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Property profile & analytics
FOR LEASE
Medical Office Space
927 37Th Pl Vero Beach, FL 32960
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US18-6107625
For Lease
1 / 36
$35 SF/Yr
927 37Th Pl, Vero Beach, FL 32960
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1992
Total area
2,398 SF
APN
32-39-25-00010-0003-00002.0
UPID
US18-6107625
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
-
Christopher Olenek Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$500k
Comparable Approach
Comparable
$591k
Blend (final)
Blend
$630k
Owner & transaction history
Shadow Mountain LLC · 13 yrs held
Shadow Mountain LLC
since 2013
Last sale
$719,400
2 recorded transactions
Zoning & alternative use
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%
$540,000
6.5%
$500,000
7%
$465,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$560,000
Current use
AUTO REPAIR, GARAGE
$520,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $719k (Jan 5 2026)
Last sale anchor
$719k
Jan 5 2026
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
$263 / 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
$4,921
Tax year 2023
Assessed value
$326,000
Assessed 2023
Previous assessed
$326,000
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed improvement
$326,000
Improvement market value
$326,000
Total market value
$326,000
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
For Lease
Year built
1992
Heating
NONE
Stories
1
Units
1
Bathrooms
2
Total area
2,398 SF
APN
32-39-25-00010-0003-00002.0
UPID
US18-6107625
Jurisdiction
INDIAN RIVER
Zoning & alternative use
Zoning · permitted uses
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
$560,000
AUTO REPAIR, GARAGE
Est. value
$520,000
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
1992
Heating
NONE
Stories
1
Units
1
Bathrooms
2
Current owner
From public records · entity-resolved
Shadow Mountain LLC
Entity
Mailing address
PO BOX 1056, VERO BEACH, FL 32961-1056
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Jul 2, 2013
$390,200
Shadow Mountain LLC
Flinchum Construction INC
Warranty Deed
$331,656 · Marine Bank & Trust Co
Jul 2, 2013
$260,000
Flinchum Construction INC
Marine Bk & Trust Co
Grant 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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