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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Medical Office Space
903 Cswy Blvd Vero Beach, FL 32963-2235
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-0519518
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,556 SF
Lot
0.34 ac (14,810 SF)
Zoning code
RM-13
APN
33-40-05-00009-0040-00009.0
UPID
US18-0519518
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
-
Natural Life LLC Alternative Medicine Practice
-
Laura B. Williams, PHD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$810k
Blend (final)
Blend
$980k
Owner & transaction history
903 East Causeway LLC · 4 yrs held
903 East Causeway LLC
since 2022
Last sale
$925,000
5 recorded transactions
Zoning & alternative use
RM-13 · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is designed to provide adequate space in appropriate locations suitable for accommodating high density residential development and congregate housing exclusively for the elderly and designed to meet the unique needs of elderly persons
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
19.32 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
$1,110,000
ML approach
$1,120,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$615,000
Current use
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±10% · vs last sale $925k (Apr 11 2022)
Last sale anchor
$925k
Apr 11 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
$383 / 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
$10,256
Tax year 2023
Assessed value
$632,808
Assessed 2023
Previous assessed
$543,976
+16.3% YoY
Effective rate
1.62%
On assessed value
Assessed land
$380,588
Assessed improvement
$252,220
Land market value
$380,588
Improvement market value
$252,220
Total market value
$632,808
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
4
Total area
2,556 SF
Lot
0.34 ac (14,810 SF)
Zoning code
RM-13
APN
33-40-05-00009-0040-00009.0
UPID
US18-0519518
Jurisdiction
INDIAN RIVER
Zoning & alternative use
RM-13 · Vero Beach, FLZoning RM-13 · permitted uses
RM-13 · 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 adequate space in appropriate locations suitable for accommodating high density residential development and congregate housing exclusively for the elderly and designed to meet the unique needs of elderly persons
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
19.32 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$615,000
MEDICAL BUILDING Current
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
4
Lot
0.34 ac
Current owner
From public records · entity-resolved
903 East Causeway LLC
Entity
Mailing address
1581 OLD DIXIE HWY, VERO BEACH, FL 32960-3654
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2025
—
903 East Causeway LLC
—
Deed
related
$761,250 · Southstate Bank NA
Apr 11, 2022
$925,000
903 East Causeway LLC
Fyd LLC
Warranty Deed
$800,000 · Kenneth Cooper
Jan 22, 2016
$560,000
Fyd LLC
Schorner,james A & Judith A
Warranty Deed
—
May 17, 2002
$600,000
Schorner Trust
Houmma INC
Grant Deed
$300,000 · Wachovia Bank NA
—
—
Houmma INC
—
Deed Of Trust
related
$315,000 · First Union 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.
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