3730 7Th TerGifford, FL 32960

Property Details for 3730 7Th Ter

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.96 AC

Property size (Sq ft)

22,787 SF

Zone code

OCR

Property type

Healthcare properties

Property subtype

Medical offices

APN

32-39-25-00002-0000-00001.0

APU

9223372036854775807

Description

This exceptional Class A medical office building, located at 3730 7th Terrace in Vero Beach, Florida (zip code 32960), offers 22,787 square feet of space, with 4,486 square feet currently vacant. Built in 1997, the property sits on a 1.96-acre lot and boasts ample parking, a significant advantage in this high-demand area. The building's prime location within a thriving medical node places it directly across from Cleveland Clinic Indian River Hospital, ensuring high visibility and convenient access for patients and staff. The building's multiple tenancy structure provides flexibility for various medical practices. Available spaces range from 1,432 to 1,910 square feet, ideal for expanding or relocating medical practices. The property's established presence in the community and its proximity to a major hospital make it an attractive investment opportunity. This is a well-maintained, highly sought-after building in a key medical submarket. The property is classified as a professional office building and is suitable for various medical office uses. Its strategic location and ample parking make it a highly desirable location for medical professionals. The building's excellent condition and strong location within the Medical Node submarket present a compelling opportunity for growth and success.

• CAP approach

  CAP return

  Valuation

  6%

  $8,598,979

  6.5%

  $7,937,519

  7%

  $7,370,554

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,808,634

  Geo Method

  $5,808,634

• Alternative Use

  Use

  Valuation

  Residential

  $9,842,524

  Hospitality

  $9,015,699

  Educational

  $7,500,956

  Medical

  $7,758,925

  Retail

  $11,668,153

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6609

Longitude

-80.3886

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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