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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Retail space
1892 Commerce Ave Vero Beach, FL 32960-5579
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4064913
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,508 SF
Lot
0.12 ac (5,227 SF)
Zoning code
M
APN
33-39-01-00043-0000-00028.0
UPID
US18-4064913
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
$915k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$855k
Owner & transaction history
Vero Commerce Avenue LLC · 4 yrs held
Vero Commerce Avenue LLC
since 2022
Last sale
$800,000
4 recorded transactions
Zoning & alternative use
M · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$590,000
+28.8%
Auto repair, garage
$545,000
+19.2%
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
$910,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$590,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$545,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±10% · vs last sale $800k (May 27 2022)
Last sale anchor
$800k
May 27 2022
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
$341 / 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
$2,888
Tax year 2023
Assessed value
$137,669
Assessed 2023
Previous assessed
$140,795
-2.2% YoY
Effective rate
2.10%
On assessed value
Assessed land
$27,030
Assessed improvement
$110,639
Land market value
$27,030
Improvement market value
$110,639
Total market value
$137,669
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
2,508 SF
Lot
0.12 ac (5,227 SF)
Zoning code
M
APN
33-39-01-00043-0000-00028.0
UPID
US18-4064913
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
MEDICAL BUILDING
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$545,000
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Vero Commerce Avenue LLC
Entity
Free & Clear · 4 yrs held
Mailing address
356 S SILVER PALM RD, BOCA RATON, FL 33432-7979
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2022
$800,000
Vero Commerce Avenue LLC
W C Lyon Properties LLC
Warranty Deed
—
Mar 15, 2021
—
W C Lyong Properties LLC
—
Deed
related
$175,000 · Marine Bank & Trust Company
Aug 15, 2018
$390,000
Wc Lyon Properties LLC
Raf Commerce Avenue LLC
Warranty Deed
—
Mar 17, 2014
—
Raf Commerce Avenue LLC
Ferretti,richard A SR & Marie A
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.
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