Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1888 Wilbur Ave Vero Beach, FL 32960-5570

    • Warehouses
    • 1,980 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    7.6%
    Warehouses
    Location Intelligence
    Property ID
    US18-3306859
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 1888 Wilbur Ave

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    1,980 SF
    Zone code
    M
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    33-39-01-00043-0000-00030.0
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $345,000
      6.5%
      $315,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $331,000
      Market price range: $166k - $418k
      AI Estimate
      $170,000
      Market price range: $64.7k - $229k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $290,000
      Current use
      AUTO REPAIR, GARAGE
      $430,000
      Change: +48% Conversion: Easy
      OFFICE BUILDING
      $360,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $360,000
      Change: +24% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3949
    Latitude
    27.6365
    CBSA code
    42680
    CBSA name
    SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,143
    $35,542
    $80,279
    $115,821
    -
    $35,542
    $80,279
    $115,821

    Comparable in this City

    • Value Estimation
      $150,000
      5,580 SF

      925 13th Ln

      MINI-WAREHOUSE, STORAGE • 5,580 SF
      925 13th Ln, Vero Beach, FL 32960-5717
      View Details
    • Value Estimation
      $305,000
      4,400 SF

      1230 16th St

      MINI-WAREHOUSE, STORAGE • 4,400 SF
      1230 16th St, Vero Beach, FL 32960-0414
      View Details
    • Value Estimation
      $320,000
      1,800 SF

      1145 17th Pl

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      1145 17th Pl, Vero Beach, FL 32960
      View Details
    • Value Estimation
      $1,240,000
      353,822 SF

      17 17th St

      MINI-WAREHOUSE, STORAGE • 353,822 SF
      17 17th St, Vero Beach, FL 32960-5676
      View Details
    • Value Estimation
      $2,170,000
      15,695 SF

      1105 Us Hwy 1st 1

      MINI-WAREHOUSE, STORAGE • 15,695 SF
      1105 Us Hwy 1st 1, Vero Beach, FL 32960-5768
      View Details
    • Value Estimation
      $275,000
      4,032 SF

      3929 Us Hwy 1st 1

      MINI-WAREHOUSE, STORAGE • 4,032 SF
      3929 Us Hwy 1st 1, Vero Beach, FL 32960-1550
      View Details

    Similar Nearby for Sale

    • $2,100,000

      Industrial Building on 2.2 Acres

      Industrial building on 2.2 acres, zoned for general industrial.
      926 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • $360,000

      Warehouse/Industrial Condo For Sale

      Single-story warehouse/industrial condo with storage and office space.
      4005 43Rd Ave, Vero Beach, FL 32960
      View Details
    • $999,999

      Manufacturing Building in Downtown Vero

      Manufacturing building with air-conditioned shop space in downtown Vero Beach.
      1245 16Th St, Vero Beach, FL 32960
      View Details
    • $1,500,000

      Retail/Manufacturing Building with Loading Dock

      Two-story building with loading dock and parking.
      760 15Th Pl, Vero Beach, FL 32960
      View Details
    • $3,000,000

      US-1 Frontage Industrial Property

      Industrial property with retail area, workshop, and oversized bays.
      3638 Us Highway 1, Vero Beach, FL 32960
      View Details
    • $399,000

      Vero Beach Mixed-Use Corner Property

      Prime Vero Beach location, high-traffic, flexible zoning.
      1985 31St Ave, Vero Beach, FL 32960
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      Downtown Industrial Property For Rent

      Industrial property with excellent access and updated features available for rent.
      1100 17Th St, Vero Beach, FL 32960
      View Details
    • $12 SF/Yr

      Downtown Industrial Warehouse For Rent

      Industrial warehouse space with road access in downtown Vero Beach.
      1101 18Th Pl, Vero Beach, FL 32960
      View Details
    • $21 SF/Yr

      Vero Beach Climate Controlled Storage

      Newly renovated climate-controlled storage units in central Vero Beach.
      1872 Commerce Ave, Vero Beach, FL 32960
      View Details
    • $12 SF/Yr

      Vero Beach Flex Space

      Flex space centrally located in Vero Beach available for rent.
      1031 18Th St, Vero Beach, FL 32960
      View Details
    • Contact for pricing
      102,104 SF

      Medical Office Suites for Lease

      Modern medical suites, prime location
      777 37Th St, Vero Beach, FL 32960
      View Details
    • Contact for pricing
      51,000 SF

      Vero Beach Retail Anchor Space

      Former Kmart anchor space available for lease in Vero Beach.
      1501 Us Highway 1, Vero Beach, FL 32960
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1888 Wilbur Ave
    Vero Beach, FL 32960-5570
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.