16361 Norris Rd Wellington, FL 33470-5031
Entity Owned
6-yr Hold
Free & Clear
Estimated value (blended)
$5.00M
Range $4.50M – $5.50M (±10%)
Implied cap rate
3.60%
In-place · NOI ÷ last sale
Property ID
US18-4332254
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1989
Construction
STEEL FRAME
Total area
10,401 SF
Lot
10.01 ac (436,066 SF)
Zoning code
RROZD
APN
73-40-44-13-00-000-5090
UPID
US18-4332254
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.76M
Comparable Approach
Comparable
$3.26M
Blend (final)
Blend
$5.00M
Owner & transaction history
since 2020
Last sale
$3.5M
5 recorded transactions
Zoning & alternative use
RROZD · Wellington, FL
Zoning description
The RROZD is established to that implement the community vision and values established in the Wellington Charter and the Equestrian Element of Wellington's Comprehensive Plan to preserve the equestrian character and life…
General category
RESIDENTIAL
Top alternative use upside
Auto repair, garage
$5.1M
+5.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 9 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.00M
Value range
$4.50M – $5.50M
±10% around blend
Estimated value / SF
$481 / SF
Confidence
High
9 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
90
$4.50M
blend $5.00M
$5.50M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,401 SF
Lot area
10.01 ac
Year built
1989
Stories
1
APN
73-40-44-13-00-000-5090
Assessed value
$2,230,070
Annual tax
$43,470
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.76M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.99M
@ 6.5% CAP return
$2.76M
@ 7% CAP return
$2.57M
4
Sales comparison
Partial preview
Sales approach indication
$5.36M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
13.4 mi away · 10,080 SF
14.6 mi away · 12,672 SF
14.6 mi away · 7,492 SF
15.3 mi away · 9,000 SF
16.3 mi away · 11,738 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.00M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 866 sales
$470
+2%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $481/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+5%
vs current-use indication
Commercial (general) · current use
Retail Stores
Office Building
Neighborhood: Shopping Center
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
3.60%
Implied, in-place cap rate for this showrooms
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.60%
9.0%
NOI (est.)
$245k *
Last sale · Apr 2020
$3.50M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$6.81M
Move the market yield to see immediate price impact.
Value / SF
$654
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.10%3.60%4.10%
$221k
$7.11M
$6.12M
$5.38M
$245k
$7.90M
$6.81M
$5.98M
$270k
$8.69M
$7.49M
$6.57M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$4.28M
5.2 mi · Sep 2025 · $521/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,470
Tax year 2023
Assessed value
$2,230,070
Assessed 2023
Previous assessed
$2,054,313
+8.6% YoY
Effective rate
1.95%
On assessed value
Land market value
$1,341,434
Improvement market value
$1,929,749
Total market value
$3,271,183
Applied tax rate
73,486.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Rooms
1
Total area
10,401 SF
Lot
10.01 ac (436,066 SF)
Zoning code
RROZD
APN
73-40-44-13-00-000-5090
UPID
US18-4332254
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RROZD · Wellington, FLZoning RROZD · permitted uses
RROZD · Wellington, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The RROZD is established to that implement the community vision and values established in the Wellington Charter and the Equestrian Element of Wellington's Comprehensive Plan to preserve the equestrian character and life…
General category
RESIDENTIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Rooms
1
Lot
10.01 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
RROZD
RESIDENTIAL
Jurisdiction
Wellington, FL
Recorded code
RROZD
Official district
RROZD
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RROZD in Wellington, FL.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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