Projects
Fortified Storage Center
Project facts
- Status
- Completed
- Address
- 405 3rd Lane SW
- City
- Vero Beach, Florida
- Region
- Central-East Florida
- Submarket
- Vero Beach; Sebastian
- Units
- 15
- Amenity tier
- Flex
- Key amenities
- Private Bathrooms, 14'+ Roll-Up Doors, Mezzanine Capabilities, 14'+ Clear Heights, Impact-Rated Doors & Windows, Wash Bays & RV Stations
- Construction
- Metal
- Finish level
- Basic
- Year built
- 2022
- Flood zone
- X
Market value summary
- # of Sales (T-36)
- 4
- Avg Sale Price (T-36)
- $173 / SF
- Avg Sale Price (T-36)
- $226,000
- Avg Market Value
- $306 / SF
- Avg Market Value
- $400,000
Location Summary
Vero Beach / Vero Beach; Sebastian Overview
The site sits at 405 3rd Lane SW in the light-industrial pocket of south Vero Beach, roughly half a mile north of Oslo Road, about 3 miles south of downtown Vero Beach, and a quarter mile off the US-1 spine that carries the mainland's north to south traffic. This is Indian River County's working south end, a grid of contractor yards, marine and equipment services, and small-bay flex buildings priced well below the barrier island and the north-county corridors. The address is also the county's next growth frontier: Oslo Road, immediately south, is being rebuilt into a full interstate gateway.
Access is the site's strongest structural attribute. US-1 is within a quarter mile, State Road 60 and the county's main retail spine are about 3 miles north, the Merrill Barber and Alma Lee Loy bridges to the barrier island are inside a 12 minute drive, and Interstate 95 will be about 10 miles due west once the Oslo Road interchange opens.
Two points of metro context carry down from the platform's regional and submarket work. The Sebastian to Vero Beach metro, coextensive with Indian River County, stood at 173,013 residents in the state demographer's April 2025 estimate, inside a four-metro Central-East Florida band of roughly 2.15 million that grew about 11.6 percent over five years, close to three and a half times the national rate. That growth is tax-driven as much as climate-driven, with Florida capturing a net $20.6 billion in adjusted gross income from other states in the most recent IRS filing year, more than any state.
The immediate trade area is the county's value end rather than its wealth end, and the underwriting case rests on capture from a wider radius. Within 5 miles the median home value is $271,197 and median household income is $61,444, but the 7 and 10 mile rings step up to $302,265 and $412,437 as the radius reaches central Vero and the barrier island. County-wide the median single-family price was about $435,000 in early 2026 in a market that has tilted toward buyers, which keeps acquisition economics favorable.
Current Events & Infrastructure
- Oslo Road interchange at Interstate 95 and four-lane widening: FDOT and Indian River County are building a new I-95 interchange at Oslo Road together with a widening of the road from two lanes to four, a $95 million program funded with $61 million federal, $28 million state, and $6 million county dollars. As of February 2026 county officials reported both elements ahead of schedule, with the widening finishing at the end of 2026 and the interchange opening in early 2027. For a site half a mile off Oslo Road, this puts I-95 roughly 12 minutes away.
- 1st Street SW at 27th Avenue SW intersection reconstruction: Indian River County carries a $4.0 million intersection improvement at 1st Street SW and 27th Avenue SW in its capital program, about 3 miles west of the site, one of several southwest-quadrant projects advanced ahead of the interchange opening. It upgrades the east to west route connecting this pocket to the new build-out on 27th and 43rd Avenues.
Key Demand Drivers
Demand at this address is being manufactured in real time by the south county housing build-out. Nearly two square miles of former farmland between 27th and 43rd Avenues is entitled for roughly 3,000 homes, and the product coming out of the ground is move-up and semi-custom rather than entry level, which is exactly the household profile that acquires a second and third vehicle and then runs out of covered space at home.
- Lakeside West and Emerson Oaks: Meritage Homes is building 201 homes at Lakeside West on the west side of 43rd Avenue, with land clearing underway, while Pulte's Emerson Oaks adds 171 homes on the same corridor at 1,880 to 2,628 square feet and prices from the high $400s to about $800,000. Both sit 3 to 4 miles west of the site.
- Heritage Grove and Wisteria Walk: Oslo Holdings has 81 units approved on 19 acres fronting Oslo Road just east of 27th Avenue, under 2 miles from the site, and GHO Homes controls 36 acres at 27th Avenue and 17th Street SW for Wisteria Walk. These are the closest new rooftops to the address.
- Vero Beach Air Show: The county's largest annual event runs at Vero Beach Regional Airport about 4.5 miles north, drew more than 50,000 spectators in its Blue Angels years, has generated more than $6 million in regional economic impact and over $250,000 for local charities, and returned May 15 to 17, 2026 with the Blue Angels headlining. It is the clearest local expression of the county's mechanical-enthusiast culture.
Location Highlights
- Metro Position: Indian River County counted 173,013 residents as of April 2025 inside a Central-East Florida band that grew about 11.6 percent in five years.
- Enthusiast Culture: The Vero Beach Air Show, 4.5 miles north, is the county's signature mechanical event, with Blue Angels dates in May 2026.
- Infrastructure and Recreation: The $95 million Oslo Road interchange half a mile south, plus lagoon and boat-ramp access on Oslo Road east of US-1 that supports a trailer-owning boating base.
- Market-Specific Factor: The cost-advantaged industrial quadrant of a county whose wealth sits 4 to 8 miles north and east, so the site competes on price per square foot and drive time rather than address prestige.
- Tax and Quality of Life: No state income tax on wages, retirement income, or capital gains, the single largest driver of Florida's net $20.6 billion interstate AGI gain.
- High Net Worth Concentration: 768 households earn $200,000 or more within 3 miles, 1,242 within 5 miles, and 2,156 within 7 miles, with the count climbing to 5,979 at 10 miles as the ring captures central Vero and the barrier island.
Area Demographics (ACS 2024)
5-Mile Profile: Population 59,163 | Median HH Income $61,444 | HH Earning $150K+ 10.8% | Median Age 47.4 | Age 55+ 42.0% | Seasonal Units 11.1% | Households with 3+ Vehicles 14.6%
Wealth Index: 1.4 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 1 | 1,307 SF | $400,000 | $306 / SF |
| Unit 2 | 1,307 SF | $400,000 | $306 / SF |
| Unit 3 | 1,307 SF | $400,000 | $306 / SF |
| Unit 4 | 1,307 SF | $400,000 | $306 / SF |
| Unit 5 | 1,307 SF | $400,000 | $306 / SF |
| Unit 6 | 1,307 SF | $400,000 | $306 / SF |
| Unit 7 | 1,307 SF | $400,000 | $306 / SF |
| Unit 8 | 1,307 SF | $400,000 | $306 / SF |
| Unit 9 | 1,307 SF | $400,000 | $306 / SF |
| Unit 10 | 1,307 SF | $400,000 | $306 / SF |
| Unit 11 | 1,307 SF | $400,000 | $306 / SF |
| Unit 12 | 1,307 SF | $400,000 | $306 / SF |
| Unit 13 | 1,307 SF | $400,000 | $306 / SF |
| Unit 14 | 1,307 SF | $400,000 | $306 / SF |
| Unit 15 | 1,307 SF | $400,000 | $306 / SF |