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Property profile & analytics
OFF-MARKET
Estimated value
$11,600,000
Office Spaces
1400 Chapman Way Palm City, FL 34990-2402
Individually Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2583713
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1988
Construction
FRAME
Total area
68,473 SF
Lot
6.81 ac (296,469 SF)
Zoning code
9/5/96
APN
07-38-41-015-000-00010-0
UPID
US18-2583713
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
-
VIP Boats and Yachts (Bike/Boat/Book/etc) Store
-
Red 2 Green Marine Service (Bike/Boat/Book/etc) Store
-
Meridian Marina Storage Facility
-
Carevale Solutions Construction Company General Contractor
-
Espinosa Inc Architect Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.22M
Comparable Approach
Comparable
$11.98M
Blend (final)
Blend
$11.60M
Owner & transaction history
Meridian Marina & Yacht Club Of P · 13 yrs held
Meridian Marina & Yacht Club Of P
since 2012
4 recorded transactions
Zoning & alternative use
9/5/96 · Palm City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$18.5M
+18.6%
Medical building
$16.3M
+4.7%
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 City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm City 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$15,405,000
6.5%
$14,220,000
7%
$13,205,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,580,000
Current use
RETAIL STORES
$18,475,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$16,310,000
Change: +5% · Conversion: Easy
INDUSTRIAL (GENERAL)
$12,955,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$11.60M
Range $10.44M – $12.76M · ±10%
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
$169 / 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
$106,132
Tax year 2023
Assessed value
$6,538,180
Assessed 2023
Previous assessed
$5,486,720
+19.2% YoY
Effective rate
1.62%
On assessed value
Assessed land
$4,539,130
Assessed improvement
$1,999,050
Land market value
$4,539,130
Improvement market value
$1,999,050
Total market value
$6,538,180
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1988
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
1
Bathrooms
3
Total area
68,473 SF
Lot
6.81 ac (296,469 SF)
Zoning code
9/5/96
APN
07-38-41-015-000-00010-0
UPID
US18-2583713
Jurisdiction
MARTIN
Zoning & alternative use
9/5/96 · Palm City, FLZoning 9/5/96 · permitted uses
9/5/96 · Palm City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$15.6M
RETAIL STORES
Est. value
$18.5M
MEDICAL BUILDING
Est. value
$16.3M
INDUSTRIAL (GENERAL)
Est. value
$13.0M
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (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
1988
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
3
Lot
6.81 ac
Current owner
From public records · entity-resolved
Meridian Marina & Yacht Club Of P
Individual
Free & Clear · 13 yrs held
Mailing address
1119 MARINA PT DR, STRAWN, TX 76475-2345
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Sep 28, 2012
$30,000
Meridian Marina & Yacht Club Of P
Nickerson Thomas E JR
Grant Deed
—
Apr 30, 2010
$94,000
Thomas Nickerson
Nickerson,thomas & Claire
Quit Claim Deed
related
—
—
—
Meridian Marina & Yacht Club & P
—
Loan Modification
related
$2,631,120 · Martin Cnty Marine Holdings Ll
—
—
Martin County Marine Corp
—
Deed Of Trust
related
$647,112 · Page Mrachek Fitzgerald & Ro
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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