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Property profile & analytics
OFF-MARKET
Estimated value
$3,050,000
Strip malls
1649 Forum Pl West Palm Beach, FL 33401-2331
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-4270060
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1976
Construction
CONCRETE
Total area
11,775 SF
Lot
1.89 ac (82,328 SF)
Zoning code
NC
APN
74-43-43-17-05-003-0022
UPID
US18-4270060
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
-
Wendy L Shoaf Counselor Medical Clinic
-
Kwikey Locksmith Services Inc Locksmith
-
Aesthetics By Nessa Hair Salon Nail Salon
-
B FIT BODY SCULPTING Weight Loss Service
-
Giselle Beauty Artist LLC Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.05M
CAP Approach
CAP
$2.93M
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$3.05M
Owner & transaction history
Forum Shoppes LLC · 1 yrs held
Forum Shoppes LLC
since 2025
Last sale
$3.1M
3 recorded transactions
Zoning & alternative use
NC · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.0M
+42.8%
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 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
$3,050,000
ML approach
$3,050,000
CAP Approach
CAP Return
Estimation
6%
$3,170,000
6.5%
$2,925,000
7%
$2,720,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,465,000
Current use
OFFICE BUILDING
$4,950,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$3.05M
Range $2.75M – $3.36M · ±10% · vs last sale $3.05M (Jun 27 2024)
Last sale anchor
$3.05M
Jun 27 2024
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
$259 / 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
$77,029
Tax year 2023
Assessed value
$3,048,181
Assessed 2023
Previous assessed
$2,932,588
+3.9% YoY
Effective rate
2.53%
On assessed value
Assessed land
$1,369,271
Assessed improvement
$1,678,910
Land market value
$1,369,271
Improvement market value
$1,678,910
Total market value
$3,048,181
Applied tax rate
74,407.0000
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
1976
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
11,775 SF
Lot
1.89 ac (82,328 SF)
Zoning code
NC
APN
74-43-43-17-05-003-0022
UPID
US18-4270060
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
NC · West Palm Beach, FL
Zoning NC · permitted uses
NC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.5M
OFFICE BUILDING
Est. value
$5.0M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
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
1976
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
1.89 ac
Current owner
From public records · entity-resolved
Forum Shoppes LLC
Entity
Mailing address
1649 FORUM PL, WEST PALM BEACH, FL 33401-2331
Mailing matches property
Yes
Owner-occupied
Yes
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
Feb 24, 2025
—
Forum Shoppes LLC
Forum Shoppes INC
Deed
related
—
Jun 27, 2024
$3,050,000
Forum Shoppes LLC
Froum Shoppes INC
Special Warranty Deed
—
—
—
Forum Shoppes INC
—
Deed Of Trust
related
$650,000 · Branch Banking & Trust Co
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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