Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    274 Monterey Road Palm Beach, FL 33480

    View on Map
    Claim this Listing
    For Sale
    $7,995,000

    LAND - Palm Beach, FL

    Lot size:
    0.31 Acres
    Added:
    Jan 1, 2026
    Days on Market:
    107
    Last Refresh:
    Apr 18 at 7:06 am

    Property Features for 274 Monterey Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-B(ci
    Vegetation
    Grassed
    Standard status
    Active
    APN
    50434303130000210
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    GREGORY ADDITION LT 21 & E 55 FT OF LT 23
    Tax Annual Amount
    113708

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Dovi Ettedgui

    Listing agent Dovi Ettedgui License #3457626

    Listing office Serhant 648 George Bush Blvd., New York, FL

    Listing date Jan 1, 2026

    MLS# R11150584 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Palm Beach Land Opportunity

    This property in Palm Beach, Florida, features a Bermuda-style home with three bedrooms, three bathrooms, and an office, situated on a 13,500-square-foot lot (0.31 acres). The lot offers the option to build new or maintain the existing property's North End Bermuda charm. The existing home includes impact windows and doors, a full-house generator, and a two-car air-conditioned garage. The property is surrounded by lush tropical landscaping and includes a pool. Located in the North End, Monterey has lake trail and easy beach access nearby. The zoning is R-B(ci.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.039898
    Latitude
    26.752645

    Nearby Similar for Sale

    • $2,750,000
      1,276 SF

      Palm Beach Commercial Office Flex

      Renovated 1,276 SF office suite near Worth Avenue.
      249 Peruvian Avenue, Palm Beach, FL 33480
      View Details
    • $1,195,000
      1,294 SF

      Palm Beach Oceanfront Renovated Co-op

      Renovated oceanfront co-op with modern finishes and stunning views.
      2780 S Ocean Boulevard, Palm Beach, FL 33480
      View Details
    • $359,000
      824 SF

      Oceanfront Coop in Palm Beach

      55+ oceanfront coop with intracoastal and ocean views.
      3030 S Ocean Boulevard, Palm Beach, FL 33480
      View Details
    • $39,500,000

      Palm Beach Waterfront Estate Opportunity

      Rare waterfront lot with Intracoastal and golf course views.
      350 Island Road, Palm Beach, FL 33480
      View Details
    • $10,900,000

      Palm Beach Oversized Lot

      Rare opportunity to build your dream home in Palm Beach.
      1421 N Lake Way, Palm Beach, FL 33480
      View Details
    • $41,000,000

      Palm Beach Waterfront Estate Opportunity

      Rare waterfront property with Intracoastal frontage in Palm Beach.
      350 Island Road, Palm Beach, FL 33480
      View Details
    • $515,000
      357 SF

      Palm Beach Commercial Condo

      Premium commercial/office space near The Royal Poinciana Plaza.
      44 Cocoanut Row, Palm Beach, FL 33480
      View Details
    • $835,000
      583 SF

      Palm Beach Commercial Condo

      Prime commercial/office space near The Royal Poinciana Plaza.
      44 Cocoanut Row, Palm Beach, FL 33480
      View Details
    • $3,000,000

      Income Producing Palm Beach Farmland

      32-acre Palm Beach County farm with warehouse and living quarters.
      47430 State Rd #80, Palm Beach, FL 33440
      View Details
    • $16,100,000

      Prime Palm Beach Island Lot

      Oversized lot near the beach with development potential.
      1333 N Lake Way, Palm Beach, FL 33480
      View Details
    • $2,995,000
      2,269 SF

      Palm Beach Commercial Condo Opportunity

      Interconnected commercial/office space near Royal Poinciana Plaza in Palm Beach.
      44 Cocoanut Row, Palm Beach, FL 33480
      View Details
    • $1,900,000
      1,329 SF

      Versatile Commercial Space in Palm Beach

      Commercial condo with valet, parking, and restaurant access near Plaza.
      44 Cocoanut Row, Palm Beach, FL 33480
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with option to build or maintain existing charm.
    Where is this residential land & home lot located?
    The property is located at 274 Monterey Road Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $7,995,000.
    What are key features of this property?
    This property features: 13,500 SqFt Lot with option to build new.; Impact windows and doors.; Full house generator for peace of mind.
    (561) 900-8395
    We can help!
    Listing Contact
    Dovi Ettedgui
    Real Estate License ID: 3457626
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!