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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Medical Office Space
1355 37th St Ste 301 Vero Beach, FL 32960-7320
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3855601
Property summary
AI-generated overview
This 5,312-square-foot Class A medical office building in Vero Beach, Florida, is currently available for lease. Located at 1355 37th St, Suite 304, in the Medical Hospital District, this property offers a prime location within walking distance of Cleveland Clinic Indian River Hospital. The building, constructed in 2000, is zoned MED and features a private covered drop-off entrance and ample covered parking. The space is divisible, with a minimum leasable area of 2,000 square feet and a maximum contiguous space of 5,312 square feet. The entire 5,312 square feet is currently vacant. Prominent signage opportunities are available, and the building enjoys excellent visibility along 37th Street. Existing tenants in the building include Vero Implants & Periodontics, Carenet, and Pro Spine & Joint, indicating a strong medical presence in the area. This property presents an exceptional opportunity for medical practices seeking a high-profile location in a thriving medical hub. The property's APN is 32393500013000000401.0, and it is situated in Indian River County, Florida, zip code 32960.
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2000
Total area
4,831 SF
APN
32-39-35-00013-0000-00301.0
UPID
US18-3855601
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
-
Ortho Spine America Medical Clinic
-
Tamra Brown Dental Office
-
Dr. Tamra Brown Dental Office
-
SpineCare America Physician
-
Dr. J Atwell Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.71M
Owner & transaction history
Vero Beach Crisis Pregnancy Center · 3 yrs held
Vero Beach Crisis Pregnancy Center
since 2022
Last sale
$1.7M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,930,000
ML approach
$1,905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,135,000
Current use
AUTO REPAIR, GARAGE
$1,050,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10% · vs last sale $1.70M (Dec 7 2022)
Last sale anchor
$1.70M
Dec 7 2022
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
$354 / 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
$10,772
Tax year 2023
Assessed value
$718,500
Assessed 2023
Previous assessed
$718,500
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed improvement
$718,500
Improvement market value
$718,500
Total market value
$718,500
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Units
1
Total area
4,831 SF
APN
32-39-35-00013-0000-00301.0
UPID
US18-3855601
Jurisdiction
INDIAN RIVER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
2000
Heating
NONE
Stories
1
Units
1
Current owner
From public records · entity-resolved
Vero Beach Crisis Pregnancy Center
Individual
Mailing address
1503 24TH ST, VERO BEACH, FL 32960-3347
Ownership since
2022
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 7, 2022
$1,700,000
Vero Beach Crisis Pregnancy Center
Gabor Karsai
Warranty Deed
$400,000 · Christian Financial Resources INC
May 1, 2001
—
P Lc
Second Millennium Medical Ctr
Quit Claim Deed
related
$861,000 · Suntrust Bank NA
—
—
P Lc
—
Deed Of Trust
related
$650,000 · Seacoast National Bank
—
—
Gabor Karsai
—
Deed Of Trust
related
—
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.
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