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    1201 19th Pl Vero Beach, FL 32960-0631
    Property profile & analytics

    1201 19th Pl, Vero Beach, FL 32960-0631

    View on Map
    • Office buildings
    • 38,472 SF
    • 1.97 lot acres
    Off-Market
    Last Sale Mar 17, 2023
    $10,700,000
    Property ID
    US18-5505665
    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.
    Value Estimations
    $8,775,000
    Show details
    Cap Rate Potential
    4.9%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Skypoint Chiropractic / Vero Beach Chiropractor / Alternative Medicine Practice
    • Megtec Systems Inc / Factory / Industrial Manufacturer
    • Edward Jones - Financial Advisor: Thomas P Kiernan, CFP® / Financial Advisor
    • HR Dynamics / Employment Agency
    • Croom Construction Co / Construction Company

    Property Details for 1201 19th Pl

    Year built
    2005
    Construction
    CONCRETE
    Lot size
    1.97 lot acres
    Zone code
    DTW
    Property type
    Office buildings
    APN
    33-39-02-00007-0110-00001.0
    APU
    9223372036854775807

    Description

    This exceptional commercial property, located at 1201 19th Place in Vero Beach, Florida, presents a unique investment opportunity. Comprising two buildings totaling 40,068 square feet on a 1.97-acre lot, this Class B office complex offers a diverse range of spaces suitable for various business needs. Built in 1972 and extensively renovated in 2023, the property boasts a modern aesthetic while retaining its classic charm. The four-story buildings feature multiple tenancies, with available suites ranging from 100 to 1,293 square feet, catering to businesses of all sizes. The property includes ample parking, a significant advantage in the downtown Vero Beach area. The property is conveniently located in Indian River County, Florida, with easy access to major roadways and local amenities. The versatile space is ideal for medical, traditional, or executive office uses, and also includes a cell tower. Elevators are available for convenient access to all floors. This well-maintained property offers a blend of historical character and modern functionality, making it an attractive option for discerning businesses seeking a prime location in Vero Beach. The property's strategic location and recent renovations ensure a high return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,875,000
      ML approach
      $8,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,320,000
      6.5%
      $6,755,000
      7%
      $6,275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,463,000
      Market price range: $4.02M - $9.46M
      AI Estimate
      $6,026,000
      Market price range: $2.11M - $6.23M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,040,000
      Current use
      MEDICAL BUILDING
      $9,020,000
      Change: +28% Conversion: Easy
      AUTO REPAIR, GARAGE
      $8,345,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $7,005,000
      Change: -1% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $6,655,000
      Change: -6% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,645,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3982
    Latitude
    27.637
    CBSA code
    42680
    CBSA name
    SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $80,682
    $728,119
    $4,139,753
    $4,867,872
    -
    $728,119
    $4,139,753
    $4,867,872

    Comparable in this City

    • Value Estimation
      $3,275,000
      23,040 SF

      2300 3rd Ct

      OFFICE BUILDING
      2300 3rd Ct, Vero Beach, FL 32960-5168
      View Details
    • Value Estimation
      $10,680,000
      124,813 SF

      405 24th St

      OFFICE BUILDING
      405 24th St, Vero Beach, FL 32960-7500
      View Details
    • Value Estimation
      $2,780,000
      14,424 SF

      3775 20th St

      OFFICE BUILDING
      3775 20th St, Vero Beach, FL 32960-2401
      View Details
    • Value Estimation
      $570,000
      5,880 SF

      4014 43rd Ave

      OFFICE BUILDING
      4014 43rd Ave, Vero Beach, FL 32960-1820
      View Details
    • Value Estimation
      $560,000
      4,208 SF

      1601 20th St

      OFFICE BUILDING
      1601 20th St, Vero Beach, FL 32960-3565
      View Details
    • Value Estimation by Request
      1,710 SF

      1925 20th St

      OFFICE BUILDING
      1925 20th St, Vero Beach, FL 32960-3571
      View Details

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    Similar Nearby for Lease

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    Vero Beach, FL 32960-0631
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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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