3755 7Th TerVero Beach, FL 32960

Property Details for 3755 7Th Ter

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.11 AC

Property size (Sq ft)

23,812 SF

Zone code

OCR

Property type

Healthcare properties

Property subtype

Medical offices

APN

32-39-25-00002-0000-00006.0

APU

9223372036854775807

Description

This exceptional Class A medical office building, located at 3755 7th Terrace in Vero Beach, Florida (zip code 32960), offers 19,700 square feet of prime space. The building, constructed in 1999, features six suites, with a minimum divisible space of 1,316 square feet and a maximum contiguous space of 8,195 square feet. Currently, 18,858 square feet is available for lease. The property boasts ample parking and a single passenger elevator, ensuring convenient access for patients and staff. Its strategic location in the Medical District of Indian River County, near Indian River Blvd & 37th Street, provides excellent visibility and accessibility. The building is zoned MED, reflecting its suitability for medical and professional uses. The property benefits from its proximity to major medical facilities, including the Cleveland Clinic, further enhancing its appeal and potential for success. This is a rare opportunity to secure high-quality medical office space in a thriving Vero Beach medical hub. The building's existing tenants include Advanced Dermatology and Cosmetic Surgery, Dental Buddies of Vero Beach, and Florida Cancer Specialist.

• CAP approach

  CAP return

  Valuation

  6%

  $9,277,667

  6.5%

  $8,564,000

  7%

  $7,952,286

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,069,917

  Geo Method

  $6,069,917

• Alternative Use

  Use

  Valuation

  Residential

  $10,619,360

  Hospitality

  $9,727,277

  Educational

  $8,092,980

  Medical

  $8,371,310

  Retail

  $12,589,080

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6612

Longitude

-80.3877

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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