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    Property profile & analytics

    3500 Ocean Dr, Unit 224 Vero Beach, FL 32963-1621

    • Hotels
    • 1,745 SF
    OFF-MARKET
    Value Estimation
    $1,180,000
    Last Sale
    Aug 11, 2023
    $1,175,000
    Location Intelligence
    Property ID
    US18-3111569
    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

    • Sea Glass Boutique / Gift Shop / Children'S Clothing Store
    • Tesla Destination Charger / Electric Vehicle Charging Station
    • White Orchid Spa / Medical Spa / Eyelash Salon
    • Heaton's / Restaurant / Bar
    • Cobalt / Bar / Seafood Restaurant

    Property Details for 3500 Ocean Dr

    Year built
    2007
    Property size
    1,745 SF
    Property type
    Hotels
    APN
    32-40-32-00046-0000-00224.0
    APU
    9223372036854775807

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,200,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,225,000
      6.5%
      $1,025,000
      7%
      $1,050,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $990,000
      Geo Method
      $1,115,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,120,000
      Retail
      $1,340,000
      Mixed-Use
      $1,075,000
      Hospitality
      $1,060,000
      Educational
      $1,330,000
      Residential Income
      $1,320,000
      Energy
      $1,275,000
      Income-Based Land
      $1,010,000
      Food Service
      $1,000,000

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3568
    Latitude
    27.6561
    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
    $10,545
    $0.00
    $752,250
    $752,250
    -
    $0.00
    $752,250
    $752,250

    Comparable in this City

    • Value Estimation
      $290,000
      565 SF

      43013 Ocean Dr, Unit 102

      HOTEL • 565 SF
      43013 Ocean Dr, Vero Beach, FL 32963
      View Details
    • Value Estimation
      $410,000
      565 SF

      3500 Ocean Dr, Unit 202

      HOTEL • 565 SF
      3500 Ocean Dr, Vero Beach, FL 32963-1621
      View Details
    • Value Estimation
      $400,000
      565 SF

      3500 Ocean Dr, Unit 207

      HOTEL • 565 SF
      3500 Ocean Dr, Vero Beach, FL 32963-1621
      View Details
    • Value Estimation
      $430,000
      565 SF

      3500 Ocean Dr, Unit 307

      HOTEL • 565 SF
      3500 Ocean Dr, Vero Beach, FL 32963-1621
      View Details
    • Value Estimation
      $475,000
      745 SF

      3500 Ocean Dr, Unit 414

      HOTEL • 745 SF
      3500 Ocean Dr, Vero Beach, FL 32963-1621
      View Details
    • Value Estimation
      $1,200,000
      1,844 SF

      3500 Ocean Dr, Unit 422

      HOTEL • 1,844 SF
      3500 Ocean Dr, Vero Beach, FL 32963-1621
      View Details

    Similar Nearby for Sale

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      Furnished Penthouse with Ocean Views

      Turnkey penthouse apartment with ocean views and existing leases.
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    • New
      $1,600,000

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      Four-unit condo building near beach access in Vero Beach.
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    Similar Nearby for Lease

    • $28 SF/Yr
      1,204 SF

      A1A Premium Office Suite

      Lagoon Views, High Visibility, 1,204 SF
      4625 Florida A1A, Vero Beach, FL 32963
      View Details
    • $35 SF/Yr

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      Corner office suite available near shops, restaurants, and beach.
      3055 Cardinal Dr, Vero Beach, FL 32963
      View Details
    • $22 SF/Yr
      20,000 SF

      Vero Beach Executive Office Suite

      Prime A1A Office Space, Immediate Occupancy
      5070 Florida A1A, Vero Beach, FL 32963
      View Details
    • $48 SF/Yr
      1,683 SF

      Vero Beach Office Suite 107

      Prime Vero Beach Office Space Available
      3001 Ocean Dr, Vero Beach, FL 32963
      View Details
    • $44 SF/Yr
      1,540 SF

      Vero Beach Office Space - Highway A1A

      Beachfront Office, Build-to-Suit Available
      9300 Highway A1A, Vero Beach, FL 32963
      View Details
    • $30 SF/Yr

      Premium Office Suite For Rent

      Office suite with lagoon views and high visibility.
      4625 1St St, Vero Beach, FL 32963
      View Details
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    Vero Beach, FL 32963-1621
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    Realmo Value Estimation

    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.

    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.

    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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