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Property profile & analytics
OFF-MARKET
Estimated value
$1,515,000
Medical Office Space
880 37th Pl Vero Beach, FL 32960-6506
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US18-0143967
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,466 SF
Lot
0.8 ac (34,848 SF)
Zoning code
MED
APN
32-39-25-00001-0000-00008.0
UPID
US18-0143967
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
-
Indian River Medical Center Physican Practices Physician
-
Dr. Robert Callery, DDS Dental Office
-
Dr. Peter Froehlich, DDS Dental Office
-
Robert Bruce McDonald, DDS Dental Office
-
Alexies Ramirez, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.56M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.52M
Owner & transaction history
Rcrm LLC · 20 yrs held
Rcrm LLC
since 2006
7 recorded transactions
Zoning & alternative use
MED · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,685,000
6.5%
$1,555,000
7%
$1,445,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,750,000
Current use
AUTO REPAIR, GARAGE
$1,620,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.36M – $1.67M · ±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
$203 / 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
$15,991
Tax year 2023
Assessed value
$1,063,264
Assessed 2023
Previous assessed
$1,064,478
-0.1% YoY
Effective rate
1.50%
On assessed value
Assessed land
$236,535
Assessed improvement
$826,729
Land market value
$236,535
Improvement market value
$826,729
Total market value
$1,063,264
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
5
Total area
7,466 SF
Lot
0.8 ac (34,848 SF)
Zoning code
MED
APN
32-39-25-00001-0000-00008.0
UPID
US18-0143967
Jurisdiction
INDIAN RIVER
Zoning & alternative use
MED · Vero Beach, FLZoning MED · permitted uses
MED · Vero Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
5
Lot
0.8 ac
Current owner
From public records · entity-resolved
Rcrm LLC
Entity
Mailing address
880 37TH PL, VERO BEACH, FL 32960-6506
Ownership since
2006
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 28, 2006
$70,400
Rcrm LLC
Macwilliam,alexander D III
Warranty Deed
—
Apr 28, 2006
$176,000
Rcrm LLC
Macwilliam,alexander D JR
Warranty Deed
—
Apr 28, 2006
$896,000
Rcrm LLC
880 37th Place LLC
Warranty Deed
$1,178,900 · Marine Bank & Trust Co
Apr 28, 2006
$281,600
Rcrm LLC
Tuerk,george R
Warranty Deed
—
Jul 9, 2004
$1,300,000
880 37th Place LLC
37th Place Medical Center LLC
Warranty Deed
related
$825,000 · Indian River National Bank
—
—
Rcrm LLC
—
Deed Of Trust
related
$850,000 · Pnc Bank
—
—
Rcrm LLC
—
Deed Of Trust
related
$998,000 · Pnc Bank
—
—
Rcrm LLC
—
Deed Of Trust
related
$1,128,525 · 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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