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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10229 Okeechobee Blvd Royal Palm Beach, FL 33411-1403

    • Community centers
    • 19,740 SF
    • 4.95 lot acres
    OFF-MARKET
    Value Estimations
    $6,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3927005
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Community centers

    Property Details for 10229 Okeechobee Blvd

    Year built
    2005
    Construction
    CONCRETE
    Lot size
    4.95 lot acres
    Property size
    19,740 SF
    Zone code
    CG
    Property type
    Community centers
    APN
    72-41-43-24-02-005-0030
    APU
    72414324020050030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,315,000
      6.5%
      $4,910,000
      7%
      $4,555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,234,000
      Market price range: $3.90M - $8.23M
      AI Estimate
      $6,555,000
      Market price range: $886k - $6.56M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,810,000
      Current use
      MEDICAL BUILDING
      $10,680,000
      Change: +84% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,160,000
      Change: +75% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $8,240,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $8,190,000
      Change: +41% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Royal Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.2053
    Latitude
    26.711
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $172,950
    $2,969,797
    $6,202,799
    $9,172,596
    -
    $2,969,797
    $6,202,799
    $9,172,596

    Comparable in this City

    • Value Estimation by Request
      195,248 SF

      Southern Blvd

      Lifestyle centers • 195,248 SF
      0 Southern Blvd, Royal Palm Beach, FL 33411
      View Details
    • Value Estimation
      $22,465,000
      67,541 SF

      11001 Southern Blvd

      MINI-MALL • 67,541 SF
      11001 Southern Blvd, Royal Palm Beach, FL 33411-4240
      View Details
    • Value Estimation
      $10,085,000
      22,827 SF

      200 Royal Palm Bch Blvd

      MINI-MALL • 22,827 SF
      200 Royal Palm Bch Blvd, Royal Palm Beach, FL 33411-7636
      View Details
    • Value Estimation
      $12,945,000
      54,273 SF

      6907 Okeechobee Blvd

      MINI-MALL • 54,273 SF
      6907 Okeechobee Blvd, West Palm Beach, FL 33411-2509
      View Details
    • Value Estimation by Request
      11,440 SF

      573 State Rd 7th 7

      MINI-MALL • 11,440 SF
      573 State Rd 7th 7, Royal Palm Beach, FL 33411-3524
      View Details
    • Value Estimation
      $19,120,000
      99,126 SF

      10109 Southern Blvd

      MINI-MALL • 99,126 SF
      10109 Southern Blvd, Royal Palm Beach, FL 33411-4336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      195,248 SF

      West Palm Beach Shopping Center

      High-Yield Retail Investment, 100% Leased
      0 Southern Blvd, Royal Palm Beach, FL 33411
      View Details
    • $249,000
      13,969 SF

      Established Playground Business For Sale

      Kids indoor playground business in busy shopping center for sale.
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    • $100,000
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      Luxury Barber Shop Opportunity

      Upscale barber shop in a high-traffic Royal Palm Beach location.
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    • $355,000
      1,552 SF

      Established Restaurant in Royal Palm Beach

      Profitable restaurant with loyal clientele in a busy shopping plaza.
      Xxx Southern Blvd, Royal Palm Beach, FL 33411
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    • $9,000,000
      14,588 SF

      West Palm Beach Retail Property

      Retail property available for sale in West Palm Beach, FL.
      8480 Okeechobee Blvd, West Palm Beach, FL 33411
      View Details
    • $6,700,000
      3,267 SF

      High-Yield Raising Cane's NNN Lease

      Florida QSR Investment, Strong ROI
      100 State Road 7, Royal Palm Beach, FL 33411
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    Similar Nearby for Lease

    • Contact for pricing
      232,727 SF

      Coral Sky Plaza Retail Space

      Prime Royal Palm Beach Shopping Center Space Available
      510 State Road 7, Royal Palm Beach, FL 33411
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    • Contact for pricing

      Retail Space in Royal Palm Beach

      Retail spaces available in high-traffic Royal Palm Beach power center.
      Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      2,906 SF

      Retail Space in Royal Palm

      Retail space available in a busy Palm Beach County center.
      512-516 N State Road 7, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      2,400 SF

      Publix-Anchored Shopping Center Space

      Retail space available in Royal Palm Beach, Florida.
      1104-1316 Royal Palm Beach Blvd, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      30,000 SF

      Retail Space in Royal Palm

      Retail space available in a high-visibility power center.
      500-558 N State Road 7, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on Okeechobee Blvd

      Retail space with high visibility and traffic near SuperTarget.
      10287 Okeechobee Blvd, West Palm Beach, FL 33411
      View Details
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    Royal Palm Beach, FL 33411-1403
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    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
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