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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Office buildings
983 12th St Vero Beach, FL 32960-6725
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-3255450
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,782 SF
Lot
1.37 ac (59,677 SF)
Zoning code
CH
APN
33-39-12-00009-0000-00004.0
UPID
US18-3255450
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
-
Minuteman Press Marketing & Advertising Advertising Agency
-
Rx Minuteman Press Department Store
-
Blue Turtle News Advertising Agency Newspaper & Magazine
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$2.46M
Blend (final)
Blend
$2.08M
Owner & transaction history
Spinnaker 12th Street LLC · 11 yrs held
Spinnaker 12th Street LLC
since 2015
7 recorded transactions
Zoning & alternative use
CH · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.0M
+28.1%
Auto repair, garage
$2.8M
+18.6%
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%
$2,430,000
6.5%
$2,245,000
7%
$2,085,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,340,000
Current use
MEDICAL BUILDING
$2,995,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,775,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$2,325,000
Change: -1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,210,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$1,875,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±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
$162 / 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
$20,891
Tax year 2023
Assessed value
$1,233,933
Assessed 2023
Previous assessed
$1,235,059
-0.1% YoY
Effective rate
1.69%
On assessed value
Assessed land
$253,368
Assessed improvement
$980,565
Land market value
$253,368
Improvement market value
$980,565
Total market value
$1,233,933
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
5
Total area
12,782 SF
Lot
1.37 ac (59,677 SF)
Zoning code
CH
APN
33-39-12-00009-0000-00004.0
UPID
US18-3255450
Jurisdiction
INDIAN RIVER
Zoning & alternative use
CH · Vero Beach, FLZoning CH · permitted uses
CH · 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
OFFICE BUILDING Current
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.9M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
5
Lot
1.37 ac
Current owner
From public records · entity-resolved
Spinnaker 12th Street LLC
Entity
Mailing address
983 12TH ST, VERO BEACH, FL 32960-6725
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2025
—
Spinnaker 12th Street LLC
—
Deed
related
$106,500 · United States Small Business Admin
Jan 22, 2025
—
Spinnaker 12th Street LLC
—
Deed
related
$37,900 · United States Small Business Admin
Mar 18, 2020
—
Spinnaker 12th Street LLC
—
Deed
related
$3,150,000 · Newtek Small Busn Fin
Aug 28, 2017
—
Spinnaker 12th Street LLC
—
Deed
related
$100,000 · Marine Bk
Aug 24, 2017
—
Spinnaker 12th Street LLC
—
Deed
related
$1,631,000 · Marine Bank & Trust Co
May 17, 2016
—
Spinnaker 12th Street LLC
—
Deed
related
$269,000 · Harbor Community Bank
Apr 9, 2015
$1,550,000
Spinnaker 12th Street LLC
Sammartino Alfred & Betty
Warranty Deed
$1,150,000 · Alfred & Betty J Sammartino
Aug 30, 1999
$212,500
Alfred Sammartino
Guertin,allan A
Grant Deed
—
—
—
Spinnaker 12th Street LLC
—
Deed Of Trust
related
$3,150,000 · Newtek Small Busn Fin
—
—
Spinnaker 12th Street LLC
—
Deed Of Trust
related
$100,000 · Marine Bk
—
—
Alfred Sammartino
—
Deed Of Trust
related
$500,000 · Suntrust Bank Fort Lauderdale
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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