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    2480 27Th Ave Southwest Vero Beach, FL 32968

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    2480 27Th Ave Southwest Vero Beach, FL 32968

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    • Retail space
    • 8,972 SF
    • 2.13 lot acres
    For Lease
    $2,540,000
    View Listing →
    Vero Beach Retail Development Land For Lease
    $2,540,000

    Vero Beach Retail Development Land

    Retail development opportunity in a growing Vero Beach area.

    2480 27th Avenue Southwest, Vero Beach, FL 32968
    View Listing
    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.
    Value Estimations
    $2,540,000
    Cap Rate Potential
    2.5%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Western Union / Bank / Credit Union
    • Dollar General / Grocery & Convenience 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 estimation — 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 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
    • Value Estimation
      $2,185,000
      8,368 SF

      2855 9th SW St

      RETAIL STORES (PERSONAL SERVICES) • 8,368 SF
      2855 9th SW St, Vero Beach, FL 32968-4108
      View Details
    • Value Estimation
      $830,000
      6,912 SF

      2990 9th SW St

      RETAIL STORES (PERSONAL SERVICES) • 6,912 SF
      2990 9th SW St, Vero Beach, FL 32968-4109
      View Details
    • Value Estimation by Request
      2,870 SF

      573 27th SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,870 SF
      573 27th SW Ave, Vero Beach, FL 32968-4202
      View Details
    • Value Estimation
      $1,590,000
      13,768 SF

      3535 9th SW St

      RETAIL STORES (PERSONAL SERVICES) • 13,768 SF
      3535 9th SW St, Vero Beach, FL 32968-4122
      View Details

    Similar Nearby for Sale

    • $1,500,000
      7,500 SF

      Vero Beach Flex Opportunity

      7,500 SF flex building on one acre for sale.
      820 35Th Ct SW, Vero Beach, FL 32968
      View Details
    • $3,000,000
      6,900 SF

      Vero Beach Commercial Building

      High-visibility commercial building with kitchen and roll-up doors.
      3700 9Th St SW, Vero Beach, FL 32968
      View Details
    • $1,100,000
      950 SF

      Turnkey Cafe/Restaurant Opportunity

      Fully equipped cafe with expansive outdoor seating in Vero Beach.
      3700 9Th St SW, Vero Beach, FL 32968
      View Details
    • $379,900
      5.00 Acres

      Vero Beach 5-Acre Land Parcel

      5-acre land parcel in Vero Beach with AG zoning.
      66th 66Th Ave SW, 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
    • $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
    • Contact for pricing

      Vero Beach Flex Space Available

      Flex space with office, heavy commercial zoning, multiple uses.
      850 33Rd Ct 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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