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Property profile & analytics
OFF-MARKET
Estimated value
$23,785,000
Garden apartment buildings
265 13th Pl Vero Beach, FL 32960-7029
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US18-5112658
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1995
Construction
WOOD
Total area
175,231 SF
Lot
13.68 ac (595,901 SF)
Zoning code
RM-8
APN
33-40-07-00002-0000-00001.0
UPID
US18-5112658
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
-
Indian River Apartments Apartment Building
-
AmeriPlan Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.74M
Comparable Approach
Comparable
$22.67M
Blend (final)
Blend
$23.79M
Owner & transaction history
Vero Beach Investments LLC · 15 yrs held
Vero Beach Investments LLC
since 2011
3 recorded transactions
Zoning & alternative use
RM-8 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ea) 7,057 SF None Height 35 ft. 14 ft. Open Space (Min) 25% 36.5 % Traffic 1,101 ADT 746 ADT Land Use: Commercial Res. Medium Density: 15 du/acre or 30 rooms/acre 10 du/acre Intensity (FAR): 1.0 0.5 Zoning: C-1M RM-8 Density: 30 rooms/acre 8 du/acre Intensity (FAR): 1.0 0.3 Vero Towers Allowed vs. Actual Allowed Actual Density 5 units 42 units In…
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
99.27 ac
Top alternative use upside
Auto repair, garage
$38.0M
+25.4%
Office building
$32.1M
+5.8%
Retail stores
$31.9M
+5.3%
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%
$31,130,000
6.5%
$28,735,000
7%
$26,685,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$30,305,000
Current use
AUTO REPAIR, GARAGE
$38,015,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$32,070,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$31,905,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$25,710,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$23.79M
Range $21.41M – $26.16M · ±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
$136 / 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
$21,333
Tax year 2023
Assessed value
$7,398,806
Assessed 2023
Previous assessed
$7,453,131
-0.7% YoY
Effective rate
0.29%
On assessed value
Assessed land
$581,400
Assessed improvement
$6,817,406
Land market value
$581,400
Improvement market value
$6,817,406
Total market value
$7,398,806
Applied tax rate
7.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1995
Construction
WOOD
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
8
Stories
2
Units
180
Total area
175,231 SF
Lot
13.68 ac (595,901 SF)
Zoning code
RM-8
APN
33-40-07-00002-0000-00001.0
UPID
US18-5112658
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-8 · Vero Beach, FLZoning RM-8 · permitted uses
RM-8 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ea) 7,057 SF None Height 35 ft. 14 ft. Open Space (Min) 25% 36.5 % Traffic 1,101 ADT 746 ADT Land Use: Commercial Res. Medium Density: 15 du/acre or 30 rooms/acre 10 du/acre Intensity (FAR): 1.0 0.5 Zoning: C-1M RM-8 Density: 30 rooms/acre 8 du/acre Intensity (FAR): 1.0 0.3 Vero Towers Allowed vs. Actual Allowed Actual Density 5 units 42 units Intensity (Floor Area) 8,423 SF 47,972 SF Height 35 ft. 60 ft. Open Space (Min) 50% 6%
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
99.27 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$30.3M
AUTO REPAIR, GARAGE
Est. value
$38.0M
OFFICE BUILDING
Est. value
$32.1M
RETAIL STORES
Est. value
$31.9M
WAREHOUSE, STORAGE
Est. value
$25.7M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1995
Construction
WOOD
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
8
Units
180
Lot
13.68 ac
Current owner
From public records · entity-resolved
Vero Beach Investments LLC
Entity
Mailing address
3250 MARY ST STE #306, MIAMI, FL 33133-5232
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2019
—
Vero Beach Investment LLC
—
Loan Modification
related
$11,825,000 · Walker & Dunlop
May 9, 2011
$4,250,000
Vero Beach Investments LLC
Mf Indian River Holdings Ltd
Special Warranty Deed
$4,035,875 · Branch Banking And Trust Co
—
—
Vero Beach Investment LLC
—
Loan Modification
related
$2,857,335 · Walker & Dunlop
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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