Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    670 2nd Ln Vero Beach, FL 32962-2948

    • Warehouses
    • 6,000 SF
    • 0.65 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4819130
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Coastal Automotive Equipment Sales / Air Compressor Repair Service / Hydraulic Repair Service

    Property Details for 670 2nd Ln

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.65 lot acres
    Property size
    6,000 SF
    Zone code
    CH
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    33-39-13-00015-0000-00003.0
    APU
    9223372036854775807

    Description

    This 6,000 square foot industrial flex space, located in Indian River County, offers a 3,000 square foot immediately available unit. The property is situated conveniently near Old Dixie Hwy and is zoned Heavy Commercial (CH). Built in 1986, the building features a concrete block structure with a durable metal roof. The available space includes approximately 100 square feet of office space and roughly 2,900 square feet of open warehouse area, perfect for a variety of uses. The unit boasts two 12x12 roll-up doors, providing easy access for loading and unloading. Ample parking is available in the paved asphalt lot with designated parking spaces. The minimum divisible space is 3,000 square feet, making it ideal for businesses needing a sizable footprint. This property presents a fantastic opportunity for businesses seeking a well-maintained industrial space in a convenient location. The space is available January 1st, 2025.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3868
    Latitude
    27.6067
    CBSA code
    42680
    CBSA name
    SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,983
    $120,335
    $216,538
    $336,873
    -
    $120,335
    $216,538
    $336,873

    Comparable in this City

    • Value Estimation
      $205,000
      1,200 SF

      856 11th SW Ct

      MINI-WAREHOUSE, STORAGE • 1,200 SF
      856 11th SW Ct, Vero Beach, FL 32962-4430
      View Details
    • Value Estimation
      $195,000
      750 SF

      525 1st St

      MINI-WAREHOUSE, STORAGE • 750 SF
      525 1st St, Vero Beach, FL 32962-3632
      View Details
    • Value Estimation
      $205,000
      840 SF

      875 11th SW Dr

      MINI-WAREHOUSE, STORAGE • 840 SF
      875 11th SW Dr, Vero Beach, FL 32962-4435
      View Details
    • Value Estimation
      $475,000
      1,800 SF

      805 11th SW Dr

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      805 11th SW Dr, Vero Beach, FL 32962
      View Details
    • Value Estimation
      $75,000
      840 SF

      865 11th SW Dr

      MINI-WAREHOUSE, STORAGE • 840 SF
      865 11th SW Dr, Vero Beach, FL 32962-4435
      View Details
    • Value Estimation
      $165,000
      760 SF

      135 11th SW Pl

      MINI-WAREHOUSE, STORAGE • 760 SF
      135 11th SW Pl, Vero Beach, FL 32962-5712
      View Details

    Similar Nearby for Sale

    • $2,500,000
      7,618 SF

      Vero Beach Auto & Car Wash Business

      Prime US-1 location, high NOI, established businesses.
      0 Us-1, Florida Ridge, FL 32962
      View Details
    • $679,000
      5,150 SF

      Freestanding Industrial Building in Vero Beach

      5,150 SF industrial building with flexible warehouse space for sale.
      663 2Nd Ln, Vero Beach, FL 32962
      View Details
    • $215,000

      Commercial Condo with Flexible Space

      900 sq ft commercial condo, versatile space, heavy commercial zoning.
      637 2Nd Ln E, Vero Beach, FL 32962
      View Details
    • $2,350,000

      Concrete Building For Sale

      Secure concrete building suited for data center, showroom, distribution.
      673 Us Highway 1, Vero Beach, FL 32962
      View Details
    • $1,475,000

      Vero Beach Commercial Land Investment

      2.16 AC Commercial Land, High Visibility
      915 Old Dixie Hwy, Vero Beach, FL 32962
      View Details
    • $1,000,000

      Prime Commercial Land Opportunity

      6.14-acre commercial land for sale in Vero Beach, FL.
      955 7Th Rd SW, Vero Beach, FL 32962
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      18,850 SF

      Infinity Vero Industrial Park

      Vero Beach Flex Space: 8 Units Available
      827 8Th St, Vero Beach, FL 32962
      View Details
    • $16 SF/Yr

      Secure Concrete Building For Rent

      Air-conditioned concrete buildings suited for data center, showroom, distribution.
      673 Us-1 Hwy, Vero Beach, FL 32962
      View Details
    • $12 SF/Yr

      Vero Beach Warehouse with Office

      Small bay warehouse units with air-conditioned office in Vero Beach.
      785 8Th St, Vero Beach, FL 32962
      View Details
    • $10 SF/Yr
      120,000 SF

      1402 Old Dixie Highway

      Life science properties • 120,000 SF
      1402 Old Dixie Hwy, Vero Beach, FL 32962
      View Details
    • $16 SF/Yr

      Versatile Concrete Building for Lease

      Secure, air-conditioned concrete building suitable for various uses.
      673 Us 1 Hwy, Vero Beach, FL 32962
      View Details
    • $12 SF/Yr

      Vero Beach Warehouse Units

      Small bay warehouse units with flexible configurations for rent.
      670 8Th St, Vero Beach, FL 32962
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    670 2nd Ln
    Vero Beach, FL 32962-2948
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.