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    2045 14th Ave Vero Beach, FL 32960-3441
    Property profile & analytics

    2045 14th Ave Vero Beach, FL 32960-3441

    View on Map
    • Office buildings
    • 7,693 SF
    • 0.28 lot acres
    Off-Market
    Property ID
    US18-0656828
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • USI Insurance Services / Insurance Agency
    • Amber Kaser Rehabilitative Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 2045 14th Ave

    Year built
    1969
    Construction
    WOOD
    Lot size
    0.28 lot acres
    Property size
    7,693 SF
    Zone code
    DTW
    Property type
    Office buildings
    APN
    33-39-02-00001-0460-00000.1
    APU
    9223372036854775807

    Description

    This exceptional mixed-use property, located at 2045 14th Ave in Vero Beach, Florida, presents a compelling investment opportunity. The 16,292 square foot building, constructed in 1969, is situated on a prime downtown lot encompassing two-thirds of a city block, offering significant redevelopment potential. Currently configured as a blend of office, retail, gym, and residential spaces across two buildings, the property boasts approximately 60 adjacent parking spaces. The unique concrete rooftop provides an expansive area ideal for outdoor dining or entertainment. The property's location directly on 14th Avenue, just north of Route 60, places it within the Vero Beach downtown zoning district, allowing for building heights up to 50 feet. This presents a rare chance to capitalize on the vibrant Vero Beach market, with the flexibility to renovate or redevelop this substantial property to meet diverse needs. The asking price is $4,000,000, translating to $245.52 per square foot. The single-story building offers a versatile layout suitable for a variety of commercial uses, including creative office, medical office, and traditional office spaces. This is a remarkable opportunity to acquire a significant property in a thriving Florida location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,287,000
      Market price range: $804k - $1.89M
      AI Estimate
      $799,000
      Market price range: $421k - $1.25M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,410,000
      Current use
      RETAIL STORES
      $1,400,000
      Change: -1% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,330,000
      Change: -6% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,130,000
      Change: -20% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3997
    Latitude
    27.6395
    CBSA code
    42680
    CBSA name
    SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,053
    $105,524
    $540,227
    $645,751
    -
    $105,524
    $540,227
    $645,751

    Comparable in this City

    • Value Estimation
      $3,275,000
      23,040 SF

      2300 3rd Ct

      OFFICE BUILDING • 23,040 SF
      2300 3rd Ct, Vero Beach, FL 32960-5168
      View Details
    • Value Estimation
      $10,680,000
      124,813 SF

      405 24th St

      OFFICE BUILDING • 124,813 SF
      405 24th St, Vero Beach, FL 32960-7500
      View Details
    • Value Estimation
      $2,780,000
      14,424 SF

      3775 20th St

      OFFICE BUILDING • 14,424 SF
      3775 20th St, Vero Beach, FL 32960-2401
      View Details
    • Value Estimation
      $570,000
      5,880 SF

      4014 43rd Ave

      OFFICE BUILDING • 5,880 SF
      4014 43rd Ave, Vero Beach, FL 32960-1820
      View Details
    • Value Estimation
      $560,000
      4,208 SF

      1601 20th St

      OFFICE BUILDING • 4,208 SF
      1601 20th St, Vero Beach, FL 32960-3565
      View Details
    • Value Estimation by Request
      1,710 SF

      1925 20th St

      OFFICE BUILDING • 1,710 SF
      1925 20th St, Vero Beach, FL 32960-3571
      View Details

    Similar Nearby for Sale

    • $3,500,000
      7,744 SF

      Class A Office Building

      Fully leased, new construction office building with high-end amenities.
      1745 20Th St, Vero Beach, FL 32960
      View Details
    • $849,000

      Downtown Commercial Building For Sale

      Freestanding commercial building in prime downtown location with growth potential.
      2145 15Th Ave, Vero Beach, FL 32960
      View Details
    • $699,000

      Office Building with Vacant Unit

      Office building with tenant and ready-to-occupy unit for sale.
      859 16Th Pl, Vero Beach, FL 32960
      View Details
    • $2,199,000

      Iconic Office Building in Vero

      Freestanding office building in downtown Vero Beach redevelopment district.
      1708 21St St, Vero Beach, FL 32960
      View Details
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    Vero Beach, FL 32960-3441
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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