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Property profile & analytics
OFF-MARKET
Estimated value
$2,085,000
Retail space
40 Royal Palm Pt Vero Beach, FL 32960-5217
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US18-4172572
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,880 SF
Lot
1.06 ac (46,174 SF)
Zoning code
C-1B
APN
32-40-31-00000-0060-00001.2
UPID
US18-4172572
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.05M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$2.09M
Owner & transaction history
Royal Palm Pointe Partners LLC · 9 yrs held
Royal Palm Pointe Partners LLC
since 2017
2 recorded transactions
Zoning & alternative use
C-1B · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
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, multipl…
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
103.89 ac
Top alternative use upside
Medical building
$3.3M
+28.8%
Auto repair, garage
$3.0M
+19.2%
Office building
$2.5M
+0.5%
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%
$2,225,000
6.5%
$2,050,000
7%
$1,905,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,525,000
Current use
MEDICAL BUILDING
$3,255,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,010,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$2,540,000
Change: +1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,400,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,035,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.29M · ±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
$150 / 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
$42,135
Tax year 2023
Assessed value
$2,448,719
Assessed 2023
Previous assessed
$2,455,500
-0.3% YoY
Effective rate
1.72%
On assessed value
Assessed land
$784,951
Assessed improvement
$1,663,768
Land market value
$784,951
Improvement market value
$1,663,768
Total market value
$2,448,719
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
13,880 SF
Lot
1.06 ac (46,174 SF)
Zoning code
C-1B
APN
32-40-31-00000-0060-00001.2
UPID
US18-4172572
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-1B · Vero Beach, FLZoning C-1B · permitted uses
C-1B · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
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 attache
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
103.89 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.0M
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Royal Palm Pointe Partners LLC
Entity
Mailing address
374 MARC DR, TOMS RIVER, NJ 08753-4273
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2017
$2,900,000
Royal Palm Pointe Partners LLC
Cee & Tee INC
Warranty Deed
$4,000,000 · Private Individual
Jan 20, 2017
—
Cee & Tee INC
C & T INC
Warranty 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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