Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$41,110,000
Garden apartment buildings
1210 4th Ter Vero Beach, FL 32960-7033
Entity Owned
23-yr Hold
Free & Clear
Property ID
US18-3901218
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2003
Construction
WOOD
Total area
302,862 SF
Lot
22.39 ac (975,308 SF)
Zoning code
RM-8
APN
33-39-12-00000-1000-00049.0
UPID
US18-3901218
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Palms At Vero Beach Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$49.67M
Comparable Approach
Comparable
$39.18M
Blend (final)
Blend
$41.11M
Owner & transaction history
Palms At Vero Beach LP · 23 yrs held
Palms At Vero Beach LP
since 2002
4 recorded transactions
Zoning & alternative use
RM-8 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ea) 7,057 SF None Height 35 ft. 14 ft. Open Space (Min) 25% 36.5 % Traffic 1,101 ADT 746 ADT Land Use: Commercial Res. Medium Density: 15 du/acre or 30 rooms/acre 10 du/acre Intensity (FAR): 1.0 0.5 Zoning: C-1M RM-8 Density: 30 rooms/acre 8 du/acre Intensity (FAR): 1.0 0.3 Vero Towers Allowed vs. Actual Allowed Actual Density 5 units 42 units In…
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
99.27 ac
Top alternative use upside
Auto repair, garage
$65.7M
+25.4%
Office building
$55.4M
+5.8%
Retail stores
$55.1M
+5.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Vero Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vero Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$53,805,000
6.5%
$49,665,000
7%
$46,115,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$52,380,000
Current use
AUTO REPAIR, GARAGE
$65,705,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$55,425,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$55,145,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$44,440,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$41.11M
Range $37.00M – $45.22M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$136 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,766
Tax year 2023
Assessed value
$11,259,748
Assessed 2023
Previous assessed
$11,280,529
-0.2% YoY
Effective rate
0.27%
On assessed value
Assessed land
$951,575
Assessed improvement
$10,308,173
Land market value
$951,575
Improvement market value
$10,308,173
Total market value
$11,259,748
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
11
Stories
2
Units
263
Total area
302,862 SF
Lot
22.39 ac (975,308 SF)
Zoning code
RM-8
APN
33-39-12-00000-1000-00049.0
UPID
US18-3901218
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-8 · Vero Beach, FLZoning RM-8 · permitted uses
RM-8 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ea) 7,057 SF None Height 35 ft. 14 ft. Open Space (Min) 25% 36.5 % Traffic 1,101 ADT 746 ADT Land Use: Commercial Res. Medium Density: 15 du/acre or 30 rooms/acre 10 du/acre Intensity (FAR): 1.0 0.5 Zoning: C-1M RM-8 Density: 30 rooms/acre 8 du/acre Intensity (FAR): 1.0 0.3 Vero Towers Allowed vs. Actual Allowed Actual Density 5 units 42 units Intensity (Floor Area) 8,423 SF 47,972 SF Height 35 ft. 60 ft. Open Space (Min) 50% 6%
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
99.27 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$52.4M
AUTO REPAIR, GARAGE
Est. value
$65.7M
OFFICE BUILDING
Est. value
$55.4M
RETAIL STORES
Est. value
$55.1M
WAREHOUSE, STORAGE
Est. value
$44.4M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
WOOD
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
11
Units
263
Lot
22.39 ac
Current owner
From public records · entity-resolved
Palms At Vero Beach LP
Entity
Free & Clear · 23 yrs held
Mailing address
PO BOX A3951, CHICAGO, IL 60690-3951
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2002
$1,650,000
Palms At Vero Beach LP
Tanen,nathan
Grant Deed
—
Nov 27, 2002
—
Indian River County (fl)
Tanen,nathan
Grant Deed
related
—
—
—
Palms At Vero Beach LP
—
Deed Of Trust
related
$8,593,065 · Greystone Servicing Corp
—
—
Palms At Vero Beach
—
Deed Of Trust
related
$14,850,000 · Greystone Svcg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1210 4th Ter?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
