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Property profile & analytics
OFF-MARKET
Estimated value
$3,110,000
Office buildings
505 Beachland Blvd Vero Beach, FL 32963-1710
Entity Owned
1-yr Hold
Free & Clear
Property ID
US19-0905716
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,198 SF
Lot
0.26 ac (11,326 SF)
Zoning code
C-1A
APN
32-40-32-00006-0130-00026.0
UPID
US19-0905716
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
-
TechMediaInc Advertising Agency Marketing & Advertising
-
leadership group Business Management Consultant
-
R a Allen Co Inc (Bike/Boat/Book/etc) Store
-
Palm Coast Development of Vero Beach Construction Company General Contractor
-
Melt Method MD Weight Loss Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.11M
Owner & transaction history
Central Groves Corp · 1 yrs held
Central Groves Corp
since 2025
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
C-1A · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+108.9%
Industrial (general)
$3.0M
+55.0%
Medical building
$2.2M
+15.1%
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
$3,070,000
ML approach
$3,065,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,915,000
Current use
RESTAURANT
$4,005,000
Change: +109% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,970,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$2,205,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,995,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$1,985,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$3.11M
Range $2.80M – $3.42M · ±10% · vs last sale $3.15M (Feb 4 2025)
Last sale anchor
$3.15M
Feb 4 2025
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
$338 / 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
$21,865
Tax year 2023
Assessed value
$1,330,632
Assessed 2023
Previous assessed
$1,341,685
-0.8% YoY
Effective rate
1.64%
On assessed value
Assessed land
$384,132
Assessed improvement
$946,500
Land market value
$384,132
Improvement market value
$946,500
Total market value
$1,330,632
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
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
7
Total area
9,198 SF
Lot
0.26 ac (11,326 SF)
Zoning code
C-1A
APN
32-40-32-00006-0130-00026.0
UPID
US19-0905716
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
OFFICE BUILDING Current
Est. value
$1.9M
RESTAURANT
Est. value
$4.0M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING Current
RESTAURANT
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
7
Lot
0.26 ac
Current owner
From public records · entity-resolved
Central Groves Corp
Entity
Free & Clear · 1 yrs held
Mailing address
505 BEACHLAND BLVD, VERO BEACH, FL 32963-1710
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2025
$3,150,000
Central Groves Corp
The Beachland Building LLC
Deed
related
—
Feb 4, 2025
$3,150,000
Central Groves Corp
The Beachland Building LLC
Warranty Deed
—
Dec 29, 2005
$468,800
Beachland Building LLC
Delange,phillip & Debora
Warranty Deed
—
—
—
Phillip R Delange
—
Deed Of Trust
related
$253,000 · Indian River National Bank
—
—
Pddl Holdings LLC
—
Deed Of Trust
related
$3,100,000 · Bank United
—
—
Phillip R Delange
—
Deed Of Trust
related
$300,000 · Indian River National Bank
—
—
Beachland Building LLC
—
Deed Of Trust
related
$450,000 · Florida Business Dev Corp
—
—
White Glove Holdings Of Vero LLC
—
Deed Of Trust
related
$2,022,516 · Marine Bank & Trust Co
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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