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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Garden apartment buildings
795 Royal Palm Blvd 1 Vero Beach, FL 32960-5143
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4046293
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,032 SF
Lot
0.67 ac (29,185 SF)
Zoning code
RM-10
APN
33-39-01-00005-0170-00001.0
UPID
US18-4046293
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
-
North Crane Living Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
$660k
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$810k
Owner & transaction history
795 Royal Palm LLC · 4 yrs held
795 Royal Palm LLC
since 2021
Last sale
$850,000
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
Medical building
$945,000
+35.6%
Auto repair, garage
$875,000
+25.4%
Office building
$740,000
+5.8%
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
$1,000,000
ML approach
$1,020,000
CAP Approach
CAP Return
Estimation
6%
$715,000
6.5%
$660,000
7%
$615,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$695,000
Current use
MEDICAL BUILDING
$945,000
Change: +36% · Conversion: Moderate
AUTO REPAIR, GARAGE
$875,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$735,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$590,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $850k (Aug 24 2021)
Last sale anchor
$850k
Aug 24 2021
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
$201 / 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
$8,647
Tax year 2023
Assessed value
$497,041
Assessed 2023
Previous assessed
$410,377
+21.1% YoY
Effective rate
1.74%
On assessed value
Assessed land
$279,081
Assessed improvement
$217,960
Land market value
$279,081
Improvement market value
$217,960
Total market value
$497,041
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
4
Stories
1
Units
12
Total area
4,032 SF
Lot
0.67 ac (29,185 SF)
Zoning code
RM-10
APN
33-39-01-00005-0170-00001.0
UPID
US18-4046293
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
$695,000
MEDICAL BUILDING
Est. value
$945,000
AUTO REPAIR, GARAGE
Est. value
$875,000
OFFICE BUILDING
Est. value
$740,000
RETAIL STORES
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$590,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Buildings
4
Units
12
Lot
0.67 ac
Current owner
From public records · entity-resolved
795 Royal Palm LLC
Entity
Free & Clear · 4 yrs held
Mailing address
835 22ND ST, VERO BEACH, FL 32960-5104
Ownership since
2021
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
Aug 24, 2021
$850,000
795 Royal Palm LLC
Royal Palm Court LLC
Warranty Deed
—
Nov 25, 2020
—
Royal Palm Court LLC
Dennis Leech
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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