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Property profile & analytics
OFF-MARKET
Estimated value
$1,910,000
Office buildings
166 Professional Way Wellington, FL 33414-6391
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-4291886
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2018
Construction
WOOD
Total area
3,600 SF
Lot
0.68 ac (29,433 SF)
Zoning code
PUD
APN
73-41-43-31-07-000-0130
UPID
US18-4291886
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
$2.35M
CAP Approach
CAP
$2.06M
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.91M
Owner & transaction history
Velodrome Realty Corp · 5 yrs held
Velodrome Realty Corp
since 2020
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
PUD · Wellington, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+52.9%
Auto repair, garage
$1.9M
+45.5%
Retail stores
$1.5M
+17.3%
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 Wellington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wellington 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
$2,275,000
ML approach
$2,350,000
CAP Approach
CAP Return
Estimation
6%
$2,230,000
6.5%
$2,060,000
7%
$1,910,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,275,000
Current use
MEDICAL BUILDING
$1,950,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,855,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$1,495,000
Change: +17% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,430,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,400,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$1.91M
Range $1.72M – $2.10M · ±10% · vs last sale $1.60M (Nov 19 2020)
Last sale anchor
$1.60M
Nov 19 2020
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
$531 / 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
$22,514
Tax year 2023
Assessed value
$1,202,182
Assessed 2023
Previous assessed
$1,131,338
+6.3% YoY
Effective rate
1.87%
On assessed value
Assessed land
$433,100
Assessed improvement
$769,082
Land market value
$433,100
Improvement market value
$769,082
Total market value
$1,202,182
Applied tax rate
73,486.0000
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
2018
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
3,600 SF
Lot
0.68 ac (29,433 SF)
Zoning code
PUD
APN
73-41-43-31-07-000-0130
UPID
US18-4291886
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
PUD · Wellington, FL
Zoning PUD · permitted uses
PUD · Wellington, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wellington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2018
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Velodrome Realty Corp
Entity
Free & Clear · 5 yrs held
Mailing address
606 RIVERSIDE RD, NORTH PALM BEACH, FL 33408-3726
Ownership since
2020
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
Nov 19, 2020
—
Velodrome Realty Corp
Folkstone Properties LLC
Warranty Deed
—
Dec 14, 2018
$550,000
Folkstone Properties LLC
42 K LLC
Warranty Deed
$450,000 · 42 K LLC
Jun 30, 2017
$600,000
Folkstone Properties LLC
42 K LLC
Warranty Deed
—
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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