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Property profile & analytics
OFF-MARKET
Estimated value
$13,090,000
Warehouses
1125 Wallace Dr Delray Beach, FL 33444-1209
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0060602
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2019
Construction
CONCRETE
Total area
49,800 SF
Lot
2.21 ac (96,381 SF)
Zoning code
LI
APN
12-43-46-20-84-001-0000
UPID
US19-0060602
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
-
CubeSmart Self Storage Storage Facility
-
Gigi Party Rental Party Supply Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.12M
CAP Approach
CAP
$9.58M
Comparable Approach
Comparable
$9.92M
Blend (final)
Blend
$13.09M
Owner & transaction history
Cubesmart LP · 4 yrs held
Cubesmart LP
since 2021
Last sale
$14.8M
5 recorded transactions
Zoning & alternative use
LI · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Delray Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delray 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
$17,435,000
ML approach
$12,120,000
CAP Approach
CAP Return
Estimation
6%
$10,375,000
6.5%
$9,575,000
7%
$8,890,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$17,030,000
Current use
Blend value · Realmo final
$13.09M
Range $11.78M – $14.40M · ±10% · vs last sale $14.75M (Nov 12 2021)
Last sale anchor
$14.75M
Nov 12 2021
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
$263 / 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
$239,749
Tax year 2023
Assessed value
$12,297,691
Assessed 2023
Previous assessed
$12,297,691
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$2,175,316
Assessed improvement
$10,122,375
Land market value
$2,175,316
Improvement market value
$10,122,375
Total market value
$12,297,691
Applied tax rate
12,987.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Bathrooms
1
Total area
49,800 SF
Lot
2.21 ac (96,381 SF)
Zoning code
LI
APN
12-43-46-20-84-001-0000
UPID
US19-0060602
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
LI · Delray Beach, FL
Zoning LI · permitted uses
LI · Delray Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delray Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$17.0M
WAREHOUSE, STORAGE Current
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
2019
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
1
Lot
2.21 ac
Current owner
From public records · entity-resolved
Cubesmart LP
Entity
Free & Clear · 4 yrs held
Mailing address
5 OLD LANCASTER RD, MALVERN, PA 19355-2132
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Nov 12, 2021
$14,750,000
Cubesmart LP
Mic Venture LLC
Warranty Deed
—
Feb 20, 2008
—
M & C Venture LLC
Manuel Moreno
Correction Deed
related
—
Jan 16, 2008
$180,000
Mci Venture LLC
Manuel Moreno
Warranty Deed
—
—
—
Mic Venture LLC
—
Loan Modification
related
$390,000 · Iberiabank
—
—
Mic Venture LLC
—
Loan Modification
related
$850,000 · Sterling Bk
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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