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Property profile & analytics
FOR LEASE
Retail space
115 S Olive Ave West Palm Beach, FL 33401
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3120783
For Lease
1 / 3
$3,920,000
115 S Olive Ave, West Palm Beach, FL 33401
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Construction
WOOD
Total area
6,841 SF
Lot
0.09 ac (3,899 SF)
Zoning code
CWD-10
APN
74-43-43-21-01-012-0193
UPID
US18-3120783
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
$3.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.77M
Blend (final)
Blend
$3.92M
Owner & transaction history
115 South Olive Enterprises LLC · 2 yrs held
115 South Olive Enterprises LLC
since 2023
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
CWD-10 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+33.5%
Apartment house (5+ units)
$4.1M
+3.9%
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
$4,080,000
ML approach
$3,990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,920,000
Current use
RESTAURANT
$5,230,000
Change: +33% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,075,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$3,700,000
Change: -6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,610,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,520,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.92M
Range $3.53M – $4.31M · ±10% · vs last sale $3.80M (Aug 14 2023)
Last sale anchor
$3.80M
Aug 14 2023
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
$573 / 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
$21,378
Tax year 2023
Assessed value
$1,149,190
Assessed 2023
Previous assessed
$944,870
+21.6% YoY
Effective rate
1.86%
On assessed value
Assessed land
$643,500
Assessed improvement
$505,690
Land market value
$643,500
Improvement market value
$505,690
Total market value
$1,149,190
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1954
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
6,841 SF
Lot
0.09 ac (3,899 SF)
Zoning code
CWD-10
APN
74-43-43-21-01-012-0193
UPID
US18-3120783
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CWD-10 · West Palm Beach, FL
Zoning CWD-10 · permitted uses
CWD-10 · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.9M
RESTAURANT
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.5M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1954
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
115 South Olive Enterprises LLC
Entity
Mailing address
110 SE 2ND ST STE #101, DELRAY BEACH, FL 33444-3680
Ownership since
2023
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
Aug 14, 2023
$3,800,000
115 South Olive Enterprises LLC
115 South Olive Enterprises LLC
Special Warranty Deed
$1,000,000 · Standard Insurance Co
Mar 3, 2023
—
115 South Olive Enterprises LLC
—
Deed
related
$1,500,000 · Cchc Fund II LP
May 18, 2020
—
Clematis LLC
—
Deed
related
$787,671 · Theofaniy Batistas
Aug 12, 2005
$1,250,000
115 South Olive Ents LLC
Forte Equity INC
Warranty Deed
—
Jun 30, 1998
$415,000
Forte Equity INC
Mayo,rodney B
Grant Deed
related
$440,000 · Zions First National Bank
—
—
Clematis LLC
—
Loan Modification
related
$787,671 · Theofaniy Batistas
—
—
Clematis LLC
—
Deed Of Trust
related
$946,390 · Theofaniy Batistas
—
—
Forte Equity INC
—
Deed Of Trust
related
$400,000 · Fidelity Federal Bank & Trust
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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