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Property profile & analytics
FOR SALE
Office buildings
1615 14Th Ave Vero Beach, FL 32960
Entity Owned
7-yr Hold
Free & Clear
Property ID
US18-4298453
For Sale
1 / 36
$5,900,000
1615 14Th Ave, Vero Beach, FL 32960
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,161 SF
Lot
0.57 ac (24,829 SF)
Zoning code
C-1
APN
33-39-01-00047-0300-00005.0
UPID
US18-4298453
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
-
C & L Associates Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.05M
Blend (final)
Blend
$1.80M
Owner & transaction history
Citrus Plaza LLC · 7 yrs held
Citrus Plaza LLC
since 2018
1 recorded transaction
Zoning & alternative use
C-1 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
nation of interpretation of this table. 2. Abbreviations: P = Permitted by Right C = Allowed with a Conditional Use Permit Blank = Use not allowed Allowed uses Commercial Districts: Use s Types B-1 B-2 B-3 B-4 C-1A C-1B C-1 Use Specific Standards Residential Uses - Dwellings Dwellings, live/work unit P Standards in Sec. 67.02(c) apply Dwellings, multiple-fam…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
121.34 ac
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
WAREHOUSE, STORAGE
$2,810,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$94 / 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
$18,466
Tax year 2023
Assessed value
$1,027,400
Assessed 2023
Previous assessed
$1,016,670
+1.1% YoY
Effective rate
1.80%
On assessed value
Assessed land
$170,000
Assessed improvement
$857,400
Land market value
$170,000
Improvement market value
$857,400
Total market value
$1,027,400
Applied tax rate
8.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
19,161 SF
Lot
0.57 ac (24,829 SF)
Zoning code
C-1
APN
33-39-01-00047-0300-00005.0
UPID
US18-4298453
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-1 · Vero Beach, FLZoning C-1 · permitted uses
C-1 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
nation of interpretation of this table. 2. Abbreviations: P = Permitted by Right C = Allowed with a Conditional Use Permit Blank = Use not allowed Allowed uses Commercial Districts: Use s Types B-1 B-2 B-3 B-4 C-1A C-1B C-1 Use Specific Standards Residential Uses - Dwellings Dwellings, live/work unit P Standards in Sec. 67.02(c) apply Dwellings, multiple-family P P P P P Standards in Sec. 67.02(d) apply Dwellings, single-family attached P
Zone name
General Commercial
General category
COMMERCIAL
Zone area
121.34 ac
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$2.8M
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Citrus Plaza LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 5200, VERO BEACH, FL 32961-5200
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2018
$1,400,000
Citrus Plaza LLC
C & L Assocs
Warranty Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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