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Property profile & analytics
OFF-MARKET
Estimated value
$33,985,000
Warehouses
1401 Mercer Ave West Palm Beach, FL 33401-6837
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8766174
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2000
Construction
STEEL FRAME
Total area
180,774 SF
Lot
3.02 ac (131,364 SF)
Zoning code
CPD
APN
74-43-43-28-14-000-0113
UPID
US18-8766174
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
-
Life Storage - West Palm Beach Storage Facility
-
life storage, West Storage Facility
-
One Direct Solutions Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.55M
Comparable Approach
Comparable
$25.44M
Blend (final)
Blend
$33.99M
Owner & transaction history
Sovran Acquisition LP · 12 yrs held
Sovran Acquisition LP
since 2014
3 recorded transactions
Zoning & alternative use
CPD · West Palm Beach, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,925,000
6.5%
$28,550,000
7%
$26,510,000
Blend value · Realmo final
$33.99M
Range $30.59M – $37.38M · ±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
$188 / 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
$506,987
Tax year 2023
Assessed value
$26,039,401
Assessed 2023
Previous assessed
$26,039,401
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$1,607,920
Assessed improvement
$24,431,481
Land market value
$1,607,920
Improvement market value
$24,431,481
Total market value
$26,039,401
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Stories
5
Total area
180,774 SF
Lot
3.02 ac (131,364 SF)
Zoning code
CPD
APN
74-43-43-28-14-000-0113
UPID
US18-8766174
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FL
Zoning CPD · permitted uses
CPD · 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.
Building & site characteristics
From public records
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
5
Lot
3.02 ac
Current owner
From public records · entity-resolved
Sovran Acquisition LP
Entity
Free & Clear · 12 yrs held
Mailing address
6467 MAIN ST, WILLIAMSVILLE, NY 14221-5856
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Jan 28, 2014
$20,379,000
Sovran Acquisition LP
Store Room-australian Avenue L
Grant Deed
—
May 2, 2005
$2,750,000
Clear Lake View LLC
Djdw LLC
Warranty Deed
$1,350,000 · Fidelity Federal Bank & Trust
—
—
Clear Lake View LLC
—
Deed Of Trust
related
$50,000 · First Bank Palm Beach
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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