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Property profile & analytics
OFF-MARKET
Estimated value
$8,475,000
Office buildings
2515 Airport N Dr Vero Beach, FL 32960-4504
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-4860419
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
43,560 SF
Lot
243.52 ac (10,607,731 SF)
Zoning code
ALI-A2
APN
32-39-26-00011-0740-00001.0
UPID
US18-4860419
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
-
ORCA's Center For Citizen Science Charitable Organization Social Service Agency
-
Vero Beach Reverse Osmosis City Government Office
-
Vero Beach Lime Softening Plant City Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.65M
Comparable Approach
Comparable
$10.71M
Blend (final)
Blend
$8.48M
Owner & transaction history
Jp Aviation Investments LLC · 3 yrs held
Jp Aviation Investments LLC
since 2023
1 recorded transaction
Zoning & alternative use
ALI-A2 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
These districts are designed to provide for a distribution of uses at the Vero Beach Municipal Airport which are compatible and complementary of one another and the airport at large
Zone name
Airport Light Industrial
General category
INDUSTRIAL
Zone area
598.10 ac
Source
Realmo
Top alternative use upside
Medical building
$10.2M
+28.1%
Auto repair, garage
$9.5M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,285,000
6.5%
$7,650,000
7%
$7,105,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,970,000
Current use
MEDICAL BUILDING
$10,215,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,450,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$7,930,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$7,535,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$6,390,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$8.48M
Range $7.63M – $9.32M · ±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
$195 / 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
$5,550
Tax year 2023
Assessed value
$11,713,130
Assessed 2023
Previous assessed
$11,633,349
+0.7% YoY
Effective rate
0.05%
On assessed value
Assessed land
$7,244,720
Assessed improvement
$4,468,410
Land market value
$7,244,720
Improvement market value
$4,468,410
Total market value
$11,713,130
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
8
Stories
1
Units
1
Total area
43,560 SF
Lot
243.52 ac (10,607,731 SF)
Zoning code
ALI-A2
APN
32-39-26-00011-0740-00001.0
UPID
US18-4860419
Jurisdiction
INDIAN RIVER
Zoning & alternative use
ALI-A2 · Vero Beach, FLZoning ALI-A2 · permitted uses
ALI-A2 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
These districts are designed to provide for a distribution of uses at the Vero Beach Municipal Airport which are compatible and complementary of one another and the airport at large
Zone name
Airport Light Industrial
General category
INDUSTRIAL
Zone area
598.10 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.0M
MEDICAL BUILDING
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$9.5M
RETAIL STORES
Est. value
$7.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.5M
WAREHOUSE, STORAGE
Est. value
$6.4M
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
8
Units
1
Lot
243.52 ac
Current owner
From public records · entity-resolved
Jp Aviation Investments LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1389, VERO BEACH, FL 32961-1389
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2023
—
Jp Aviation Investments LLC
City Of Vero Beach
Sub Lease
related
—
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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