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Property profile & analytics
OFF-MARKET
Turn key restaurants
3450 Ocean Dr Vero Beach, FL 32963-1683
Entity Owned
Free & Clear
Property ID
US18-5348906
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,850 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C-1A
APN
32-40-32-00006-0200-00007.1
UPID
US18-5348906
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
-
The Reef Ocean Resort Hotel & Motel Resort
-
Bobby's Restaurant & Lounge Restaurant
-
Week 51 Sat to Sat Dec 19-26 2020 Ocean Front Efficiency Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
REEF OCEAN RESORT ASSOCIATIONN INC
REEF OCEAN RESORT ASSOCIATIONN INC
Zoning & alternative use
C-1A · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
for explanation of interpretation of this table. 2. Abbreviations: P = Permitted by Right C = Allowed with a Conditional Use Permit Blank = Use not allowed Allowed uses Commercial Districts: Use s Types B-1 B-2 B-3 B-4 C-1A C-1B C-1 Use Specific Standards Residential Uses - Dwellings Dwellings, live/work unit P Standards in Sec. 67.02(c) apply Dwellings, mul…
Zone name
Tourist Oriented Commercial
General category
COMMERCIAL
Zone area
158.85 ac
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,804
Tax year 2023
Assessed value
$421,658
Assessed 2023
Previous assessed
$429,677
-1.9% YoY
Effective rate
2.33%
On assessed value
Assessed land
$165,070
Assessed improvement
$256,588
Land market value
$165,070
Improvement market value
$256,588
Total market value
$421,658
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
4,850 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C-1A
APN
32-40-32-00006-0200-00007.1
UPID
US18-5348906
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-1A · Vero Beach, FLZoning C-1A · permitted uses
C-1A · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
for explanation of interpretation of this table. 2. Abbreviations: P = Permitted by Right C = Allowed with a Conditional Use Permit Blank = Use not allowed Allowed uses Commercial Districts: Use s Types B-1 B-2 B-3 B-4 C-1A C-1B C-1 Use Specific Standards Residential Uses - Dwellings Dwellings, live/work unit P Standards in Sec. 67.02(c) apply Dwellings, multiple-family P P P P P Standards in Sec. 67.02(d) apply Dwellings, single-family at
Zone name
Tourist Oriented Commercial
General category
COMMERCIAL
Zone area
158.85 ac
Building & site characteristics
From public records
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
REEF OCEAN RESORT ASSOCIATIONN INC
Entity
Free & Clear · 0 yrs held
Mailing address
3450 OCEAN DR, VERO BEACH, FL 32963-1683
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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