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Property profile & analytics
OFF-MARKET
Estimated value
$1,620,000
Manufacturing properties
1521 Neptune Dr Boynton Beach, FL 33426-8418
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4186397
Property summary
AI-generated overview
This exceptional 0.77-acre (33,750 square foot) industrial land parcel, located at 1521 Neptune Dr, Boynton Beach, FL 33426, is available for immediate lease. The property boasts a fully fenced and gated yard, providing secure outside storage. With convenient shared access and dimensions of approximately 125' x 270', this site is ideal for various industrial uses. The property is zoned M1, allowing for a range of industrial activities within the City of Boynton Beach. The monthly lease rate is $12,650 plus applicable sales tax. It's important to note that no utilities are currently available on-site. Prospective tenants should be prepared to arrange for their own utility connections. Given the high demand for industrial space in this submarket, interested parties are encouraged to schedule a viewing promptly. This property presents a unique opportunity for businesses seeking secure, readily available outdoor storage in a prime Boynton Beach location. The site is ready for immediate occupancy.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1978
Construction
CONCRETE
Total area
7,845 SF
Lot
1.26 ac (54,864 SF)
Zoning code
M1
APN
08-43-46-05-00-000-7040
UPID
US18-4186397
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
-
Friend Paper Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.62M
Owner & transaction history
Randy M Friend · 3 yrs held
Randy M Friend
since 2023
3 recorded transactions
Zoning & alternative use
M1 · Boynton Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+28.3%
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 Boynton Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boynton 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%
$1,410,000
6.5%
$1,305,000
7%
$1,210,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,060,000
Current use
OFFICE BUILDING
$2,640,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.46M – $1.78M · ±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
$207 / 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
$25,283
Tax year 2023
Assessed value
$1,369,402
Assessed 2023
Previous assessed
$1,209,845
+13.2% YoY
Effective rate
1.85%
On assessed value
Assessed land
$844,875
Assessed improvement
$524,527
Land market value
$844,875
Improvement market value
$524,527
Total market value
$1,369,402
Applied tax rate
8,984.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
7,845 SF
Lot
1.26 ac (54,864 SF)
Zoning code
M1
APN
08-43-46-05-00-000-7040
UPID
US18-4186397
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
M1 · Boynton Beach, FL
Zoning M1 · permitted uses
M1 · Boynton Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boynton Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Randy M Friend
Individual
Free & Clear · 3 yrs held
Mailing address
305 SHERWOOD FRST DR, DELRAY BEACH, FL 33445-3873
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2023
—
Randy M Friend
Randy M Friend
Intrafamily Transfer
related
—
Nov 13, 2013
—
William F Friend
Friend,william F
Quit Claim Deed
related
—
Nov 13, 2013
$245,000
Randy M Friend
Friend Richard W SR
Grant Deed
related
—
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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