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    Property profile & analytics

    950 1st Pl Vero Beach, FL 32962

    • Office buildings
    • 696 SF
    • 12.09 lot acres
    OFF-MARKET
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    3.9%
    Office buildings
    Location Intelligence
    Property ID
    US18-2668973
    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

    • Indian River County Waste Disposal / Waste Management Service

    Property Details for 950 1st Pl

    Year built
    2013
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.09 lot acres
    Property size
    696 SF
    Zone code
    RS-6
    Property type
    Office buildings
    APN
    33-39-13-00000-5000-00041.0
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $218,000
      Market price range: $76.3k - $218k
      AI Estimate
      $128,000
      Market price range: $62.7k - $128k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $145,000
      Current use
      MEDICAL BUILDING
      $165,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $150,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $150,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3914
    Latitude
    27.602
    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
    $89
    $268,430
    $356,639
    $625,069
    -
    $268,430
    $356,639
    $625,069

    Comparable in this City

    • Value Estimation
      $280,000
      2,897 SF

      25th SE St

      OFFICE BUILDING • 2,897 SF
      25th SE St, Vero Beach, FL 32962
      View Details
    • Value Estimation
      $270,000
      1,472 SF

      9th SE St

      OFFICE BUILDING • 1,472 SF
      9th SE St, Vero Beach, FL 32962
      View Details
    • Value Estimation
      $325,000
      1,758 SF

      845 10th SW Ct

      OFFICE BUILDING • 1,758 SF
      845 10th SW Ct, Vero Beach, FL 32962-4423
      View Details
    • Value Estimation
      $430,000
      2,642 SF

      795 12th SW Ave

      OFFICE BUILDING • 2,642 SF
      795 12th SW Ave, Vero Beach, FL 32962-4437
      View Details
    • Value Estimation
      $475,000
      10,096 SF

      1175 Us Hwy 1st 1

      OFFICE BUILDING • 10,096 SF
      1175 Us Hwy 1st 1, Vero Beach, FL 32962-5606
      View Details
    • Value Estimation
      $205,000
      1,139 SF

      60 6th Ave

      OFFICE BUILDING • 1,139 SF
      60 6th Ave, Vero Beach, FL 32962-3617
      View Details

    Similar Nearby for Sale

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      Vero Beach Commercial Land Investment

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    • $899,900
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      Vero Beach Office Building - $899,900

      Prime Vero Beach office, multi-tenant, high ROI.
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    • $495,000
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      Vero Beach Commercial Opportunity

      Commercial property with land and sewer access in Vero Beach.
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    • New
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      Vero Beach Investment Opportunity

      Investment opportunity in prime location near beaches and shopping.
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    • $1,000,000

      Prime Commercial Land Opportunity

      6.14-acre commercial land for sale in Vero Beach, FL.
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    • $1,200,000
      3,474 SF

      Retail Building on US HWY 1

      3,474 SF retail building with high traffic volume.
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    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
    • $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
      147,417 SF

      South Vero Square Retail Center

      Vero Beach retail space, multiple suites available
      710-842 Us Highway 1, Vero Beach, FL 32962
      View Details
    • $15 SF/Yr
      20,880 SF

      Vero Beach Office Complex - Prime Location

      Two-building office complex, 20,880 SF, Vero Beach.
      620 Old Dixie Hwy, Vero Beach, FL 32962
      View Details
    • $18 SF/Yr
      1,364 SF

      Vero Beach Flex Space Investment

      Prime Vero Beach Convenience Store
      755 4Th St, Vero Beach, FL 32962
      View Details
    • $18 SF/Yr
      2,963 SF

      Retail Space Available For Lease

      Retail space for lease with 2963 square feet.
      710-840 S Us Highway 1, Vero Beach, FL 32962
      View Details
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    950 1st Pl
    Vero Beach, FL 32962
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    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
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