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Property profile & analytics
OFF-MARKET
Estimated value
$2,830,000
Assisted living facilities
1934 22nd Ave, Vero Beach, FL 32960-3084
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-0519245
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,758 SF
Lot
0.65 ac (28,314 SF)
Zoning code
RM-10/12
APN
33-39-02-00016-0020-00010.0
UPID
US18-0519245
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
-
Green Gables Assisted Living Nursing Home Retirement Community
-
Spring Hills Assisted Living Facility Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.83M
Owner & transaction history
3784 LLC · 4 yrs held
3784 LLC
since 2022
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
RM-10/12 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+846.2%
Industrial (general)
$1.9M
+651.6%
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
$2,955,000
ML approach
$3,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,400,000
Change: +846% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,910,000
Change: +652% · Conversion: Difficult
Blend value · Realmo final
$2.83M
Range $2.55M – $3.11M · ±10% · vs last sale $2.60M (May 9 2022)
Last sale anchor
$2.60M
May 9 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
$290 / 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
$15,926
Tax year 2023
Assessed value
$863,770
Assessed 2023
Previous assessed
$805,343
+7.3% YoY
Effective rate
1.84%
On assessed value
Assessed land
$242,250
Assessed improvement
$621,520
Land market value
$242,250
Improvement market value
$621,520
Total market value
$863,770
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
26
Total area
9,758 SF
Lot
0.65 ac (28,314 SF)
Zoning code
RM-10/12
APN
33-39-02-00016-0020-00010.0
UPID
US18-0519245
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-10/12 · Vero Beach, FL
Zoning RM-10/12 · permitted uses
RM-10/12 · 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
COMMERCIAL (GENERAL)
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
26
Lot
0.65 ac
Current owner
From public records · entity-resolved
3784 LLC
Entity
Mailing address
1739 NW 80TH AVE APT C, MARGATE, FL 33063-2981
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2022
$2,600,000
3784 LLC
Melwood Investments LLC
Warranty Deed
$3,750,000 · Amida Special Opportunity Invertmen
Dec 15, 2017
$2,450,000
Family Extended Care Of Vero B
E & R Vb Ventures LLC
Warranty Deed
—
Jul 1, 2014
$705,000
E & R Vb Ventures LLC
Van-leigh Of Vero Beach LLC
Warranty Deed
$560,000 · Marine Bank & Trust Co
Aug 12, 2002
$725,000
Van-leigh Of Vero Beach LLC
Green Gables Assisted Living
Grant Deed
$712,500 · Riverside National Bank Fl
Aug 24, 1999
—
Gables Assisted Living Green
—
Grant Deed
related
$400,000 · Indian River National Bank
Apr 16, 1999
$43,000
Gables Assisted Living Green
Banack,donna S
Grant Deed
—
—
—
Van-leigh Of Vero Beach LLC
—
Deed Of Trust
related
$200,000 · Riverside National Bank
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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