Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Retail space
1878 Old Dixie Hwy Vero Beach, FL 32960-3671
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US19-0704643
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,780 SF
Lot
0.43 ac (18,731 SF)
Zoning code
M
APN
33-39-02-00009-0020-00003.0
UPID
US19-0704643
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
-
Ryan A. Jones & Associates Property Management Company Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$965k
CAP Approach
CAP
$1.00M
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.01M
Owner & transaction history
Rajsej Properties LLC · 2 yrs held
Rajsej Properties LLC
since 2023
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
M · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.6M
+28.8%
Auto repair, garage
$1.5M
+19.2%
Office building
$1.2M
+0.5%
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
$995,000
ML approach
$965,000
CAP Approach
CAP Return
Estimation
6%
$1,085,000
6.5%
$1,000,000
7%
$930,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,235,000
Current use
MEDICAL BUILDING
$1,590,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,470,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$1,240,000
Change: +1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,175,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$995,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±10% · vs last sale $1.20M (Sep 1 2023)
Last sale anchor
$1.20M
Sep 1 2023
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
$148 / 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
$8,820
Tax year 2023
Assessed value
$452,039
Assessed 2023
Previous assessed
$458,856
-1.5% YoY
Effective rate
1.95%
On assessed value
Assessed land
$127,350
Assessed improvement
$324,689
Land market value
$127,350
Improvement market value
$324,689
Total market value
$452,039
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Total area
6,780 SF
Lot
0.43 ac (18,731 SF)
Zoning code
M
APN
33-39-02-00009-0020-00003.0
UPID
US19-0704643
Jurisdiction
INDIAN RIVER
Zoning & alternative use
M · Vero Beach, FL
Zoning M · permitted uses
M · 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
RETAIL STORES Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$995,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Rajsej Properties LLC
Entity
Mailing address
PO BOX 34, VERO BEACH, FL 32961-0034
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2023
$1,200,000
Rajsej Properties LLC
Old Dixie Venture LLC
Warranty Deed
$1,020,000 · South State Bank NA
Sep 2, 2005
$675,000
Old Dixie Venture LLC
Gilbert,brian & Gloria
Warranty Deed
—
Oct 21, 2002
$250,000
Brian Gilbert
Howard,tr
Grant Deed
$200,000 · Howard Trust
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 1878 Old Dixie Hwy?
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.
