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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Office buildings
1040 12th St Belle Glade, FL 33430-1704
Entity Owned
19-yr Hold
Free & Clear
Property ID
US18-3133689
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1971
Construction
CONCRETE
Total area
2,619 SF
Lot
3.34 ac (145,490 SF)
Zoning code
I-2
APN
04-37-43-31-01-006-0010
UPID
US18-3133689
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
-
Guaranteed Metal Recycling Recycling Center Waste Management Facility
-
Ultra medical equipment Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$920k
Owner & transaction history
Okeechobee Land Co · 19 yrs held
Okeechobee Land Co
since 2006
2 recorded transactions
Zoning & alternative use
I-2 · Belle Glade, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to retail building materials, restaurants and delicatessens and to filling stations and service stations with major mechanical repairs
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
246.64 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.3M
+24.5%
Commercial (general)
$1.2M
+18.6%
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 Belle Glade submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belle Glade 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%
$1,235,000
6.5%
$1,140,000
7%
$1,060,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,040,000
Current use
AUTO REPAIR, GARAGE
$1,295,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,230,000
Change: +19% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,035,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,030,000
Change: -1% · Conversion: Easy
WAREHOUSE, STORAGE
$895,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±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
$351 / 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
$16,732
Tax year 2023
Assessed value
$419,018
Assessed 2023
Previous assessed
$376,008
+11.4% YoY
Effective rate
3.99%
On assessed value
Assessed land
$66,228
Assessed improvement
$352,790
Land market value
$66,228
Improvement market value
$352,790
Total market value
$419,018
Applied tax rate
4,486.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Buildings
6
Stories
1
Rooms
1
Bathrooms
12
Total area
2,619 SF
Lot
3.34 ac (145,490 SF)
Zoning code
I-2
APN
04-37-43-31-01-006-0010
UPID
US18-3133689
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
I-2 · Belle Glade, FLZoning I-2 · permitted uses
I-2 · Belle Glade, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to retail building materials, restaurants and delicatessens and to filling stations and service stations with major mechanical repairs
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
246.64 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$895,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
6
Rooms
1
Bathrooms
12
Lot
3.34 ac
Current owner
From public records · entity-resolved
Okeechobee Land Co
Entity
Free & Clear · 19 yrs held
Mailing address
691 E MAIN ST, PAHOKEE, FL 33476-1403
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2006
—
Okeechobee Land Co
Owner,record
Warranty Deed
related
—
Feb 28, 2006
$240,000
Okeechobee Land Co
Delli Veneri Corp
Warranty Deed
$230,000 · Delli Veneri Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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