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Property profile & analytics
OFF-MARKET
Estimated value
$215,000
Showrooms
109 Reed Rd Lake Park, FL 33403-3014
Entity Owned
~
Est. High Equity
Property ID
US18-4383283
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1971
Construction
CONCRETE
Total area
3,432 SF
Lot
0.19 ac (8,411 SF)
Zoning code
CLIC
APN
36-43-42-20-07-002-0041
UPID
US18-4383283
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$800k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$215k
Owner & transaction history
Thomas Friel Ventures LLC
Thomas Friel Ventures LLC
since 2026
7 recorded transactions
Zoning & alternative use
CLIC · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is the purpose of the CLIC district to allow the development of a mixed use, campus light industrial or commercial employment center. The location of this district abutting the MU mixed use residential or commercial or light industrial district provides opportunities for employment in close proximity to higher population densities, thereby promoting walk…
Zone name
Campus Light Industrial And Commercial
General category
MIXED_USE
Zone area
150.65 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 Lake Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Park 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%
$870,000
6.5%
$800,000
7%
$745,000
Blend value · Realmo final
$215k
Range $194k – $237k · ±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
$63 / 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
$9,265
Tax year 2023
Assessed value
$420,823
Assessed 2023
Previous assessed
$376,409
+11.8% YoY
Effective rate
2.20%
On assessed value
Assessed land
$124,889
Assessed improvement
$295,934
Land market value
$124,889
Improvement market value
$295,934
Total market value
$420,823
Applied tax rate
36,507.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
2
Total area
3,432 SF
Lot
0.19 ac (8,411 SF)
Zoning code
CLIC
APN
36-43-42-20-07-002-0041
UPID
US18-4383283
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CLIC · Lake Park, FLZoning CLIC · permitted uses
CLIC · Lake Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is the purpose of the CLIC district to allow the development of a mixed use, campus light industrial or commercial employment center. The location of this district abutting the MU mixed use residential or commercial or light industrial district provides opportunities for employment in close proximity to higher population densities, thereby promoting walk to work activity and reduced traffic congestion.
Zone name
Campus Light Industrial And Commercial
General category
MIXED_USE
Zone area
150.65 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1971
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Thomas Friel Ventures LLC
Entity
Mailing address
109 REED RD, LAKE PARK, FL 33403-3014
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2026
$810,225
Thomas Friel Ventures LLC
Lawrence J Bondonese
Warranty Deed
—
Jan 16, 2019
$345,000
Lawrence J Bondonese
Double Roads LLC
Warranty Deed
$300,000 · Robert N Smith
Jul 12, 2005
—
Double Roads LLC
—
Trustees Deed
related
$100,000 · Union Planters National Bank
Oct 7, 2003
—
Double Roads LLC
Beach Equipment Leasing Co INC
Quit Claim Deed
related
$93,500 · Union Planters National Bank
Dec 1, 2000
$160,000
Beach Equipment Leasing Co INC
Flannery,stephen P & Maryann C
Grant Deed
$112,000 · Bank Of America
Sep 1, 1999
$149,000
Flannery,stephen P & Maryann C
Souders Trust
Trustees Deed
—
—
—
Stephen P Flannery
—
Deed Of Trust
related
$119,200 · Fidelity Fsb Florida
—
—
Double Roads LLC
—
Deed Of Trust
related
$100,000 · Regions Bank
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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