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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1355 37th St Ste, Unit 304 Vero Beach, FL 32960-7320

    • Medical offices
    • 5,312 SF
    OFF-MARKET
    Last Sale
    Apr 05, 2023
    $985,000
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    8.8%
    Medical offices
    Location Intelligence
    Property ID
    US18-5245217
    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

    • Ortho Spine America / Orthopedic Clinic / Doctor
    • Tamra Brown / Dentist
    • Dr. Tamra Brown / Dentist
    • SpineCare America / Orthopedic Surgeon
    • Dr. J Atwell / Urologist / Practitioner Service Location

    Property Details for 1355 37th St Ste

    Year built
    2000
    Property size
    5,312 SF
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    32-39-35-00013-0000-00304.0
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $815,000
      ML approach
      $870,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,200,000
      6.5%
      $1,105,000
      7%
      $1,025,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $788,000
      Market price range: $343k - $1.00M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,245,000
      Current use
      AUTO REPAIR, GARAGE
      $1,150,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3987
    Latitude
    27.6597
    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
    $11,844
    $0.00
    $790,000
    $790,000
    -
    $0.00
    $790,000
    $790,000

    Comparable in this City

    • Value Estimation
      $905,000
      24,478 SF

      3725 11th Cir

      DENTAL BUILDING • 24,478 SF
      3725 11th Cir, Vero Beach, FL 32960-4804
      View Details
    • Value Estimation
      $625,000
      18,056 SF

      3745 11th Cir

      DENTAL BUILDING • 18,056 SF
      3745 11th Cir, Vero Beach, FL 32960-4837
      View Details
    • Value Estimation
      $225,000
      925 SF

      633 17th St, Unit 9

      DENTAL BUILDING • 925 SF
      633 17th St, Vero Beach, FL 32960-6236
      View Details
    • Value Estimation
      $265,000
      1,344 SF

      1703 24th St

      DENTAL BUILDING • 1,344 SF
      1703 24th St, Vero Beach, FL 32960-3351
      View Details
    • Value Estimation
      $990,000
      3,822 SF

      1345 36th St

      DENTAL BUILDING • 3,822 SF
      1345 36th St, Vero Beach, FL 32960-4811
      View Details
    • Value Estimation
      $590,000
      20,012 SF

      1265 36th St

      DENTAL BUILDING • 20,012 SF
      1265 36th St, Vero Beach, FL 32960-6574
      View Details

    Similar Nearby for Sale

    • $3,250,000

      Vero Beach Freestanding Medical Office

      Turnkey medical office in high-demand Vero Beach medical corridor.
      3333 20Th St, Vero Beach, FL 32960
      View Details
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      5,676 SF

      Medical Office Building For Sale

      Free-standing medical office building near Cleveland Indian River Hospital.
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      Vero Beach Financial Center

      Fully renovated office building with strong tenant mix and high occupancy.
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    • $775,000

      Vero Beach Professional Office Building

      2400 SF professional building near downtown, courthouse, and beaches.
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      Retail/Manufacturing Building with Loading Dock

      Two-story building with loading dock and parking.
      760 15Th Pl, Vero Beach, FL 32960
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    • $1,150,000

      Central Location Office Space

      Office space with high-end finishes and flexible layout.
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    Similar Nearby for Lease

    • $24 SF/Yr

      Move-in Ready Medical Suite

      Premier Vero Beach location, ideal for medical or specialty use.
      3755 B, Vero Beach, FL 32960
      View Details
    • $45 SF/Yr

      Premier Medical Space for Lease

      Modern medical suites designed for efficiency and patient care.
      1360 36Th St, Vero Beach, FL 32960
      View Details
    • $21 SF/Yr
      1,432 SF

      Move-in Ready Medical Office Suite

      Class A medical office suite near Cleveland Clinic Indian River.
      3730 7Th Ter, Vero Beach, FL 32960
      View Details
    • Contact for pricing
      102,104 SF

      Medical Office Suites for Lease

      Modern medical suites, prime location
      777 37Th St, Vero Beach, FL 32960
      View Details
    • $28 SF/Yr
      10,668 SF

      Vero Beach Medical Office Space

      5,712 SF Medical Office for Sale
      1260 37Th St, Vero Beach, FL 32960
      View Details
    • $29 SF/Yr
      2,622 SF

      Vero Beach Medical Office Suite

      Move-in ready, 2,622 sq ft, prime location.
      1285 36Th St, Vero Beach, FL 32960
      View Details
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    Vero Beach, FL 32960-7320
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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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