Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$12,825,000
Warehouses
1755 37th St Vero Beach, FL 32960-4812
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-4595443
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Construction
STEEL FRAME
Total area
69,375 SF
Lot
4.5 ac (196,020 SF)
Zoning code
MED
APN
32-39-35-00000-1000-00002.0
UPID
US18-4595443
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
-
Audrey Holmes Physician
-
THOMAS WAYNE LEWIS Physician
-
Palm Garden of Vero Beach Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.09M
Comparable Approach
Comparable
$14.64M
Blend (final)
Blend
$12.83M
Owner & transaction history
Pgver Re LLC · 2 yrs held
Pgver Re LLC
since 2024
Last sale
$12.8M
7 recorded transactions
Zoning & alternative use
MED · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$16.3M
+59.8%
Auto repair, garage
$15.1M
+47.9%
Office building
$12.7M
+24.7%
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%
$12,015,000
6.5%
$11,090,000
7%
$10,295,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,180,000
Current use
MEDICAL BUILDING
$16,265,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,050,000
Change: +48% · Conversion: Easy
OFFICE BUILDING
$12,695,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$12,630,000
Change: +24% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,000,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$12.83M
Range $11.54M – $14.11M · ±10% · vs last sale $12.78M (Mar 12 2024)
Last sale anchor
$12.78M
Mar 12 2024
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
$185 / 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
$90,887
Tax year 2023
Assessed value
$5,529,245
Assessed 2023
Previous assessed
$5,663,490
-2.4% YoY
Effective rate
1.64%
On assessed value
Assessed land
$999,702
Assessed improvement
$4,529,543
Land market value
$999,702
Improvement market value
$4,529,543
Total market value
$5,529,245
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Total area
69,375 SF
Lot
4.5 ac (196,020 SF)
Zoning code
MED
APN
32-39-35-00000-1000-00002.0
UPID
US18-4595443
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
WAREHOUSE, STORAGE Current
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$16.3M
AUTO REPAIR, GARAGE
Est. value
$15.1M
OFFICE BUILDING
Est. value
$12.7M
RETAIL STORES
Est. value
$12.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.0M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
4.5 ac
Current owner
From public records · entity-resolved
Pgver Re LLC
Entity
Mailing address
14400 METCALF AVE STE #300, OVERLAND PARK, KS 66223-2989
Ownership since
2024
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
Jun 12, 2024
$12,781,332
Pgver Re LLC
Florida Convalescent Centers INC
Warranty Deed
$13,368,100 · Regions Bank
Jun 12, 2024
—
Longhorn Properties LLC
Pgver Re LLC
Lease
—
Oct 10, 2016
—
Florida Convalescent Centers I
—
Deed
related
$125,000,000 · Capital One NA
Nov 8, 2013
—
Longhorn Properties INC
Sa-pg Operator Holdings LLC
Quit Claim Deed
related
—
Apr 3, 2008
—
Convalescent Centers I Florida
Palm Garden Of Vero Bch Trust
Grant Deed
$944,238 · Privatebank & Trust
—
—
Florida Convalescent Centers I
—
Deed Of Trust
related
$85,000,000 · Regions Bk/fayette
—
—
Florida Convalescent Centers I
—
Loan Modification
related
$125,000,000 · Capital One 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.
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 1755 37th St?
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.
