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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Office buildings
1617 Federal Hwya Lake Worth, FL 33460-6638
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4569549
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1972
Construction
CONCRETE
Total area
5,434 SF
Lot
0.44 ac (19,001 SF)
Zoning code
MU-FH
APN
38-43-44-15-16-016-0090
UPID
US18-4569549
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
by Request
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.22M
Owner & transaction history
Richard And Min Vondrak Foundation · 1 yrs held
Richard And Min Vondrak Foundation
since 2025
3 recorded transactions
Zoning & alternative use
MU-FH · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.0M
+12.8%
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 Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,755,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,975,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$1,560,000
Change: -11% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,510,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±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
$224 / 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
$17,072
Tax year 2023
Assessed value
$818,288
Assessed 2023
Previous assessed
$623,798
+31.2% YoY
Effective rate
2.09%
On assessed value
Assessed land
$345,420
Assessed improvement
$472,868
Land market value
$345,420
Improvement market value
$472,868
Total market value
$818,288
Applied tax rate
38,453.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1972
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,434 SF
Lot
0.44 ac (19,001 SF)
Zoning code
MU-FH
APN
38-43-44-15-16-016-0090
UPID
US18-4569549
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MU-FH · Lake Worth, FL
Zoning MU-FH · permitted uses
MU-FH · Lake Worth, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.5M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1972
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Richard And Min Vondrak Foundation
Individual
Free & Clear · 1 yrs held
Mailing address
2580 S OCEAN BLVD APT 1B6, PALM BEACH, FL 33480-5430
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 3, 2025
—
Richard And Min Vondrak Foundation
William Brasmar
Quitclaim Deed
related
—
Jul 22, 2024
—
David Vondrak
Min Vondrak
Intrafamily Transfer
related
—
—
—
W D Harrelson Enterprises INC
—
Deed Of Trust
related
$240,000 · Palm Beach County 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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