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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Office buildings
1931 98th Ave Vero Beach, FL 32966-3034
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0453595
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,955 SF
Lot
3.62 ac (157,687 SF)
Zoning code
CG
APN
33-38-04-00001-0090-00002.2
UPID
US19-0453595
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
-
Dept of Agriculture State Government Office
-
Plant Industry Division State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$567k
Blend (final)
Blend
$630k
Owner & transaction history
Bhp Of Vero LLC · 6 yrs held
Bhp Of Vero LLC
since 2019
3 recorded transactions
Zoning & alternative use
CG · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$950,000
+15.1%
Auto repair, garage
$860,000
+4.1%
Retail stores
$855,000
+3.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$750,000
6.5%
$695,000
7%
$645,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$825,000
Current use
MEDICAL BUILDING
$950,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$860,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$855,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$159 / 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
$7,070
Tax year 2023
Assessed value
$493,063
Assessed 2023
Previous assessed
$493,063
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$335,085
Assessed improvement
$157,978
Land market value
$335,085
Improvement market value
$157,978
Total market value
$493,063
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
3,955 SF
Lot
3.62 ac (157,687 SF)
Zoning code
CG
APN
33-38-04-00001-0090-00002.2
UPID
US19-0453595
Jurisdiction
INDIAN RIVER
Zoning & alternative use
CG · Vero Beach, FLZoning CG · permitted uses
CG · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$825,000
MEDICAL BUILDING
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$860,000
RETAIL STORES
Est. value
$855,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
3.62 ac
Current owner
From public records · entity-resolved
Bhp Of Vero LLC
Entity
Free & Clear · 6 yrs held
Mailing address
1925 98TH AVE, VERO BEACH, FL 32966-3034
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Nov 22, 2019
—
Bhp Of Vero LLC
Banack Family LP
Quit Claim Deed
related
—
Jul 8, 2019
$100
Lrp Of Vero LLC
Bhp Of Vero LLC
Grant Deed
—
Dec 29, 2006
$1,254,500
Bhp Of Vero LLC
Float-on Corp
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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