1,550,000
      5.00 Acres

      Vero Beach Residential Land

      Prime 5-acre development site, Vero Beach.
      1935 45Th St, Vero Beach, FL 32967
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    • $375,000

      Vero Beach Commercial Land Investment

      9,148 SF Lot - Prime Location
      8566 106Th Ave, Vero Beach, FL 32967
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    Similar Nearby for Sale

    • $58,000

      9210 102Nd Ave

      Land
      9210 102Nd Ave, Vero Beach, FL 32967
      View Details
    • $37,500

      Vero Beach Commercial Land Investment

      9,148 SF Lot, Prime Location
      8546 106Th Ave, Vero Beach, FL 32967
      View Details
    • $65,000

      Vero Beach Commercial Land Investment

      Prime .30-Acre Corner Lot, $65,000
      8415 97Th Ave, Vero Beach, FL 32967
      View Details
    • $375,000

      Vero Beach Commercial/Residential Land

      9,148 SF Lot - Prime Location
      8556 106Th Ave, Vero Beach, FL 32967
      View Details
    • $1,550,000
      5.00 Acres

      Vero Beach Residential Land

      Prime 5-acre development site, Vero Beach.
      1935 45Th St, Vero Beach, FL 32967
      View Details
    • $37,500

      Vero Beach Commercial Land Investment

      9,148 SF Lot, Prime Location
      8536 106Th Ave, Vero Beach, FL 32967
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      Renovated Apartment Near Vero Beach

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      Vero Beach Commercial Land Opportunity

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      Commercial Land for Lease

      Commercial land available for lease in growing retail area.
      5330 Us Highway 1, Vero Beach, FL 32967
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    • $1,100 /Mo
      3,186 SF

      Prime US-1 Commercial Space

      Second-floor office, high visibility.
      8104 Us Highway 1, Vero Beach, FL 32967
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    • $16 SF/Yr
      8,110 SF

      Vero Beach Retail/Office Space

      Prime Vero Beach location, 1,345-5,508 SF available.
      2190 45Th St, Vero Beach, FL 32967
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    • $3 SF/Yr
      36,000 SF

      Vero Beach Industrial Warehouse Space

      13 Suites, 6,000 SF Available, Vero Beach
      3807 65Th St, Vero Beach, FL 32967
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    8624 63Rd Ave
    Vero Beach, FL 32967
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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