Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Office buildings
616 Azalea Ln Vero Beach, FL 32963-1832
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-0519498
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
WOOD
Total area
876 SF
Lot
0.15 ac (6,534 SF)
Zoning code
RM-10/12
APN
32-40-32-00006-0150-00016.0
UPID
US18-0519498
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
-
Gaston Private Jeweler (Bike/Boat/Book/etc) Store
-
Proctor Kennedy Properties Real Estate Agency
-
Blakeston Investment Group Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$530k
Owner & transaction history
Proctor Kennedy Properties LLC · 3 yrs held
Proctor Kennedy Properties LLC
since 2022
Last sale
$500,000
3 recorded transactions
Zoning & alternative use
RM-10/12 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is designed to provide suitable areas for high density residential development where sufficient urban services and facilities are provided or where such facilities will be available prior to the development
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
206.19 ac
Source
Realmo
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
$600,000
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $500k (Aug 26 2022)
Last sale anchor
$500k
Aug 26 2022
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
$605 / 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
$3,807
Tax year 2023
Assessed value
$237,669
Assessed 2023
Previous assessed
$216,369
+9.8% YoY
Effective rate
1.60%
On assessed value
Assessed land
$110,500
Assessed improvement
$127,169
Land market value
$110,500
Improvement market value
$127,169
Total market value
$237,669
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
876 SF
Lot
0.15 ac (6,534 SF)
Zoning code
RM-10/12
APN
32-40-32-00006-0150-00016.0
UPID
US18-0519498
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-10/12 · Vero Beach, FLZoning RM-10/12 · permitted uses
RM-10/12 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is designed to provide suitable areas for high density residential development where sufficient urban services and facilities are provided or where such facilities will be available prior to the development
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
206.19 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Proctor Kennedy Properties LLC
Entity
Mailing address
2050 US HWY 1ST #200, VERO BEACH, FL 32960-0948
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2022
$500,000
Proctor Kennedy Properties LLC
George F Hamner JR
Deed
$400,000 · George F Hamner JR Land Trust 12169
Dec 27, 2000
$240,000
Hammer Trust
Confidential Investments
Grant Deed
—
—
—
Confidential Investments
—
Deed Of Trust
related
$150,000 · Indian River National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 616 Azalea Ln?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
