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Property profile & analytics
FOR LEASE
Medical Office Space
1485 37Th St, Vero Beach, FL 32960
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3107604
For Lease
1 / 5
$30 SF/Yr
1485 37Th St, Vero Beach, FL 32960
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,668 SF
Lot
1.23 ac (53,579 SF)
Zoning code
MED
APN
32-39-35-00000-1000-00001.4
UPID
US18-3107604
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
-
Regina Cocci Geriatric Care Provider Nursing Home
-
Treasure Coast Rehab Hospital Medical Clinic
-
Indian River Medical Medical Clinic
-
Anesthesia and Sleep Medicine Services of Florida, (Phillip A. Nye, M.D.) Medical Clinic
-
Williams Family Medicine Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.75M
Blend (final)
Blend
$3.47M
Owner & transaction history
Tgc Indian River LLC · 3 yrs held
Tgc Indian River LLC
since 2022
7 recorded transactions
Zoning & alternative use
MED · Vero Beach, FL
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,570,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$3.47M
Range $3.12M – $3.81M · ±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
$135 / 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
$44,940
Tax year 2023
Assessed value
$2,758,324
Assessed 2023
Previous assessed
$2,783,329
-0.9% YoY
Effective rate
1.63%
On assessed value
Assessed land
$318,794
Assessed improvement
$2,439,530
Land market value
$318,794
Improvement market value
$2,439,530
Total market value
$2,758,324
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
For Lease
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
25,668 SF
Lot
1.23 ac (53,579 SF)
Zoning code
MED
APN
32-39-35-00000-1000-00001.4
UPID
US18-3107604
Jurisdiction
INDIAN RIVER
Zoning & alternative use
MED · Vero Beach, FL
Zoning MED · permitted uses
MED · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vero Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$5.6M
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
2
Lot
1.23 ac
Current owner
From public records · entity-resolved
Tgc Indian River LLC
Entity
Mailing address
PO BOX 283A, DUXBURY, MA 02331-0583
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2024
—
Tgc Indian River LLC
—
Deed
related
$2,925,000 · Stormfield Capital Funding I LLC A Conne
Oct 28, 2022
—
Tgc Indian River LLC
Indian River Medical Properties LP
Correction Deed
related
—
Aug 6, 2019
$100
Tidegate Capital LLC
Indian Riv Medical Prop LP
Correction Deed
—
Jun 14, 2019
$3,075,000
Tgc Indian River LLC
Indian Riv Medical Prop LP
Grant Deed
$2,500,000 · Daniel J Haas
Jul 1, 2016
$2,150,000
Indian River Medical Properties LP
New North River LLC
Warranty Deed
$1,300,000 · Seacoast National Bank
Sep 6, 2011
—
New North River LLC
—
Deed Of Trust
related
$1,030,000 · Seacoast National Bank
—
—
New North River LLC
—
Deed Of Trust
related
$200,000 · Suntrust Bank NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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