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

    2650 69th Ter Vero Beach, FL 32966-8862

    • Garden apartment buildings
    • 169,268 SF
    • 28.49 lot acres
    OFF-MARKET
    Value Estimations
    $22,600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5561168
    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

    • Walker Club Apartments / Apartment Building
    • Vero Green / Apartment Building / Apartment Complex

    Property Details for 2650 69th Ter

    Year built
    2001
    Construction
    WOOD
    Lot size
    28.49 lot acres
    Property size
    169,268 SF
    Zone code
    RM-6
    Property type
    Garden apartment buildings
    APN
    32-39-31-00001-0150-00001.0
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $30,070,000
      6.5%
      $27,755,000
      7%
      $25,775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,806,000
      Market price range: $21.8M - $45.7M
      AI Estimate
      $18,230,000
      Market price range: $18.2M - $34.7M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $31,825,000
      Current use
      AUTO REPAIR, GARAGE
      $36,725,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $36,495,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $35,265,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.4696
    Latitude
    27.6481
    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
    $134,785
    $709,665
    $7,488,095
    $8,197,760
    -
    $709,665
    $7,488,095
    $8,197,760

    Comparable in this City

    • Value Estimation
      $31,370,000
      234,972 SF

      2610 71st Cir

      GARDEN APT, COURT APT (5+ UNITS) • 234,972 SF
      2610 71st Cir, Vero Beach, FL 32966-8916
      View Details
    • Value Estimation
      $27,330,000
      204,713 SF

      Tatnall Sq

      GARDEN APT, COURT APT (5+ UNITS) • 204,713 SF
      Tatnall Sq, Vero Beach, FL 32966
      View Details
    • Value Estimation by Request
      1,200 SF

      21716 73rd Mnr

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,200 SF
      21716 73rd Mnr, Vero Beach, FL 32966-4103
      View Details
    • Value Estimation by Request
      1,144 SF

      2016 50th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,144 SF
      2016 50th Ave, Vero Beach, FL 32966-2136
      View Details
    • Value Estimation by Request
      2.63 Acres

      7775 20Th St

      Multifamily properties • 2.63 Acres
      7775 20Th St, Vero Beach, FL 32966
      View Details
    • Value Estimation by Request
      5,529 SF

      1926 86th Ave

      MOBILE HOME PARK, TRAILER PARK • 5,529 SF
      1926 86th Ave, Vero Beach, FL 32966-6955
      View Details

    Similar Nearby for Sale

    • $775,000
      2.63 Acres

      Vero Beach Multifamily Land

      Prime 2.63-acre site, 15 units possible.
      7775 20Th St, Vero Beach, FL 32966
      View Details
    • $1,500,000
      12.00 Acres

      I-95/SR 60 Multi-Family Land

      12 Acres, 90+ Lots, Vero Beach
      2200 93Rd Ave, Vero Beach, FL 32966
      View Details
    • $7,190,134
      50.97 Acres

      Vero Beach Industrial Land

      76.56 acres, dual zoning potential.
      0 98Th Ave, Vero Beach, FL 32966
      View Details
    • $7,645,500
      50.97 Acres

      Vero Beach Land Investment Opportunity

      76.56 acres, multi-use potential
      0 98Th Ave, Vero Beach, FL 32966
      View Details
    • $1,250,000
      0.99 Acres

      Vero Beach Commercial Land - $1.25M

      Prime Vero Beach commercial land, ±0.99 acres.
      5195 20Th St, Vero Beach, FL 32966
      View Details
    • $112,900

      Vero Beach Residential Lot

      0.25-acre lot ready for your dream home.
      2420 85Th Ct, Vero Beach, FL 32966
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,251 SF

      Vero Beach Retail Space

      Retail space available for lease in Vero Beach, Florida.
      5820 20Th St, Vero Beach, FL 32966
      View Details
    • $23 SF/Yr
      2,316 SF

      Vero Beach Commercial Property

      Prime Vero Beach location, 2,316 sq ft.
      1919 94Th Ct, Vero Beach, FL 32966
      View Details
    • $8 SF/Yr
      1,000,000 SF

      Indian River Industrial Park

      Prime I-95 industrial space, build-to-suit
      9800 20Th St, Vero Beach, FL 32966
      View Details
    • $14 SF/Yr
      15,500 SF

      Retail Space on State Road

      Retail space available in renovated Vero Beach shopping center.
      4425-4445 20Th St, Vero Beach, FL 32966
      View Details
    • $33 SF/Yr

      Class A Medical/Office Building

      Well-maintained building suitable for medical or office tenants.
      1960 Pointe West Dr, Vero Beach, FL 32966
      View Details
    • $14 SF/Yr

      Retail Space Near Walmart

      Retail space available on State Road 60, renovated in 2017.
      4435 20Th St, Vero Beach, FL 32966
      View Details
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    2650 69th Ter
    Vero Beach, FL 32966-8862
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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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