Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,490,000
Medical Office Space
120 Butler St West Palm Beach, FL 33407-6107
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-5524915
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
CONCRETE
Total area
5,400 SF
Lot
0.45 ac (19,541 SF)
Zoning code
CMUD-CI
APN
74-43-43-15-15-000-0090
UPID
US18-5524915
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
-
Smith Regulatory Strategies LLC. Financial Advisor
-
Dr. Brent M. Schillinger, MD Physician
-
Dr. Harvey J. Penziner, MD Physician Medical Clinic
-
Dr. John Goodman Physician Medical Clinic
-
CHRISTOPHER J. PRANCKUN PA-C Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.49M
Owner & transaction history
120 Butler Street Associates LLC · 4 yrs held
120 Butler Street Associates LLC
since 2021
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
CMUD-CI · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+41.3%
Apartment house (5+ units)
$3.2M
+10.1%
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
$3,430,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,920,000
Current use
RESTAURANT
$4,130,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,215,000
Change: +10% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,780,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.49M
Range $2.24M – $2.74M · ±10% · vs last sale $2.60M (Aug 30 2021)
Last sale anchor
$2.60M
Aug 30 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
$461 / 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
$28,877
Tax year 2023
Assessed value
$1,316,926
Assessed 2023
Previous assessed
$1,195,678
+10.1% YoY
Effective rate
2.19%
On assessed value
Assessed land
$781,560
Assessed improvement
$535,366
Land market value
$781,560
Improvement market value
$535,366
Total market value
$1,316,926
Applied tax rate
74,407.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,400 SF
Lot
0.45 ac (19,541 SF)
Zoning code
CMUD-CI
APN
74-43-43-15-15-000-0090
UPID
US18-5524915
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CMUD-CI · West Palm Beach, FL
Zoning CMUD-CI · permitted uses
CMUD-CI · 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
MEDICAL BUILDING Current
Est. value
$2.9M
RESTAURANT
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
120 Butler Street Associates LLC
Entity
Free & Clear · 4 yrs held
Mailing address
430 PARK AVE FL #12, NEW YORK, NY 10022-3505
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2023
—
1919 N Flagler Drive Associates LLC
—
Deed
related
$50,100,000 · 1919 N Flagler Dr 1 LLC
Aug 30, 2021
$2,600,000
120 Butler Street Associates LLC
Timothy H Kenney
Warranty Deed
—
Mar 3, 1999
$459,000
Timothy H Kenney Trustee
Butler Street Joint Venture
Grant Deed
$400,000 · First Union National 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 120 Butler St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
