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Property profile & analytics
OFF-MARKET
Estimated value
$3,615,000
Garden apartment buildings
1825 40th Ave Vero Beach, FL 32960-0592
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-0519242
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,640 SF
Lot
1.26 ac (54,886 SF)
Zoning code
RCLO
APN
33-39-03-00026-0070-00008.0
UPID
US18-0519242
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.37M
Comparable Approach
Comparable
$3.45M
Blend (final)
Blend
$3.62M
Owner & transaction history
Val Apts LLC · 12 yrs held
Val Apts LLC
since 2014
6 recorded transactions
Zoning & alternative use
RCLO · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this District is to establish development standards which can be implemented in areas of the city that are stagnant or in a state of decline and areas where residential redevelopment activity is needed and desirable, these development standards are designed to preserve and enhance the safety and residential character of neighborhoods while per…
Zone name
Residential Congregate Living And Limited Office
General category
RESIDENTIAL
Zone area
16.20 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$5.8M
+25.4%
Office building
$4.9M
+5.8%
Retail stores
$4.9M
+5.3%
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%
$4,735,000
6.5%
$4,370,000
7%
$4,055,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,605,000
Current use
AUTO REPAIR, GARAGE
$5,780,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$4,875,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$4,850,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,910,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.62M
Range $3.25M – $3.98M · ±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
$136 / 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
$19,826
Tax year 2023
Assessed value
$1,005,053
Assessed 2023
Previous assessed
$1,009,577
-0.4% YoY
Effective rate
1.97%
On assessed value
Assessed land
$82,391
Assessed improvement
$922,662
Land market value
$82,391
Improvement market value
$922,662
Total market value
$1,005,053
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
3
Stories
2
Units
36
Total area
26,640 SF
Lot
1.26 ac (54,886 SF)
Zoning code
RCLO
APN
33-39-03-00026-0070-00008.0
UPID
US18-0519242
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RCLO · Vero Beach, FLZoning RCLO · permitted uses
RCLO · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this District is to establish development standards which can be implemented in areas of the city that are stagnant or in a state of decline and areas where residential redevelopment activity is needed and desirable, these development standards are designed to preserve and enhance the safety and residential character of neighborhoods while permitting adult congregate living facilities (ACLF), community residential homes, nursing homes
Zone name
Residential Congregate Living And Limited Office
General category
RESIDENTIAL
Zone area
16.20 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$5.8M
OFFICE BUILDING
Est. value
$4.9M
RETAIL STORES
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
3
Units
36
Lot
1.26 ac
Current owner
From public records · entity-resolved
Val Apts LLC
Entity
Mailing address
7257 MONTEREAL PATH, LAKE WORTH, FL 33463-5605
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2020
—
Val Apts LLC
—
Deed Of Trust
related
$1,200,000 · Miscellaneous Ins Co
May 9, 2014
$750,000
Val Apts LLC
Family Rentals Of Vero LLC
Warranty Deed
$550,000 · Walt Dinardo
Mar 8, 2012
—
Family Rentals Of Vero LLC
Baer Family Trust
Quit Claim Deed
—
Nov 16, 2009
$950,000
Baer Family Trust
Danant Properties INC
Warranty Deed
—
Nov 18, 2002
$975,000
Danant Properties INC
Vero First Corp
Grant Deed
$780,000 · First Nat'l Bk & Tr Treasure C
—
—
Val Apts LLC
—
Deed Of Trust
related
$1,000,000 · Firstcity Bk/commerce
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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