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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2480 27Th Ave Southwest Vero Beach, FL 32968

    • Retail space
    • 8,972 SF
    • 2.13 lot acres
    For Lease
    View listing
    Last Sale
    Sep 16, 2021
    $2,692,800
    Value Estimations
    $2,540,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4715276
    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.

    Current Use by Public Records

    • Western Union / Money Transfer Service
    • Dollar General / Drug Store / Seasonal Goods Store

    Property Details for 2480 27Th Ave Southwest

    Year built
    2021
    Construction
    STEEL FRAME
    Lot size
    2.13 lot acres
    Property size
    8,972 SF
    Zone code
    CL
    Property type
    Retail space
    APN
    33-39-35-00001-0130-00004.0
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,410,000
      ML approach
      $3,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,812,000
      Market price range: $1.15M - $3.01M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,935,000
      Current use
      RESTAURANT
      $3,905,000
      Change: +102% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,900,000
      Change: +50% Conversion: Difficult
      MEDICAL BUILDING
      $2,150,000
      Change: +11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,945,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $1,870,000
      Change: -3% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,685,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.4135
    Latitude
    27.5583
    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
    $13,697
    $130,239
    $664,297
    $794,536
    -
    $130,239
    $664,297
    $794,536

    Comparable in this City

    • Value Estimation
      $4,575,000
      14,406 SF

      850 43rd SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,406 SF
      850 43rd SW Ave, Vero Beach, FL 32968-4068
      View Details
    • Value Estimation
      $1,110,000
      9,114 SF

      870 66th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,114 SF
      870 66th SW Ave, Vero Beach, FL 32968-9303
      View Details
    • Value Estimation by Request
      2,500 SF

      1055 27th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      1055 27th SW Ave, Vero Beach, FL 32968-5114
      View Details
    • Value Estimation by Request
      1,778 SF

      3700 9th SW St

      RETAIL STORES (PERSONAL SERVICES) • 1,778 SF
      3700 9th SW St, Vero Beach, FL 32968-4107
      View Details
    • Value Estimation by Request
      4,000 SF

      725 27th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      725 27th SW Ave, Vero Beach, FL 32968-4207
      View Details
    • Value Estimation
      $5,100,000
      14,125 SF

      4215 9th SW St

      RETAIL STORES (PERSONAL SERVICES) • 14,125 SF
      4215 9th SW St, Vero Beach, FL 32968-4806
      View Details

    Similar Nearby for Sale

    • $895,000
      0.81 Acres

      Vero Beach Retail Land - Prime Location

      High-growth Vero Beach commercial land, ideal for retail.
      3906 9Th St, Vero Beach, FL 32968
      View Details
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      Vero Beach Commercial Investment Property

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      Prime Agricultural Land Near I-95

      40+/- acres of agricultural land near new I-95 interchange.
      495 66Th Ave SW, Vero Beach, FL 32968
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    • New
      $450,000
      Pending

      Vero Beach Pastureland for Sale

      96+ acres of pastureland in Vero Beach, Florida.
      130 130Th Ave SW, Vero Beach, FL 32968
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    • $5,000,000
      160.00 Acres

      Vero Beach Aqua Farm Opportunity

      160-acre aqua farm with warehouses in an opportunity zone.
      750 154Th Ave, Vero Beach, FL 32968
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    • $399,000

      Vero Beach Commercial Land - $399K

      18.39 Acres, Spring-Fed Lake, Buildable Land
      7735 21St St, Vero Beach, FL 32968
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in Vero Beach

      Retail space available in a Publix and CVS anchored center.
      4125-4165 9Th St SW, Vero Beach, FL 32968
      View Details
    • $3,461 /Mo
      1,750 SF

      Retail Space in Dixie Plaza

      Retail space for lease in a high-traffic plaza.
      2950 9Th St SW, Vero Beach, FL 32968
      View Details
    • Contact for pricing
      71,790 SF

      Vero Beach Retail Space Available

      High-traffic retail center, two suites available.
      4125 9Th St, Vero Beach, FL 32968
      View Details
    • $14 SF/Yr

      Vero Beach Flex Space Available

      Flex space with office, warehouse, and heavy commercial zoning.
      815 33Rd Ct SW, Vero Beach, FL 32968
      View Details
    • $15 SF/Yr

      Vero Beach Flex Space Available

      Flex space with office, bay doors, and high ceilings.
      856 33Rd Ct SW, Vero Beach, FL 32968
      View Details
    • New
      $12 SF/Yr

      Vero Beach Warehouse with Loading

      14,000 SF warehouse with loading docks and ample parking.
      925 SW 74Th Ave SW, Vero Beach, FL 32968
      View Details
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    Vero Beach, FL 32968
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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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