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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Office buildings
1940 10th Ave, Vero Beach, FL 32960-6458
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-5181330
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,665 SF
Lot
0.6 ac (26,136 SF)
Zoning code
MXD
APN
33-39-01-00041-0000-00009.0
UPID
US18-5181330
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
-
Brugnoli Robert PHD Physician Medical Clinic
-
The Sanctuary Massage Massage & Wellness Alternative Medicine Practice Spa & Massage Center
-
Blanchard Insurance Services Insurance Agency
-
Armfield-Wagner Appraisal Inc Real Estate Agency
-
Vero Counseling Services Inc. Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$879k
Blend (final)
Blend
$675k
Owner & transaction history
Wagner Investments Lllp · 16 yrs held
Wagner Investments Lllp
since 2010
2 recorded transactions
Zoning & alternative use
MXD · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,035,000
Current use
RETAIL STORES
$1,030,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$980,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$830,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$119 / 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
$7,603
Tax year 2023
Assessed value
$440,793
Assessed 2023
Previous assessed
$444,066
-0.7% YoY
Effective rate
1.72%
On assessed value
Assessed land
$55,177
Assessed improvement
$385,616
Land market value
$55,177
Improvement market value
$385,616
Total market value
$440,793
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
5,665 SF
Lot
0.6 ac (26,136 SF)
Zoning code
MXD
APN
33-39-01-00041-0000-00009.0
UPID
US18-5181330
Jurisdiction
INDIAN RIVER
Zoning & alternative use
MXD · Vero Beach, FL
Zoning MXD · permitted uses
MXD · 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
OFFICE BUILDING Current
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$980,000
WAREHOUSE, STORAGE
Est. value
$830,000
OFFICE BUILDING Current
RETAIL STORES
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Wagner Investments Lllp
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 791, VERO BEACH, FL 32961-0791
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2010
—
Wagner Investments Lllp
Wagner,richard L
Quit Claim Deed
—
Jan 12, 2009
—
Richard L Wagner
Wagner,richard L
Quit Claim Deed
related
—
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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