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Property profile & analytics
OFF-MARKET
Estimated value
$11,515,000
Hotels
1001 Okeechobee Blvd West Palm Beach, FL 33401-6214
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-0954172
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1981
Construction
STEEL FRAME
Total area
177,646 SF
Lot
7.78 ac (338,884 SF)
Zoning code
CLD-25
APN
74-43-43-21-12-001-0010
UPID
US18-0954172
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
West Palm Beach Marriott Hotel & Motel
-
Bistro Ten Zero One Restaurant
-
1001 Okeechobee Boulevard Parking Parking Lot & Garage
-
LeTip International Business Management Consultant
-
PM Grow Summit Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.78M
Blend (final)
Blend
$11.52M
Owner & transaction history
Lr West Palm Beach LLC · 6 yrs held
Lr West Palm Beach LLC
since 2019
5 recorded transactions
Zoning & alternative use
CLD-25 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The ClearLake district (CLD) is characterized by a mixture of high rise office and residential buildings, this district does not share the historic street grid pattern of the downtown therefore, any new development is encouraged, to the maximum extent possible, to provide a pedestrian connection between the intermodal site on the east side of the district an…
Zone name
Clearlake District 25
General category
COMMERCIAL
Zone area
20.21 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Palm Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.52M
Range $10.36M – $12.67M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$868,336
Tax year 2023
Assessed value
$38,652,569
Assessed 2023
Previous assessed
$36,000,000
+7.4% YoY
Effective rate
2.25%
On assessed value
Assessed land
$11,656,600
Assessed improvement
$26,995,969
Land market value
$11,656,600
Improvement market value
$26,995,969
Total market value
$38,652,569
Applied tax rate
84,407.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
NONE
Cooling
AC.CHILLED WATER
Buildings
3
Stories
10
Units
352
Bathrooms
999
Total area
177,646 SF
Lot
7.78 ac (338,884 SF)
Zoning code
CLD-25
APN
74-43-43-21-12-001-0010
UPID
US18-0954172
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CLD-25 · West Palm Beach, FLZoning CLD-25 · permitted uses
CLD-25 · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The ClearLake district (CLD) is characterized by a mixture of high rise office and residential buildings, this district does not share the historic street grid pattern of the downtown therefore, any new development is encouraged, to the maximum extent possible, to provide a pedestrian connection between the intermodal site on the east side of the district and Australian Avenue to the west
Zone name
Clearlake District 25
General category
COMMERCIAL
Zone area
20.21 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1981
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
10
Buildings
3
Units
352
Bathrooms
999
Lot
7.78 ac
Current owner
From public records · entity-resolved
Lr West Palm Beach LLC
Entity
Mailing address
185 W BROADWAY AVE #101, JACKSON, WY 83001-8633
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2019
$50,000,000
Lr West Palm Beach LLC
Pbm Properties LLC
Grant Deed
$30,000,000 · Wilmington Tr N 2015-lc22 (ce)
Dec 30, 2002
$20,500,000
Pbm Properties LLC
West Palm Beach Hotel Investor
Grant Deed
—
Feb 22, 2000
$12,500,000
West Palm Beach Hotel Investor
Servico West Palm Beach INC
Grant Deed
related
$11,000,000 · Ocean Bank
Nov 26, 1997
$14,000,000
Servico West Palm Beach INC
John Hancock Mutual Life Ins
Grant Deed
—
—
—
Pbm Properties LLC
—
Deed Of Trust
related
$30,000,000 · Not Available Not Available
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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