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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Strip malls
1616 Broadway Riviera Beach, FL 33404-5628
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US18-4764335
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1946
Construction
WOOD
Total area
4,266 SF
Lot
0.43 ac (18,517 SF)
Zoning code
DC
APN
56-43-42-33-04-007-0130
UPID
US18-4764335
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
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$508k
Blend (final)
Blend
$845k
Owner & transaction history
Murray Marine Services INC · 22 yrs held
Murray Marine Services INC
since 2004
3 recorded transactions
Zoning & alternative use
DC · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Downtown Core
General category
COMMERCIAL
Zone area
117.03 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 Riviera Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riviera 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%
$1,150,000
6.5%
$1,060,000
7%
$985,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,255,000
Current use
WAREHOUSE, STORAGE
$1,065,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$198 / 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
$14,747
Tax year 2023
Assessed value
$665,810
Assessed 2023
Previous assessed
$640,102
+4.0% YoY
Effective rate
2.21%
On assessed value
Assessed land
$240,708
Assessed improvement
$425,102
Land market value
$240,708
Improvement market value
$425,102
Total market value
$665,810
Applied tax rate
56,407.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1946
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
4,266 SF
Lot
0.43 ac (18,517 SF)
Zoning code
DC
APN
56-43-42-33-04-007-0130
UPID
US18-4764335
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
DC · Riviera Beach, FLZoning DC · permitted uses
DC · Riviera Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Downtown Core
General category
COMMERCIAL
Zone area
117.03 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
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
1946
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Murray Marine Services INC
Entity
Mailing address
PO BOX 9613, WEST PALM BEACH, FL 33419-9613
Ownership since
2004
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
Jun 23, 2004
—
Murray Marine Services INC
Murray,richard
Quit Claim Deed
related
$412,500 · Riverside National Bank
Oct 20, 2000
$300,000
Richard Murray
Lefavor,franklin A
Grant Deed
$267,500 · Seller
—
—
Murray Marine Services INC
—
Deed Of Trust
related
$75,000 · Riverside National Bank
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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