NOT LISTED FOR SALE

721 Grove Place Vero Beach, FL 32963

Estimated Value: $5,569,000 - $8,563,000

5 Beds
9 Baths
8,986 Sq Ft
$767/Sq Ft Est. Value

Last Sold December 03, 2020

Last sale price $5,000,000 $556 Per Sq Ft

Est. 40% increase in value since last sale

Current estimated payment $44,692/month

1,467 Days on Market

Highlights

  • Beach Access
  • Fitness Center
  • Cabana
  • Beachland Elementary School Rated A-
  • Gated with Attendant
  • River View

About This Home

As of December 2020

Exceptional riverfront estate incl oceanfront cabana. Courtyard pool & spa. 2BR/5BA main house, 2BR/2BA guest house + 1BR/2BA guest house. Main house offers living & dining room w/glass doors to lanai & 2nd pool. Elevator to impressive 2nd floor master ste w/expansive balcony, office, & piano rm. Unrivaled views from spacious lanais overlooking pool & dock. Sizes approx./subject to error

Last Agent to Sell the Property

Matilde Sorensen

Dale Sorensen Real Estate Inc. License #0316531 Listed on: 10/27/2016

Dale Sorensen Real Estate Inc.

Last Buyer's Agent

Matilde Sorensen

Dale Sorensen Real Estate Inc. License #0316531 Listed on: 10/27/2016

Dale Sorensen Real Estate Inc.

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $95,892

Year Built

  • Built in 2005

Lot Details

  • Lot Dimensions are 135x336
  • River Front
  • East Facing Home
  • Sprinkler System

Parking

  • 4 Car Attached Garage
  • Garage Door Opener
  • Driveway

Home Design

  • Tile Roof
  • Stucco

Interior Spaces

  • 2-Story Property
  • Wet Bar
  • Crown Molding
  • Vaulted Ceiling
  • 7 Fireplaces
  • Casement Windows
  • French Doors
  • River Views

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Wine Cooler
  • Disposal

Flooring

  • Wood
  • Marble

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Split Bedroom Floorplan
  • Closet Cabinetry
  • Walk-In Closet
  • 9 Full Bathrooms

Laundry

  • Laundry Room
  • Laundry on lower level
  • Dryer
  • Washer
  • Laundry Tub

Home Security

  • Security System Owned
  • Hurricane or Storm Shutters

Pool

  • Cabana
  • Outdoor Pool
  • Spa
  • Heated Pool

Outdoor Features

  • Beach Access
  • Balcony
  • Covered patio or porch
  • Outdoor Kitchen
  • Built-In Barbecue

Utilities

  • Multiple cooling system units
  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Tax Lot 255
  • Assessor Parcel Number 31392200011000000255.0

Community Details

Overview

  • Association fees include common areas, reserve fund, security
  • Private Membership Available
  • Orchid Island Association
  • Orchid Island Subdivision

Amenities

  • Clubhouse
  • Elevator

Recreation

  • Tennis Courts
  • Fitness Center
  • Community Pool

Security

  • Gated with Attendant

Home Details

Home Type

Single Family

Est. Annual Taxes

$95,892

Year Built

Built in 2005

Lot Details

0

Parking

4

Listing Details

  • Property Sub Type: Detached
  • Prop. Type: Residential
  • Lot Size: 135x336
  • Ownership: Single Family/Other
  • Subdivision Name: Orchid Island
  • Directions: Orchid Island entrance off 510, Past guard turn left at stop sign to #721 on right.
  • Architectural Style: Two Story
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: No
  • Property Attached Yn: No
  • Building Stories: 2
  • Year Built: 2005
  • ResoBuildingAreaSource: PublicRecords
  • Property Sub Type Additional: Detached
  • Attribution Contact: 772-231-4712
  • Special Features: None
  • Stories: 2

Interior Features

  • Furnished: Unfurnished
  • Spa Features: Hot Tub
  • Private Spa: Yes
  • Appliances: Dryer, Dishwasher, Electric Water Heater, Disposal, Microwave, Range, Refrigerator, Wine Cooler, Washer
  • Full Bathrooms: 9
  • Total Bedrooms: 5
  • Door Features: French Doors
  • Fireplaces: 7
  • Fireplace: Yes
  • Flooring: Marble, Wood
  • Interior Amenities: Wet Bar, Closet Cabinetry, Crown Molding, Elevator, High Ceilings, Pantry, Split Bedrooms, Vaulted Ceiling(s), Walk-In Closet(s), French Door(s)/Atrium Door(s)
  • Stories: 2
  • Window Features: Casement Window(s), Impact Glass, Window Treatments
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Lot Features: 1/2 to 1 Acre Lot
  • Pool Features: Electric Heat, Heated, Pool, Private, Community
  • Pool Private: Yes
  • View: River
  • View: Yes
  • Waterfront Features: River Front, Beach Access
  • Waterfront: Yes
  • Disclosures: First Right of Refusal
  • Construction Type: Block, Concrete, Stucco
  • Direction Faces: East
  • Exterior Features: Built-in Barbecue, Balcony, Barbecue, Sprinkler/Irrigation, Outdoor Kitchen, Porch, Patio, Propane Tank - Owned, Storm/Security Shutters
  • Other Structures: Cabana
  • Patio And Porch Features: Covered, Patio, Porch
  • Roof: Tile

Garage/Parking

  • Garage Spaces: 4.0
  • Parking Features: Attached, Driveway, Garage, Garage Door Opener

Utilities

  • Laundry Features: Lower Level, Laundry Room, Laundry Tub
  • Security: Security System Owned, Gated with Guard, Security Guard
  • Cooling: Central Air, Electric, 3+ Units
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Sewer: County Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Club Membership Available, Clubhouse, Elevator, Fitness, Other, Pool, Tennis Court(s)
  • Association Fee: 350.0
  • Association Name: Orchid Island
  • Pets Allowed: Yes

Fee Information

  • Association Fee Includes: Common Areas, Reserve Fund, Security

Lot Info

  • Parcel #: 31392200011000000255.0
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 95892.0
  • Tax Lot: 255
  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 27, 2016
Closed on
Nov 23, 2020
Sold by
Virgo Associates Of Florida Llc
Bought by
Grove Vero Llc
Seller's Agent
Matilde Sorensen
Dale Sorensen Real Estate Inc.
Buyer's Agent
Matilde Sorensen
Dale Sorensen Real Estate Inc.
List Price
$8,875,000
Sold Price
$5,000,000
Premium/Discount to List
-$3,875,000
-43.66%
Current Estimated Value
$7,001,514

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,001,514
Avg. Annual Appreciation
7.29%
Original Mortgage
$3,250,000
Outstanding Balance
$2,904,640
Interest Rate
2.25%
Mortgage Type
New Conventional
Estimated Equity
$4,050,410

Purchase Details

Closed on
Jul 9, 2009
Sold by
Wackenhut Ruth J and Paul Donald B
Bought by
Virgo Associates Of Florida Llc

Purchase Details

Closed on
Jun 30, 2005
Sold by
Brobergs Peter S
Bought by
Wackenhut Ruth J and Paul Donald B

Purchase Details

Closed on
Aug 1, 2002
Sold by
Newleaf Ltd
Bought by
Broberg Peter S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,150,000
Interest Rate
6.62%

Purchase Details

Closed on
Mar 28, 2001
Sold by
Newleaf Ltd
Bought by
Bryson Vaughn D and Bryson Nancy F

Purchase Details

Closed on
Apr 30, 1998
Sold by
Orchid Island Prop Inc
Bought by
Newleaf Ltd
Source: Public Records

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Grove Vero Llc $5,000,000 Attorney
Virgo Associates Of Florida Llc -- Attorney
Wackenhut Ruth J $10,000,000 --
Broberg Peter S $1,355,000 --
Orchid Island Prop Inc $450,000 --
Bryson Vaughn D $100,000 --
Newleaf Ltd $1,235,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Grove Vero Llc $3,250,000
Previous Owner Broberg Peter S $2,150,000
Previous Owner Broberg Peter S $2,150,000
Previous Owner Broberg Peter S $430,000
Previous Owner Broberg Peter S $3,350,000
Previous Owner Orchid Island Prop Inc $3,150,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/03/2020 12/03/20 Sold $5,000,000 -43.7% $556 / Sq Ft
11/03/2020 11/03/20 Pending -- -- --
10/27/2016 10/27/16 For Sale $8,875,000 -- $988 / Sq Ft
Source: REALTORS® Association of Indian River County

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $76,281 $6,583,372 $1,358,088 $5,225,284
2023 $76,281 $4,969,201 $0 $0
2022 $63,633 $4,517,456 $1,018,566 $3,498,890
2021 $66,166 $4,442,950 $1,018,566 $3,424,384
2020 $94,063 $6,025,719 $882,757 $5,142,962
2019 $95,892 $6,081,498 $882,757 $5,198,741
2018 $96,242 $6,068,045 $869,176 $5,198,869
2017 $104,296 $6,123,825 $0 $0
2016 $98,337 $6,081,660 $0 $0
2015 $94,531 $6,043,380 $0 $0
2014 $80,426 $5,049,020 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Matilde Sorensen

    Seller's Agent in 2020

    Matilde Sorensen

    Dale Sorensen Real Estate Inc.

    (772) 532-0010

    257 Total Sales

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Map

Source: REALTORS® Association of Indian River County

MLS Number: 176990

APN: 31-39-22-00011-0000-00255.0

Florida Indian River County Vero Beach 32963

721 Grove Place, Vero Beach, FL

This home is located at 721 Grove Place, Vero Beach, FL 32963 since 27 October 2016 and is currently estimated at $6,891,060, approximately $766 per square foot. This property was built in 2005. 721 Grove Place is a home located in Indian River County with nearby schools including Beachland Elementary School, Gifford Middle School, and Sebastian River High School.

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