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Property profile & analytics
OFF-MARKET
Estimated value
$18,545,000
High-rise multifamily apartments
1745 Drexel Rd, West Palm Beach, FL 33417-4265
Entity Owned
Free & Clear
Property ID
US18-4581442
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1984
Construction
WOOD
Total area
87,390 SF
Lot
7.3 ac (317,962 SF)
Zoning code
RM
APN
00-42-43-27-23-001-0000
UPID
US18-4581442
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
-
Drexel Apartments Retirement Community
-
Palm Beach County Housing Auth Housing Authority
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.55M
Owner & transaction history
PALM BEACH COUNTY HOUSING AUTH
PALM BEACH COUNTY HOUSING AUTH
Zoning & alternative use
RM · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$25,350,000
6.5%
$23,400,000
7%
$21,730,000
Blend value · Realmo final
$18.55M
Range $16.69M – $20.40M · ±10%
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
$212 / 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
Assessed value
$9,149,157
Assessed 2023
Previous assessed
$7,208,010
+26.9% YoY
Assessed land
$2,500,000
Assessed improvement
$6,649,157
Land market value
$2,500,000
Improvement market value
$6,649,157
Total market value
$9,149,157
Applied tax rate
192.0000
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
1984
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
5
Units
100
Rooms
1
Bathrooms
11
Total area
87,390 SF
Lot
7.3 ac (317,962 SF)
Zoning code
RM
APN
00-42-43-27-23-001-0000
UPID
US18-4581442
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RM · West Palm Beach, FL
Zoning RM · permitted uses
RM · 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.
Building & site characteristics
From public records
Year built
1984
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
5
Units
100
Rooms
1
Bathrooms
11
Lot
7.3 ac
Current owner
From public records · entity-resolved
PALM BEACH COUNTY HOUSING AUTH
Individual
Free & Clear · 0 yrs held
Mailing address
3432 45TH ST, WEST PALM BEACH, FL 33407-1844
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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