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Property profile & analytics
OFF-MARKET
Estimated value
$71,290,000
High-rise multifamily apartments
1701 Clare Ave West Palm Beach, FL 33401-6938
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-0713672
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2021
Construction
CONCRETE
Total area
173,543 SF
Lot
3.18 ac (138,669 SF)
Zoning code
CPD
APN
74-43-43-28-41-001-0000
UPID
US18-0713672
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
$46.47M
Comparable Approach
Comparable
$97.25M
Blend (final)
Blend
$71.29M
Owner & transaction history
Pp West Palm Beach Investors LLC · 4 yrs held
Pp West Palm Beach Investors LLC
since 2022
Last sale
$78.0M
1 recorded transaction
Zoning & alternative use
CPD · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$84,840,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$50,340,000
6.5%
$46,470,000
7%
$43,150,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$103,350,000
Current use
RETAIL STORES
$99,440,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$93,915,000
Change: -9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$91,555,000
Change: -11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$89,315,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$71.29M
Range $64.16M – $78.42M · ±10% · vs last sale $78.00M (Apr 29 2022)
Last sale anchor
$78.00M
Apr 29 2022
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
$411 / 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
$1,328,496
Tax year 2023
Assessed value
$62,674,657
Assessed 2023
Previous assessed
$58,019,528
+8.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$12,157,400
Assessed improvement
$50,517,257
Land market value
$12,157,400
Improvement market value
$50,517,257
Total market value
$62,674,657
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2021
Construction
CONCRETE
Cooling
CENTRAL
Stories
4
Units
178
Total area
173,543 SF
Lot
3.18 ac (138,669 SF)
Zoning code
CPD
APN
74-43-43-28-41-001-0000
UPID
US18-0713672
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FL
Zoning CPD · permitted uses
CPD · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$103.4M
RETAIL STORES
Est. value
$99.4M
MEDICAL BUILDING
Est. value
$93.9M
COMMERCIAL (GENERAL)
Est. value
$91.6M
AUTO REPAIR, GARAGE
Est. value
$89.3M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2021
Construction
CONCRETE
Cooling
Yes
Stories
4
Units
178
Lot
3.18 ac
Current owner
From public records · entity-resolved
Pp West Palm Beach Investors LLC
Entity
Mailing address
540 MADISON AVE FL #35, NEW YORK, NY 10022-3332
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2022
$78,000,000
Pp West Palm Beach Investors LLC
Warehouse District Flats LLC
Special Warranty Deed
$50,700,000 · Truist 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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