At $209/sqft for a 2002 waterfront home on the barrier island, you're getting direct water access in one of Florida's most development-restricted communities—but the 1,628 sqft footprint on a tiny 0.08-acre lot means you're paying primarily for location and water views rather than land or square footage value. The real question is whether this property captures the Vero Beach premium (sophisticated buyer base, arts scene, lagoon access) or sits in a pocket where the waterfront doesn't command the same cache as homes on the more established parts of the island. Given the age and modest lot size, seriously scrutinize what condition issues a 22-year-old waterfront property might have and whether the water access justifies the premium over comparable non-waterfront homes in the area.

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