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Property profile & analytics
OFF-MARKET
Estimated value
$7,205,000
Strip malls
1600 Federal Hwy Boynton Beach, FL 33435-2811
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5044474
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1982
Construction
CONCRETE
Total area
15,250 SF
Lot
1.5 ac (65,445 SF)
Zoning code
C3
APN
08-43-45-22-20-000-0190
UPID
US18-5044474
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
-
Wells Fargo Bank Bank Loan Service
-
Kerlly Cajas - 1133775 - Wells Fargo Home Mortgage Loan Service Bank
-
TORNADO SMOKE SHOP (Bike/Boat/Book/etc) Store
-
Convenient Store Grocery & Convenience Store
-
the seed. Coffee + Juice Bar Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.70M
CAP Approach
CAP
$4.52M
Comparable Approach
Comparable
$5.93M
Blend (final)
Blend
$7.21M
Owner & transaction history
Ocean Palm Plaza LLC · 4 yrs held
Ocean Palm Plaza LLC
since 2022
Last sale
$7.2M
5 recorded transactions
Zoning & alternative use
C3 · Boynton Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
the words "commercial district" or "commercial zoning district" are used, they are construed to include any or all of the following zoning districts: C-1 office and professional commercial; C-2 neighborhood commercial; C-3 community commercial; C-4 general commercial; CBD central business district; and PCD planned commercial development. CODE 1958 - Any refe…
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
414.93 ac
Top alternative use upside
Restaurant
$10.5M
+74.7%
Apartment house (5+ units)
$10.5M
+73.5%
Auto repair, garage
$7.5M
+25.0%
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
$7,960,000
ML approach
$7,695,000
CAP Approach
CAP Return
Estimation
6%
$4,895,000
6.5%
$4,515,000
7%
$4,195,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,025,000
Current use
RESTAURANT
$10,525,000
Change: +75% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,455,000
Change: +74% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,530,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,185,000
Change: +3% · Conversion: Easy
RETAIL STORES
$6,175,000
Change: +3% · Conversion: Easy
MEDICAL BUILDING
$6,010,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$7.21M
Range $6.48M – $7.93M · ±10% · vs last sale $7.22M (Jan 3 2022)
Last sale anchor
$7.22M
Jan 3 2022
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
$472 / 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
$74,744
Tax year 2023
Assessed value
$2,997,807
Assessed 2023
Previous assessed
$2,893,451
+3.6% YoY
Effective rate
2.49%
On assessed value
Assessed land
$1,083,082
Assessed improvement
$1,914,725
Land market value
$1,083,082
Improvement market value
$1,914,725
Total market value
$2,997,807
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
15,250 SF
Lot
1.5 ac (65,445 SF)
Zoning code
C3
APN
08-43-45-22-20-000-0190
UPID
US18-5044474
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C3 · Boynton Beach, FLZoning C3 · permitted uses
C3 · Boynton Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
the words "commercial district" or "commercial zoning district" are used, they are construed to include any or all of the following zoning districts: C-1 office and professional commercial; C-2 neighborhood commercial; C-3 community commercial; C-4 general commercial; CBD central business district; and PCD planned commercial development. CODE 1958 - Any reference herein to "Code 1958" shall be construed to mean the "Code of Ordinances, Ci
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
414.93 ac
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.0M
RESTAURANT
Est. value
$10.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.5M
AUTO REPAIR, GARAGE
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$6.2M
RETAIL STORES
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL 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
1982
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Ocean Palm Plaza LLC
Entity
Mailing address
16950 S JOG RD STE #104, DELRAY BEACH, FL 33446-2353
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2022
$7,220,000
Ocean Palm Plaza LLC
Yacutsmans Properties LLC
Warranty Deed
$9,386,000 · Terrabank NA
Jan 6, 2015
$3,412,500
Yachtsmans Properties LLC
Banyan Development LLC
Warranty Deed
$3,050,000 · Readycap Commercial LLC
Aug 4, 2005
$4,700,000
Yachtsman Properties LLC
James Batmasian
Special Warranty Deed
$3,300,000 · Colonial Bank NA
—
—
Banyan Dev LLC
—
Loan Modification
related
$2,800,000 · First Southern Bank
—
—
Yachtsmans Properties LLC
—
Loan Modification
related
$4,000,000 · Banesco USA
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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