Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,875,000
Garden apartment buildings
625 15th Pl 201 Vero Beach, FL 32960-5705
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-0506481
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2019
Construction
CONCRETE
Total area
43,272 SF
Lot
4.2 ac (182,952 SF)
Zoning code
RM-10
APN
33-39-12-00000-1000-00001.0
UPID
US18-0506481
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
$7.10M
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$5.88M
Owner & transaction history
Johns Island Club INC · 8 yrs held
Johns Island Club INC
since 2017
2 recorded transactions
Zoning & alternative use
RM-10 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
These districts are designed to provide suitable areas for medium density residential development where sufficient urban services and facilities are provided or where the extension of such services and facilities will be physically and economically feasible. It is also the intent of this section to permit single family and two family structures as well as mu…
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
134.34 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$9.4M
+25.4%
Office building
$7.9M
+5.8%
Retail stores
$7.9M
+5.3%
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%
$7,685,000
6.5%
$7,095,000
7%
$6,590,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,485,000
Current use
AUTO REPAIR, GARAGE
$9,390,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$7,920,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$7,880,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,350,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$5.88M
Range $5.29M – $6.46M · ±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
$136 / 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
$42,817
Tax year 2023
Assessed value
$2,784,047
Assessed 2023
Previous assessed
$2,781,570
+0.1% YoY
Effective rate
1.54%
On assessed value
Assessed land
$178,500
Assessed improvement
$2,605,547
Land market value
$178,500
Improvement market value
$2,605,547
Total market value
$2,784,047
Applied tax rate
7.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
NONE
Cooling
AC.PACKAGE
Buildings
2
Units
36
Total area
43,272 SF
Lot
4.2 ac (182,952 SF)
Zoning code
RM-10
APN
33-39-12-00000-1000-00001.0
UPID
US18-0506481
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-10 · Vero Beach, FLZoning RM-10 · permitted uses
RM-10 · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
These districts are designed to provide suitable areas for medium density residential development where sufficient urban services and facilities are provided or where the extension of such services and facilities will be physically and economically feasible. It is also the intent of this section to permit single family and two family structures as well as multiple family structures developed within a medium density range as defined in the text and provided a sufficient open space is preserved on the same lot
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
134.34 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$9.4M
OFFICE BUILDING
Est. value
$7.9M
RETAIL STORES
Est. value
$7.9M
WAREHOUSE, STORAGE
Est. value
$6.4M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
2019
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Buildings
2
Units
36
Lot
4.2 ac
Current owner
From public records · entity-resolved
Johns Island Club INC
Entity
Free & Clear · 8 yrs held
Mailing address
3 JOHNS IS DR, VERO BEACH, FL 32963-3234
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
Oct 27, 2017
$1,105,000
Johns Island Club INC
Senior Resource Assn INC
Warranty Deed
—
—
—
Senior Resource Assn INC
—
Deed Of Trust
related
$170,000 · 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 625 15th Pl, Unit 201?
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.
