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Property profile & analytics
OFF-MARKET
Estimated value
$8,385,000
Office buildings
1635 Meathe Dr West Palm Beach, FL 33411-2615
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-2795323
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1966
Construction
CONCRETE
Total area
23,815 SF
Lot
3.11 ac (135,554 SF)
Zoning code
CG
APN
00-42-43-27-19-000-0062
UPID
US18-2795323
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
$7.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.79M
Blend (final)
Blend
$8.39M
Owner & transaction history
Florida Public Utilities Company · 1 yrs held
Florida Public Utilities Company
since 2025
Last sale
$10.0M
5 recorded transactions
Zoning & alternative use
CG · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$12.9M
+71.8%
Auto repair, garage
$12.3M
+63.4%
Industrial (general)
$9.9M
+32.5%
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
$8,370,000
ML approach
$7,755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,500,000
Current use
MEDICAL BUILDING
$12,885,000
Change: +72% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,255,000
Change: +63% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,940,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$9,880,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$8.39M
Range $7.55M – $9.22M · ±10% · vs last sale $10.00M (Mar 20 2025)
Last sale anchor
$10.00M
Mar 20 2025
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
$352 / 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
$47,053
Tax year 2023
Assessed value
$3,913,411
Assessed 2023
Previous assessed
$3,621,694
+8.1% YoY
Effective rate
1.20%
On assessed value
Assessed land
$954,450
Assessed improvement
$2,958,961
Land market value
$954,450
Improvement market value
$2,958,961
Total market value
$3,913,411
Applied tax rate
192.0000
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
1966
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
23,815 SF
Lot
3.11 ac (135,554 SF)
Zoning code
CG
APN
00-42-43-27-19-000-0062
UPID
US18-2795323
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CG · West Palm Beach, FL
Zoning CG · permitted uses
CG · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$12.9M
AUTO REPAIR, GARAGE
Est. value
$12.3M
INDUSTRIAL (GENERAL)
Est. value
$9.9M
RETAIL STORES
Est. value
$9.9M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1966
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
3.11 ac
Current owner
From public records · entity-resolved
Florida Public Utilities Company
Entity
Free & Clear · 1 yrs held
Mailing address
95 N COUNTY RD, PALM BEACH, FL 33480-4029
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2025
$10,000,000
Florida Public Utilities Company
2104 Cahuenga Partners LP
Special Warranty Deed
—
May 14, 2015
$1,000,000
2104 Cahuenga Partners LP
Talmer Bk
Grant Deed
—
Aug 5, 2014
$1,074,127
Talmer Bk & Trust
Lakeside Road Property LLC
Grant Deed
—
Aug 6, 2007
$2,430,000
Lakeside Road Property LLC
Gci Api LLC
Warranty Deed
$2,187,000 · Citizens 1st Bank
—
—
Lakeside Road Property LLC
—
Deed Of Trust
related
$998,000 · Florida Business Dev Corp
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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