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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Medical Office Space
1509 Prosperity Farms Rd Lake Park, FL 33403-2025
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-0982750
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1969
Construction
WOOD
Total area
3,977 SF
Lot
0.51 ac (22,307 SF)
Zoning code
C1B
APN
36-43-42-20-03-129-0090
UPID
US18-0982750
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
$525k
CAP Approach
CAP
$855k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$650k
Owner & transaction history
Evaland LLC · 2 yrs held
Evaland LLC
since 2023
Last sale
$650,000
7 recorded transactions
Zoning & alternative use
C1B · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zoning district is to provide animal grooming establishments, bakeries, the products of which are sold but are not produced on site, offices business and professional, retail shops
Zone name
Neighborhood Commercial District
General category
COMMERCIAL
Zone area
3.58 ac
Source
Realmo
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
$580,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $650k (Nov 13 2023)
Last sale anchor
$650k
Nov 13 2023
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
$163 / 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
$11,174
Tax year 2023
Assessed value
$442,286
Assessed 2023
Previous assessed
$439,806
+0.6% YoY
Effective rate
2.53%
On assessed value
Assessed land
$191,188
Assessed improvement
$251,098
Land market value
$191,188
Improvement market value
$251,098
Total market value
$442,286
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1969
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,977 SF
Lot
0.51 ac (22,307 SF)
Zoning code
C1B
APN
36-43-42-20-03-129-0090
UPID
US18-0982750
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C1B · Lake Park, FLZoning C1B · permitted uses
C1B · 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 this zoning district is to provide animal grooming establishments, bakeries, the products of which are sold but are not produced on site, offices business and professional, retail shops
Zone name
Neighborhood Commercial District
General category
COMMERCIAL
Zone area
3.58 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1969
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Evaland LLC
Entity
Free & Clear · 2 yrs held
Mailing address
724 SANDY PT LN, WEST PALM BEACH, FL 33410-3427
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2023
$650,000
Evaland LLC
Mizner Dev Preserve LLC
Warranty Deed
—
Sep 29, 2017
—
1509 Prosperity Farms LLC
—
Deed
related
$125,000 · Cjbs LLC
May 25, 2016
—
1509 Prosperity Farms LLC
—
Trustees Deed
related
$200,000 · Bank Of Lake Mills
Aug 12, 2014
$400,000
Laboratory Suites LLC
Rmrg Jesteadt LLC
Warranty Deed
$300,000 · Richard M Jesteadt
Jan 7, 2014
—
Rmrg Jesteadt LLC
Jesteadt,richard M
Quit Claim Deed
related
—
Jan 25, 2013
—
Rmrg Jesteadt LLC
Jesteadt,richard M
Quit Claim Deed
related
—
Oct 15, 2001
$290,000
Richard G Jesteadt
1509 Corp
Grant Deed
$217,500 · 1509 Corp
Oct 6, 1997
$265,000
1509 Corp
Sinclair,william F
Grant Deed
—
—
—
Laboratory Suites LLC
—
Loan Modification
related
$300,000 · Richard M Jesteadt
—
—
1509 Prosperity Farms LLC
—
Deed Of Trust
related
$125,000 · Cjbs LLC
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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