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Property profile & analytics
FOR LEASE
Office buildings
1991 74Th Ave Vero Beach, FL 32966
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-0450039
For Lease
1 / 10
Contact for pricing
1991 74Th Ave, Vero Beach, FL 32966
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Property summary
AI-generated overview
This single-tenant, 4,990 square foot office space is located at 1991 74th Ave, Vero Beach, FL 32966. Situated in a Class B building constructed in 1991, this ground floor suite offers a spacious environment with high ceilings and numerous windows. The layout includes a large conference room, break room, male and female restrooms, space for 3-4 workstations in an administrative area, a bullpen accommodating 5-8 workstations, and four executive offices. The property is handicap accessible. The building features approximately 63 on-site parking spaces. The zoning is (CN) Neighborhood Commercial District. Utilities include county water and FPL. The property enjoys high traffic visibility, with 29,435 vehicles passing daily (2021 data). The lease rate is $18.50 per square foot, NNN, plus sales tax. The total building size is 14,326 square feet, and this suite is part of a single-story building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,326 SF
Lot
2.83 ac (123,275 SF)
Zoning code
CN
APN
33-38-01-00001-0090-00001.1
UPID
US18-0450039
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
-
Seald Sweet International Agricultural Supply Food Market
-
Lemnature Aquafarms Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.52M
Comparable Approach
Comparable
$3.29M
Blend (final)
Blend
$2.57M
Owner & transaction history
Lucca Realty Group LLC · 11 yrs held
Lucca Realty Group LLC
since 2014
4 recorded transactions
Zoning & alternative use
CN · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.4M
+15.1%
Auto repair, garage
$3.1M
+4.1%
Retail stores
$3.1M
+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%
$2,725,000
6.5%
$2,515,000
7%
$2,335,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,985,000
Current use
MEDICAL BUILDING
$3,435,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,110,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$3,090,000
Change: +3% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,695,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$2.57M
Range $2.31M – $2.83M · ±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
$179 / 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
$24,960
Tax year 2023
Assessed value
$1,657,226
Assessed 2023
Previous assessed
$1,662,325
-0.3% YoY
Effective rate
1.51%
On assessed value
Assessed land
$419,737
Assessed improvement
$1,237,489
Land market value
$419,737
Improvement market value
$1,237,489
Total market value
$1,657,226
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
For Lease
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
14,326 SF
Lot
2.83 ac (123,275 SF)
Zoning code
CN
APN
33-38-01-00001-0090-00001.1
UPID
US18-0450039
Jurisdiction
INDIAN RIVER
Zoning & alternative use
CN · Vero Beach, FLZoning CN · permitted uses
CN · 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
$3.0M
MEDICAL BUILDING
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
1
Lot
2.83 ac
Current owner
From public records · entity-resolved
Lucca Realty Group LLC
Entity
Free & Clear · 11 yrs held
Mailing address
774 WOODLAWN AVE, HAMMONTON, NJ 08037-1852
Ownership since
2014
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
Oct 2, 2014
$2,000,000
Lucca Realty Group LLC
Univeg America Co
Warranty Deed
—
Sep 15, 2005
—
Belflor INC
—
Trustees Deed
related
$1,000,000 · Riverside National Bank
Aug 17, 2004
$1,600,000
Belflor INC
Seald Sweet LLC
Warranty Deed
—
—
—
Belflor INC
—
Deed Of Trust
related
$1,000,000 · 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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