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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Office buildings
2205 14th Ave, Vero Beach, FL 32960-2800
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-5891153
Property summary
AI-generated overview
This exceptional net-leased office building in Vero Beach, Florida presents a rare investment opportunity. Located in the desirable Downtown (DTW) zoning district, this 8,055 square foot, two-story building sits on a 0.43-acre lot with significant street frontage. Built in 1963 and fully renovated in 2019, the property boasts a modern interior and exterior, including a new roof, impact-rated windows and doors, six HVAC systems, a fire suppression system, and fiber optics. The building is currently 100% occupied by a single tenant under a lease extending to July 31, 2030, minimizing landlord responsibilities. Tenant pays all major operating expenses. Amenities include ample private parking, covered outdoor seating, and a private kitchen. The property offers a strong net operating income (NOI) of $232,800, resulting in a 6.48% capitalization rate. The asking price is $3,595,000, translating to $446.31 per square foot. Property taxes for 2023 were $14,108.20. City water and sewer, and FPL utilities are in place. This is a turnkey investment in a thriving downtown location with significant upside potential.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Construction
CONCRETE
Total area
7,536 SF
Lot
0.29 ac (12,632 SF)
Zoning code
DTW
APN
33-39-02-00001-0300-00006.0
UPID
US18-5891153
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
-
Treasure Coast Barter Alternative Medicine Practice
-
Fortis (Florida) Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$1.39M
Owner & transaction history
The Bluedog Building LLC · 7 yrs held
The Bluedog Building LLC
since 2018
2 recorded transactions
Zoning & alternative use
DTW · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+28.1%
Auto repair, garage
$1.6M
+18.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,435,000
6.5%
$1,325,000
7%
$1,230,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,380,000
Current use
MEDICAL BUILDING
$1,765,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,635,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$1,370,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,305,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$1,105,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±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
$184 / 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
$14,696
Tax year 2023
Assessed value
$881,266
Assessed 2023
Previous assessed
$881,675
0.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$63,750
Assessed improvement
$817,516
Land market value
$63,750
Improvement market value
$817,516
Total market value
$881,266
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
1963
Construction
CONCRETE
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
7,536 SF
Lot
0.29 ac (12,632 SF)
Zoning code
DTW
APN
33-39-02-00001-0300-00006.0
UPID
US18-5891153
Jurisdiction
INDIAN RIVER
Zoning & alternative use
DTW · Vero Beach, FL
Zoning DTW · permitted uses
DTW · 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
$1.4M
MEDICAL BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1963
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
The Bluedog Building LLC
Entity
Mailing address
906 SEAGRAPE LN, VERO BEACH, FL 32963-2103
Ownership since
2018
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
Nov 1, 2018
$825,000
The Bluedog Building LLC
Hgx INC
Warranty Deed
$150,000 · Marine Bank & Trust Company
—
—
Bluedog Building LLC
—
Loan Modification
related
$562,500 · Marine Bk
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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