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Property profile & analytics
OFF-MARKET
Hotels
123 Ocean Ave 101 Palm Beach Shores, FL 33404-5736
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-5430047
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1966
Construction
STEEL FRAME
Total area
35,178 SF
Lot
0.65 ac (28,349 SF)
Zoning code
D
APN
54-43-42-27-04-000-6160
UPID
US18-5430047
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kannega Glades LLC · 5 yrs held
Kannega Glades LLC
since 2021
Last sale
$13.0M
7 recorded transactions
Zoning & alternative use
D · Palm Beach Shores, 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 Palm Beach Shores submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Beach Shores 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$94,428
Tax year 2023
Assessed value
$4,400,000
Assessed 2023
Previous assessed
$4,000,000
+10.0% YoY
Effective rate
2.15%
On assessed value
Assessed improvement
$4,400,000
Improvement market value
$4,400,000
Total market value
$4,400,000
Applied tax rate
54,401.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
50
Rooms
51
Bathrooms
186
Total area
35,178 SF
Lot
0.65 ac (28,349 SF)
Zoning code
D
APN
54-43-42-27-04-000-6160
UPID
US18-5430047
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
D · Palm Beach Shores, FL
Zoning D · permitted uses
D · Palm Beach Shores, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach Shores. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
50
Rooms
51
Bathrooms
186
Lot
0.65 ac
Current owner
From public records · entity-resolved
Kannega Glades LLC
Entity
Mailing address
3930 CORAL RDG DR, POMPANO BEACH, FL 33065-7613
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
32 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2021
$8,100,000
Kannega Glades LLC
Seven Seas Resorts LLC
Quit Claim Deed
related
$7,500,000 · Ef Sbc 2015 2 LLC
Dec 2, 2020
$4,800,000
Seven Seas Resort LLC
Deborah C Menotte
Grant Deed
—
Aug 23, 2013
$4,000,000
Seaspray Resort Ltd
Mazal Tov 123 LLC
Warranty Deed
$4,800,000 · Ucf I Trust 1 (ct)
Apr 2, 2012
$2,450,000
Mazal Tov 123 LLC
Seaspray Oceanfront Resorts In
Grant Deed
—
Mar 12, 2004
$8,200
Palm Beach Resort Dev Group
Lemaster,angela J
Grant Deed
related
—
Feb 27, 2004
$11,900
Palm Beach Resort Dev Group
Shipman,john T
Grant Deed
related
—
Jan 23, 2004
$10,000
Gloria R Bitza
Palm Beach Resort Dev Group
Grant Deed
related
—
Oct 9, 2003
$14,000
Michaelle A Miller
Palm Beach Resort Dev Group
Grant Deed
related
$13,086 · Palm Beach Resort Dev Group
Sep 24, 2003
$3,500
Eimothy J Riley
Curry,floyd & Sonia
Grant Deed
—
Jul 17, 2003
—
Palm Beach Resort Dev Group
Stout,michael L
Quit Claim Deed
related
—
Dec 5, 2002
$13,100
Palm Beach Resort Dev Group
Fralick,teresa A
Grant Deed
related
—
Jul 19, 2001
$13,900
Debra J Anderson
Palm Beach Resort Dev Group
Grant Deed
related
$13,005 · Palm Beach Resort Dev Group
May 23, 2001
$13,900
Cynthia L Little
Palm Beach Resort Dev Group
Grant Deed
related
$13,005 · Palm Beach Resort Dev Group
Aug 4, 1999
$11,900
Quentin G Caseley
Rew/bmg/pb LP
Grant Deed
related
$10,710 · Seller
Mar 19, 1999
$11,800
Rew/bmg/pb LP
Tooke,leonard E & Barbara B
Grant Deed
related
—
Feb 24, 1999
$8,000
John A Doruff
Rew/bmg/pb LP
Grant Deed
related
$7,200 · Seller
Dec 8, 1998
$11,800
Mark W Yates
Rew/bmg/pb LP
Grant Deed
related
$10,615 · Seller
Oct 15, 1998
$11,800
Raymond G Harries
Rew/bmg/pb LP
Grant Deed
related
$5,897 · Rew/bmg/pb LP
Sep 3, 1998
$11,800
John Dickinson
Rew/bmg/pb LP
Grant Deed
related
$5,897 · Seller
Aug 25, 1998
$11,800
Barbara Grimpel Trust
Rew Bmg Pb Limited Partnership
Trustees Deed
related
$5,898 · Seller
Jul 23, 1998
$11,800
Vincenzo Gariti
Rew/bmg/pb LP
Grant Deed
related
$10,616 · Seller
Jul 21, 1998
$11,800
Angela J Lemaster
Rew/bmg/pg LP
Grant Deed
related
$10,615 · Seller
Jul 8, 1998
$11,800
Monika M Oneal-osborne
Rew/bmg/pb LP
Grant Deed
related
$10,615 · Seller
Jun 23, 1998
$10,211
Vergara,alex N
Rew/bmg/pb Limited Partnership
Trustees Deed
related
$9,167 · Seller
Jun 22, 1998
$11,800
Tooke,leonard E & Barbara B
Rew Bmg Pb LP
Trustees Deed
related
$10,615 · Seller
Jun 22, 1998
$7,700
Myers,gary A
Rew Bmg Pb LP
Trustees Deed
related
$6,925 · Seller
Jun 4, 1998
$11,800
Jason S Tait
Rew Bmg Pb LP
Grant Deed
related
$5,897 · Seller
Jun 4, 1998
$7,700
Boyd,john & Gail
Rew Bmg Pb LP
Trustees Deed
related
$3,847 · Seller
Jun 4, 1998
$10,000
Pesavento,joseph A & Sandra H
Rew Bmg Pb LP
Trustees Deed
related
$4,997 · Seller
Jan 12, 1998
$10,000
Lipsett,susan
Rew/bmg/pb LP
Trustees Deed
—
Jan 12, 1998
$9,000
Weiner,mark E & Chris
Rew/bmg/pb LP
Trustees Deed
$4,500 · Seller
—
—
Seaspray Oceanfront Resorts
—
Deed Of Trust
related
$15,435 · Palm Beach National Bk & Tr 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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