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Property profile & analytics
OFF-MARKET
Estimated value
$21,000,000
Grocery and convenience stores
11935 Southern Blvd Royal Palm Beach, FL 33411-7619
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5000501
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1997
Construction
CONCRETE
Total area
52,341 SF
Lot
10.99 ac (478,724 SF)
Zoning code
CG
APN
72-41-43-34-10-000-0000
UPID
US18-5000501
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$21.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.54M
Blend (final)
Blend
$21.00M
Owner & transaction history
Real Sub LLC · 1 yrs held
Real Sub LLC
since 2024
Last sale
$21.0M
7 recorded transactions
Zoning & alternative use
CG · Royal Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$31.2M
+43.5%
Medical building
$28.3M
+30.4%
Auto repair, garage
$26.9M
+24.0%
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 Royal Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal 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
$21,000,000
ML approach
$21,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$21,720,000
Current use
APARTMENT HOUSE (5+ UNITS)
$31,170,000
Change: +44% · Conversion: Difficult
MEDICAL BUILDING
$28,325,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,940,000
Change: +24% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$21,850,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,410,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$21.00M
Range $18.90M – $23.10M · ±10% · vs last sale $21.00M (Sep 4 2024)
Last sale anchor
$21.00M
Sep 4 2024
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
$401 / 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
$363,984
Tax year 2023
Assessed value
$15,769,312
Assessed 2023
Previous assessed
$15,490,690
+1.8% YoY
Effective rate
2.31%
On assessed value
Assessed land
$5,131,943
Assessed improvement
$10,637,369
Land market value
$5,131,943
Improvement market value
$10,637,369
Total market value
$15,769,312
Applied tax rate
72,486.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
52,341 SF
Lot
10.99 ac (478,724 SF)
Zoning code
CG
APN
72-41-43-34-10-000-0000
UPID
US18-5000501
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CG · Royal Palm Beach, FL
Zoning CG · permitted uses
CG · Royal Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$21.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.2M
MEDICAL BUILDING
Est. value
$28.3M
AUTO REPAIR, GARAGE
Est. value
$26.9M
INDUSTRIAL (GENERAL)
Est. value
$21.9M
COMMERCIAL (GENERAL)
Est. value
$18.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1997
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
10.99 ac
Current owner
From public records · entity-resolved
Real Sub LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1541 SUNSET DR STE #300, MIAMI, FL 33143-5777
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2024
$21,000,000
Real Sub LLC
Crestwood Square Ltd
Special Warranty Deed
—
Jan 2, 2018
—
Crestwood Square Ltd
—
Loan Modification
related
$5,000,000 · Miscellaneous Ins Co
Nov 25, 2009
—
Crestwood Square Ltd
—
Trustees Deed
related
$4,850,000 · J P Morgan Chase Bank
Sep 30, 2009
—
Crestwood Square Ltd
—
Trustees Deed
related
$4,850,000 · J P Morgan Chase Bank
—
—
Crestwood Square Ltd
—
Deed Of Trust
related
$4,850,000 · Northwestern Mutual Life Ins
—
—
Crestwood Square Ltd
—
Deed Of Trust
related
$4,850,000 · J P Morgan Chase Bank
—
—
Crestwood Square Ltd
—
Loan Modification
related
$4,693,523 · Miscellaneous Ins Co
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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