Vero Beach, FL 32960
P-2 zoning and Future Land Use Map designations for these City properties. ATTACHMENTS: Marina Master Plan [#SP22-000005] Marina Dry Storage Building Site Plan Report CITY CHARTER SECTION 5.05 FACTS Q. What is Section 5.05, Limitation on alienation of city-owned real property, in the City Charter? A. Primary purpose of the Section 5.05 is to limit City Counc…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
P-2 · Vero Beach, FLP-2 zoning and Future Land Use Map designations for these City properties. ATTACHMENTS: Marina Master Plan [#SP22-000005] Marina Dry Storage Building Site Plan Report CITY CHARTER SECTION 5.05 FACTS Q. What is Section 5.05, Limitation on alienation of city-owned real property, in the City Charter? A. Primary purpose of the Section 5.05 is to limit City Council’s authority to sell, trade, gift or lease City owned public lands without the authorization of the citizens of Vero Beach. There are 26 City-owned properties listed in the City Charter. Any sale, lease, trade, gift of these properties has to be approved by the citizens of the City of Vero Beach by referendum. Q. Are all the properties listed in Section 5.05 City Parks? A. No. There are operating or decommissioned public facilities, such as the former power plant and current sewer plant sites, listed in Section 5.05 of the City Charter. The following 26 parks, recreation facilities, public open space land, and public facilities are listed (protected) in Section 5.05 of the City Charter: Community or neighborhood parks : Riverside Park, Veterans Memorial Island Sanctuary, Pocahontas Park, Troy Moody Park, Young Park, Charles Park, Jacoby Park, Piece of Pie Park, & Van Busch Park Beach parks : Humiston Beach Park, Jaycee Beach Park, & South Beach Park Recreation parks or facilities : Alex MacWilliam Park, Municipal Marina, Bob Summers Park, Alex MacWilliam Boat Basin Park, Leisure Square, Michael Field, & Royal Palm Pointe Park Open space lands : Block Manor Park, Pine Terrace Park, & Lake Rose Operating or decommissioned public facilities : former City Power Plant; City Wastewater Treatment Plant; Crestlawn Cemetery, & Old City Nursery Q. Why are non-profit facilities located on Charter protected properties? A . Subsection (b) of Section 5.05 permits City Council to lease the public properties listed in Section 5.05 for public or civic purpose that serve a recreation, artistic or cultural purpose or incidental concession.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.