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Property profile & analytics
OFF-MARKET
Estimated value
$20,590,000
Hotels
1601 Belvedere Rd 2 West Palm Beach, FL 33406-1541
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-3587626
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1983
Construction
STEEL FRAME
Total area
189,103 SF
Lot
1 ac (43,560 SF)
Zoning code
CPD
APN
74-43-43-29-21-000-0020
UPID
US18-3587626
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
-
DVK PR & MARKETING Advertising Agency Marketing & Advertising
-
House of Mercy Christian Center Church
-
Rita Law Firm, P.A. Law Firm
-
James D Sweet Jr Pa Law Firm
-
Mc Nalis Daniel M Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.89M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.59M
Owner & transaction history
Servico Centre Associates INC · 16 yrs held
Servico Centre Associates INC
since 2010
2 recorded transactions
Zoning & alternative use
CPD · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
111. - Parking and loading requirements. Sec. 94-112. - Alleys and public rights-of-way. Sec. 94-113. - Landscape and streetscape requirements. Sec. 94-114. - Urban core planning area. Sec. 94-115. - CityPlace district (CPD). Sec. 94-116. - ClearLake district (CLD). Sec. 94-117. - Cultural arts district (CAD). Sec. 94-118. - Quadrille garden district (QGD).…
Zone name
Commercial Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
1,034.97 ac
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%
$23,715,000
6.5%
$21,890,000
7%
$20,325,000
Blend value · Realmo final
$20.59M
Range $18.53M – $22.65M · ±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
$109 / 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
$505,826
Tax year 2023
Assessed value
$22,549,056
Assessed 2023
Previous assessed
$20,000,000
+12.7% YoY
Effective rate
2.24%
On assessed value
Assessed land
$5,393,200
Assessed improvement
$17,155,856
Land market value
$5,393,200
Improvement market value
$17,155,856
Total market value
$22,549,056
Applied tax rate
74,402.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1983
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
15
Units
220
Total area
189,103 SF
Lot
1 ac (43,560 SF)
Zoning code
CPD
APN
74-43-43-29-21-000-0020
UPID
US18-3587626
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FLZoning 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
Zoning description
111. - Parking and loading requirements. Sec. 94-112. - Alleys and public rights-of-way. Sec. 94-113. - Landscape and streetscape requirements. Sec. 94-114. - Urban core planning area. Sec. 94-115. - CityPlace district (CPD). Sec. 94-116. - ClearLake district (CLD). Sec. 94-117. - Cultural arts district (CAD). Sec. 94-118. - Quadrille garden district (QGD). Sec. 94-119. - Quadrille business district (QBD). Sec. 94-120. - Transit oriented d
Zone name
Commercial Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
1,034.97 ac
Building & site characteristics
From public records
Year built
1983
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
15
Buildings
2
Units
220
Lot
1 ac
Current owner
From public records · entity-resolved
Servico Centre Associates INC
Entity
Free & Clear · 16 yrs held
Mailing address
3 BETHESDA METRO CTR STE #1000, BETHESDA, MD 20814-6347
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2010
$8,805,574
Servico Centre Associates INC
Servico Centre Associates Ltd
Warranty Deed
—
Jul 6, 2004
—
Servico Centre Associates Ltd
—
Deed Of Trust
related
$66,818,500 · Merrill Lynch Mortgage Lending
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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