Projects
Vero Beach AutoHaus
Project facts
- Status
- Completed
- Address
- 950 12th St
- City
- Vero Beach, Florida
- Region
- Central-East Florida
- Submarket
- Vero Beach; Sebastian
- Units
- 37
- Amenity tier
- Standard
- Key amenities
- 14'+ Roll-Up Doors, 18'+ Clear Heights, Mezzanine Capabilities, Gated Access & Security, Wash Bays & RV Stations
- Construction
- Block
- Finish level
- Basic
- Year built
- 2019
- Flood zone
- X
Market value summary
- # of Sales (T-36)
- 2
- Avg Sale Price (T-36)
- Under 3 sales
- Avg Sale Price (T-36)
- Under 3 sales
- Avg Market Value
- $460 / SF
- Avg Market Value
- $470,000
Location Summary
Vero Beach / Vero Beach; Sebastian Overview
The site sits at 950 12th Street, inside the City of Vero Beach and roughly one mile south of the downtown core, in the established central-city block pattern between the Florida East Coast rail line and the residential grid west of Indian River Boulevard. This is the most centrally positioned of the county's mainland addresses. The Twin Pairs, the paired one-way State Road 60 lanes crossing the city, are about a mile north; the Alma Lee Loy Bridge and the barrier island are a five to seven minute drive east; and the city's civic, medical, and cultural institutions sit inside a three mile radius.
The submarket that surrounds it is the cultural and retail center of Indian River County, and its buyer base is estate-oriented and seasonal, weighted toward affluent retirees and second-home owners rather than a commuting workforce. Cleveland Clinic Indian River Hospital, the corridor's largest institutional anchor, sits about 2 miles north and stabilizes the professional population immediately around the site. Within 3 miles of the address 704 households earn $200,000 or more against a median home value of $276,325, but the ring widens sharply outward as it captures the barrier island, reaching 3,971 such households and a $408,032 median home value at 7 miles and 6,580 households at 10 miles. The underwriting logic here is central-city convenience serving barrier-island wealth, not local wealth density.
Two lines of metro context, condensed from the platform's regional work: the Sebastian to Vero Beach metro counted 173,013 residents in the April 2025 state estimate inside a four-metro Central-East Florida band of roughly 2.15 million that grew about 11.6 percent over five years. Florida captured a net $20.6 billion in adjusted gross income from other states in the latest IRS filing year, more than any state, driven by the absence of a state income tax.
Current Events & Infrastructure
- Three Corners waterfront redevelopment: The City of Vero Beach is redeveloping the former "Big Blue" power plant site at 17th Street and Indian River Boulevard, about 1.2 miles northeast of this address, into a waterfront village of hotels, restaurants, shops, a marina, event venues, public parks, and continuous public waterfront access. Master developer ClearPath is negotiating the development agreement and lease under an estimated $250 million program; the city granted a 30-day extension in June 2026 moving the deadline to August 11, 2026, with construction potentially beginning within about a year. It is the largest change coming to the address's immediate surroundings.
- Vero Beach Museum of Art "Museum in the Garden": The museum broke ground in November 2025 on a $126 million expansion at Riverside Park, roughly 2.4 miles northeast, that will roughly double its space and open in 2028. The campaign had reached $110 million by early 2026, funded entirely by individual donations and described as one of the largest private campaigns in Treasure Coast history; construction was underway as of May 2026.
Key Demand Drivers
Central Vero's demand does not come from an employment cluster. It comes from proximity: a downtown district being rebuilt for density, a cultural campus absorbing more than $126 million of private capital, and a barrier-island ownership base three miles east that wants secure enclosed space it can reach in minutes.
- Downtown Vero Beach master plan district: About one mile north, the city adopted a downtown master plan centered on four blocks of 14th Avenue between 19th and 23rd Streets. The plan passed City Council 4 to 1 and is paired with referendums raising allowable residential density to 36 units per acre from 17 and establishing transfer of development rights.
- Under the Oaks Fine Arts and Crafts Show: Held at Riverside Park about 2.4 miles northeast, the show ran its 75th edition in March 2026 with more than 200 juried artists and more than 50,000 attendees, and patrons ranked it eighth nationally in Sunshine Artist's 200 Best Fine Arts and Design Shows. It is the county's largest cultural draw.
- Riverside Theatre: At 3250 Riverside Park Drive, about 2.4 miles northeast, the Treasure Coast's principal professional theatre operates the 692-seat Stark Stage, the 300-seat Anne Morton Theatre, the 250-capacity Waxlax Stage, and an outdoor Live in the Loop venue seating more than 200, giving the area a year-round evening economy.
- Indian River Boulevard bicycle and pedestrian corridor: Indian River County has a $5 million to $6 million bicycle and pedestrian improvement programmed on Indian River Boulevard from 4th Street to 17th Street, running roughly 0.9 miles east of the site and connecting directly to the Three Corners parcel. It knits this block into the riverfront redevelopment.
Location Highlights
- Metro Position: The Sebastian to Vero Beach metro reached 173,013 residents in April 2025 inside a Central-East Florida band of roughly 2.15 million that grew about 11.6 percent in five years.
- Enthusiast Culture: A collector culture expressed through the arts and the water rather than the track, anchored by a $126 million museum expansion and a 200-artist juried show drawing more than 50,000 people each March, both about 2.4 miles from the site.
- Infrastructure and Recreation: The $250 million Three Corners waterfront village 1.2 miles northeast and a $5 million to $6 million Indian River Boulevard trail project 0.9 miles east.
- Market-Specific Factor: The county's shortest drive-time address to the barrier island, which matters for seasonal owners checking on a vehicle in a ten minute round trip.
- Tax and Quality of Life: No state income tax on wages, retirement income, or capital gains, the decisive factor behind Florida's net $20.6 billion interstate AGI gain and the county's estate-oriented, seasonal buyer base.
- High Net Worth Concentration: 704 households earn $200,000 or more within 3 miles, 1,633 within 5 miles, and 3,971 within 7 miles, climbing to 6,580 at 10 miles as the ring captures the full barrier island.
Area Demographics (ACS 2024)
5-Mile Profile: Population 58,714 | Median HH Income $65,666 | HH Earning $150K+ 13.0% | Median Age 47.4 | Age 55+ 42.3% | Seasonal Units 11.9% | Households with 3+ Vehicles 14.5%
Wealth Index: 2.4 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 1 | 889 SF | $403,000 | $454 / SF |
| Unit 1 | 948 SF | $446,000 | $471 / SF |
| Unit 1 | 701 SF | $330,000 | $470 / SF |
| Unit 1 | 1,239 SF | $551,000 | $445 / SF |
| Unit 1 | 835 SF | $383,000 | $459 / SF |
| Unit 1 | 922 SF | $436,000 | $473 / SF |
| Unit 2 | 1,165 SF | $526,000 | $451 / SF |
| Unit 2 | 1,257 SF | $557,000 | $443 / SF |
| Unit 2 | 1,093 SF | $500,000 | $458 / SF |
| Unit 2 | 1,022 SF | $474,000 | $464 / SF |
| Unit 2 | 994 SF | $464,000 | $467 / SF |
| Unit 2 | 1,024 SF | $475,000 | $464 / SF |
| Unit 3 | 1,257 SF | $557,000 | $443 / SF |
| Unit 3 | 1,107 SF | $505,000 | $456 / SF |
| Unit 3 | 1,161 SF | $524,000 | $452 / SF |
| Unit 3 | 1,015 SF | $472,000 | $465 / SF |
| Unit 3 | 1,022 SF | $474,000 | $464 / SF |
| Unit 3 | 1,025 SF | $475,000 | $464 / SF |
| Unit 4 | 744 SF | $347,000 | $466 / SF |
| Unit 4 | 1,240 SF | $551,000 | $444 / SF |
| Unit 4 | 1,025 SF | $475,000 | $464 / SF |
| Unit 4 | 1,022 SF | $474,000 | $464 / SF |
| Unit 4 | 1,166 SF | $526,000 | $451 / SF |
| Unit 4 | 1,054 SF | $486,000 | $461 / SF |
| Unit 5 | 1,024 SF | $475,000 | $464 / SF |
| Unit 5 | 1,068 SF | $491,000 | $460 / SF |
| Unit 5 | 1,071 SF | $492,000 | $460 / SF |
| Unit 5 | 1,160 SF | $524,000 | $452 / SF |
| Unit 5 | 1,024 SF | $475,000 | $464 / SF |
| Unit 6 | 1,020 SF | $473,000 | $464 / SF |
| Unit 6 | 746 SF | $348,000 | $466 / SF |
| Unit 6 | 1,056 SF | $487,000 | $461 / SF |
| Unit 6 | 1,164 SF | $525,000 | $451 / SF |
| Unit 6 | 1,017 SF | $472,000 | $464 / SF |
| Unit 7 | 922 SF | $436,000 | $473 / SF |
| Unit 7 | 834 SF | $383,000 | $459 / SF |
| Unit 7 | 834 SF | $383,000 | $459 / SF |