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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Specialty properties
3500 Ocean Dr Vero Beach, FL 32963-1621
Entity Owned
18-yr Hold
Free & Clear
Property ID
US18-7967903
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2007
Construction
CONCRETE
Total area
19,037 SF
Lot
3.18 ac (138,521 SF)
Zoning code
C-1A
APN
32-40-32-00006-0200-00004.0
UPID
US18-7967903
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
-
Sea Glass Boutique (Bike/Boat/Book/etc) Store
-
Tesla Destination Charger Electric Vehicle Charging Station
-
White Orchid Spa Spa & Massage Center Alternative Medicine Practice
-
Heaton's Restaurant
-
Cobalt Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$775k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.19M
Owner & transaction history
Vero Hotel Management LLC · 18 yrs held
Vero Hotel Management LLC
since 2007
5 recorded transactions
Zoning & alternative use
C-1A · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+38.8%
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
$775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$1,170,000
Current use
AUTO REPAIR, GARAGE
$1,625,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±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
$62 / 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
$68,154
Tax year 2023
Assessed value
$3,960,223
Assessed 2023
Previous assessed
$3,949,264
+0.3% YoY
Effective rate
1.72%
On assessed value
Assessed land
$1,854,437
Assessed improvement
$2,105,786
Land market value
$1,854,437
Improvement market value
$2,105,786
Total market value
$3,960,223
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
3
Stories
5
Units
50
Total area
19,037 SF
Lot
3.18 ac (138,521 SF)
Zoning code
C-1A
APN
32-40-32-00006-0200-00004.0
UPID
US18-7967903
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-1A · Vero Beach, FL
Zoning 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
Vero Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.6M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
AUTO REPAIR, GARAGE
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
2007
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
5
Buildings
3
Units
50
Lot
3.18 ac
Current owner
From public records · entity-resolved
Vero Hotel Management LLC
Entity
Free & Clear · 18 yrs held
Mailing address
3500 OCEAN DR, VERO BEACH, FL 32963-1621
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2007
—
Vero Hotel Management LLC
Vero Beach Hotel & Club LLC
Quit Claim Deed
—
Jan 11, 2007
—
Vero Lodging LLC
—
Trustees Deed
related
$2,080,420 · Orion Bank
Jun 8, 2006
—
Vero Beach Hotel & Club LLC
—
Trustees Deed
related
$19,305,538 · Orion Bank
Jan 11, 2005
$12,250,000
Vero Beach Hotel & Club LLC
Whitecaps Hotel Ptrs II LLC
Grant Deed
—
Jul 26, 2002
$5,000,000
Whitecaps Hotel Partners II
Vero Mar Development Ltd
Grant Deed
—
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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