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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Showrooms
1368 Killian Dr Ste A Lake Park, FL 33403-1931
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-5079295
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1977
Construction
CONCRETE
Total area
8,220 SF
Lot
0.52 ac (22,499 SF)
Zoning code
C4
APN
36-43-42-20-09-000-0440
UPID
US18-5079295
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
$2.98M
CAP Approach
CAP
$1.92M
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$2.86M
Owner & transaction history
Armen Investments LLC · 5 yrs held
Armen Investments LLC
since 2020
Last sale
$2.0M
4 recorded transactions
Zoning & alternative use
C4 · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the regulations in this district is to encourage the development or redevelopment of uses which are compatible with the uses of the surrounding or abutting districts, and to provide for appropriate landscaping and parking for the uses in this district.
Zone name
Business District
General category
COMMERCIAL
Zone area
110.55 ac
Source
Realmo
Top alternative use upside
Industrial (general)
$3.4M
+7.4%
Retail stores
$3.4M
+6.8%
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 Lake Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Park 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
$2,855,000
ML approach
$2,975,000
CAP Approach
CAP Return
Estimation
6%
$2,080,000
6.5%
$1,920,000
7%
$1,785,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,195,000
Current use
INDUSTRIAL (GENERAL)
$3,430,000
Change: +7% · Conversion: Moderate
RETAIL STORES
$3,410,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±10% · vs last sale $2.00M (Sep 17 2020)
Last sale anchor
$2.00M
Sep 17 2020
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
$347 / 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
$20,370
Tax year 2023
Assessed value
$957,404
Assessed 2023
Previous assessed
$763,387
+25.4% YoY
Effective rate
2.13%
On assessed value
Assessed land
$319,050
Assessed improvement
$638,354
Land market value
$319,050
Improvement market value
$638,354
Total market value
$957,404
Applied tax rate
36,501.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Total area
8,220 SF
Lot
0.52 ac (22,499 SF)
Zoning code
C4
APN
36-43-42-20-09-000-0440
UPID
US18-5079295
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C4 · Lake Park, FLZoning C4 · permitted uses
C4 · Lake Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the regulations in this district is to encourage the development or redevelopment of uses which are compatible with the uses of the surrounding or abutting districts, and to provide for appropriate landscaping and parking for the uses in this district.
Zone name
Business District
General category
COMMERCIAL
Zone area
110.55 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
INDUSTRIAL (GENERAL)
Est. value
$3.4M
RETAIL STORES
Est. value
$3.4M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1977
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Armen Investments LLC
Entity
Free & Clear · 5 yrs held
Mailing address
144 NW 4TH AVE, BOCA RATON, FL 33432-3660
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2020
—
Armen Investments LLC
—
Deed
related
$2,050,000 · James H Batmasian
Sep 17, 2020
$2,000,000
Armen Investments LLC
Sgb Investments INC
Grant Deed
—
Dec 1, 1999
$928,571
Sgb Investments INC
Halpern,richard S & Marcia
Grant Deed
—
—
—
Armen Investments LLC
—
Deed Of Trust
related
$2,050,000 · James H Batmasian
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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