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Property profile & analytics
FOR LEASE
Grocery and convenience stores
1709 Belvedere Rd West Palm Beach, FL 33409
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-2817748
For Lease
1 / 2
$1,105,000
1709 Belvedere Rd, West Palm Beach, FL 33409
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1965
Construction
CONCRETE
Total area
3,545 SF
Lot
0.24 ac (10,502 SF)
Zoning code
GC
APN
74-43-43-29-00-000-5080
UPID
US18-2817748
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
-
Latin Cafe and Taste of Italy Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.05M
CAP Approach
CAP
$880k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.11M
Owner & transaction history
Belvedere 2023 LLC · 3 yrs held
Belvedere 2023 LLC
since 2023
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
GC · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+74.8%
Retail stores
$1.5M
+41.0%
Warehouse, storage
$1.4M
+35.1%
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
$1,180,000
ML approach
$1,045,000
CAP Approach
CAP Return
Estimation
6%
$955,000
6.5%
$880,000
7%
$820,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,045,000
Current use
AUTO REPAIR, GARAGE
$1,825,000
Change: +75% · Conversion: Difficult
RETAIL STORES
$1,470,000
Change: +41% · Conversion: Easy
WAREHOUSE, STORAGE
$1,410,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,375,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±10% · vs last sale $1.10M (Feb 2 2023)
Last sale anchor
$1.10M
Feb 2 2023
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
$312 / 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
$15,719
Tax year 2023
Assessed value
$939,282
Assessed 2023
Previous assessed
$530,758
+77.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$367,605
Assessed improvement
$571,677
Land market value
$367,605
Improvement market value
$571,677
Total market value
$939,282
Applied tax rate
74,402.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
For Lease
Year built
1965
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
3
Total area
3,545 SF
Lot
0.24 ac (10,502 SF)
Zoning code
GC
APN
74-43-43-29-00-000-5080
UPID
US18-2817748
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
GC · West Palm Beach, FL
Zoning GC · permitted uses
GC · 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
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1965
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
3
Lot
0.24 ac
Current owner
From public records · entity-resolved
Belvedere 2023 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3309 FAIRMONT DR, NASHVILLE, TN 37203-1007
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2023
$1,100,000
Belvedere 2023 LLC
Joseph John D Onofrio
Warranty Deed
—
Jun 26, 2017
—
Joseph J Donofrio
Donofrio,leslie L
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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