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Property profile & analytics
OFF-MARKET
Estimated value
$9,750,000
Office buildings
2300 5th Ave Vero Beach, FL 32960-5169
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US19-0319793
Property summary
AI-generated overview
This exceptional Class A office building, located at 2300 5th Avenue in Vero Beach, Florida's Miracle Mile District, offers immediate occupancy in multiple suites. The 42,000 square foot building sits on 7.01 acres and boasts a total of five suites, with 21,000 square feet currently available. Suite sizes range from approximately 2,770 to 7,616 square feet, providing flexibility for various business needs. Built in 1987 and extensively renovated in 2024, the property features modern design and operational efficiency, including ample covered parking. The building is zoned POI and its Indian River County location (APN: 33390100075000000002.0) provides easy access to a thriving community and a wide range of amenities. This prime location ensures a steady flow of potential clients and is already home to established professional office tenants. The property presents a unique opportunity to establish or expand your business in a highly desirable and convenient setting. Don't miss this chance to secure a professional office space with unparalleled potential in Vero Beach.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
66,989 SF
Lot
7.01 ac (305,356 SF)
Zoning code
POI
APN
33-39-01-00075-0000-00002.0
UPID
US19-0319793
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
-
Alzheimers/Parkinson Association Social Service Agency Charitable Organization
-
FedEx Drop Box Postal Service Courier Service
-
EZ Tax Preparation, Inc. Accounting Firm Tax Preparation
-
Childcare Resources Charitable Organization Social Service Agency
-
Omni Tax Help Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.74M
CAP Approach
CAP
$11.77M
Comparable Approach
Comparable
$9.27M
Blend (final)
Blend
$9.75M
Owner & transaction history
2300 5th Ave LLC · 2 yrs held
2300 5th Ave LLC
since 2023
Last sale
$10.0M
7 recorded transactions
Zoning & alternative use
POI · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$15.7M
+28.1%
Auto repair, garage
$14.5M
+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
$8,295,000
ML approach
$9,735,000
CAP Approach
CAP Return
Estimation
6%
$12,745,000
6.5%
$11,765,000
7%
$10,925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,260,000
Current use
MEDICAL BUILDING
$15,705,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,535,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$12,195,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$11,585,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$9,830,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$9.75M
Range $8.78M – $10.73M · ±10% · vs last sale $10.00M (Nov 16 2023)
Last sale anchor
$10.00M
Nov 16 2023
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
$146 / 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
$81,119
Tax year 2023
Assessed value
$4,651,001
Assessed 2023
Previous assessed
$4,709,183
-1.2% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,297,761
Assessed improvement
$3,353,240
Land market value
$1,297,761
Improvement market value
$3,353,240
Total market value
$4,651,001
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
66,989 SF
Lot
7.01 ac (305,356 SF)
Zoning code
POI
APN
33-39-01-00075-0000-00002.0
UPID
US19-0319793
Jurisdiction
INDIAN RIVER
Zoning & alternative use
POI · Vero Beach, FL
Zoning POI · permitted uses
POI · 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
$12.3M
MEDICAL BUILDING
Est. value
$15.7M
AUTO REPAIR, GARAGE
Est. value
$14.5M
RETAIL STORES
Est. value
$12.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.6M
WAREHOUSE, STORAGE
Est. value
$9.8M
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
2
Lot
7.01 ac
Current owner
From public records · entity-resolved
2300 5th Ave LLC
Entity
Mailing address
260 RIVERWAY DR, VERO BEACH, FL 32963-2643
Ownership since
2023
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
Nov 16, 2023
$10,000,000
2300 5th Ave LLC
Vero Beach LLC
Special Warranty Deed
—
Mar 21, 2007
$5,250,000
Kimley-horn & Associates INC
P & S V LLC
Grant Deed
$5,250,000 · Wachovia Bank NA
Jul 11, 2005
$4,125,000
Vero Beach LLC
P & Sv LLC
Warranty Deed
$5,538,000 · Harbor Fsb
Dec 7, 2004
$5,150,000
P & S V LLC
Healthcare Realty Trust INC
Grant Deed
$4,505,000 · Harbor Fsb
—
—
Vero Beach LLC
—
Deed Of Trust
related
$6,000,000 · Stonegate Bk
—
—
Vero Beach LLC
—
Deed Of Trust
related
$791,179 · Terrence J O'connor
—
—
Vero Beach LLC
—
Deed Of Trust
related
$7,174,400 · Fidelity Federal Bank & Trust
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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