If you are in the market for a substantial building or some prime development land in or around Vero Beach, the Indian River County School District may have a deal for you. The district has asked commercial real estate broker Cushman & Wakefield to list five school sites and four undeveloped pieces of land in order to assess their market value and entertain offers from potential buyers. Chicago-based Cushman & Wakefield operates around 400 real estate offices around the globe. The district has ended up with surplus land and buildings because of declining enrollment due to demographic trends and competition from charter schools. It has 2,000 fewer students now than it did in 2019, which has made some school buildings redundant. The district’s land portfolio also includes a number of parcels that developers were required to set aside as school sites but that were never needed for new schools. The district is in the process of combining elementary and middle schools and relocating students to fill partially empty classrooms and give parents a wider range of educational choices for their children. Consolidating students at fewer locations and closing some school campuses saves the district money on operations and staves off a certain type of charter school that the state has empowered to occupy unused public school space at no cost. School board members and Schools Superintendent David Moore view the so-called Schools of Hope initiative, which is meant to improve learning in low-preforming districts, as illogical and disruptive in Indian River County. Under Moore’s leadership, the district has gotten consistent A ratings from the state and is now ranked fifth-best out of 67 districts in Florida. Selling the schools and undeveloped land could pump millions of dollars into the district’s Capital Outlay budget, which is restricted to capital and infrastructure expenses, including major maintenance projects and equipment purchases, said Kyar Schafte, the district’s director of strategic communications and marketing. Before any properties can be sold, Moore would have to recommend that they be declared surplus and obtain approval from the school board, Schafte said. Cushman & Wakefield’s fees would be paid when the properties are sold, same as in most real estate transactions. The schools being listed by Cushman & Wakefield include: The Wabasso School, located at 8895 U.S. 1, Sebastian, sits on 3.61 acres and has around 22,877 square feet of interior space, including the main building, which was built in 1925 and served as the area’s first school. It eventually evolved to focus on special needs student education for students ages 5-22, who will be moving this summer to the Glendale Elementary School campus on 8th Street in Vero Beach. The property has an assessed value of $1,237,065, according to county property appraiser records. Rosewood Magnet School, 3850 16th St., Vero Beach, sits on 20.75 acres. Rosewood Magnet’s K-5 students and faculty will move to the Storm Grove Middle School campus this summer. The Rosewood Magnet campus is being temporarily repurposed as the Creative Learning Lab, which will provide tutoring and other student support services. This property has an assessed value of $3,654,730. Sebastian Elementary School, 400 Sebastian Blvd., Sebastian, sits on 41.1 acres. Its students and faculty will move in with students and faculty at the Sebastian River Middle School campus, leaving the school empty. The property has an assessed value of $4,266,901. Osceola Magnet School, 1110 18th Ave. SW, Vero Beach, occupies 15 acres. It will expand to a K-8 school and move this summer to the Oslo Middle School campus on 20th Avenue SW. Current plans include possibly repurposing the 18th Avenue school as a south county satellite campus for Treasure Coast Technical College. This property has an assessed value of $3,908,754. The Exceptional Student Education Center, 1426 and 1427 19th St., Vero Beach, consists of 16,559 square feet of buildings on 2 acres in downtown Vero Beach. Faculty and staff will be transitioning to new, yet-to-be-determined locations this summer. These two properties have a combined assessed value of $748,649. Land listed by Cushman & Wakefield includes: 56 acres on the west side of 20th Avenue between 9th Street SW and 5th Street SW., Vero Beach. The property is zoned for low-density residences up to 6 units per acre. The assessed value is $1,289,741. 2.32 acres at 6580 U.S. 1, Vero Beach. The property is zoned for multifamily residences up to three units per acre. The assessed value is $187,300. 1.93 acres at 12870 81st Ave., Sebastian. The property is zoned for single-family residences. The assessed value is $106,633. 7.41 acres at 2462 20th Ave. and 1840 25th St., Vero Beach. The property is zoned for multifamily residences up to 10-12 units per acre. The assessed value is $1,140,783. These values are based on the most recent county assessments, which are lower than market values. All told, the properties are likely worth well over $20 million. When an offer is made on any of the properties, a commercial appraisal will be conducted as part of the due diligence for sale, Schafte said. Interested parties may contact Ken Krasnow at Cushman & Wakefield, school officials said.