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Property profile & analytics
OFF-MARKET
Estimated value
$12,400,000
Distribution centers
1800 President Barack Obama Hwy Riviera Beach, FL 33404-5451
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4535333
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Construction
STEEL FRAME
Total area
22,052 SF
Lot
3.14 ac (136,565 SF)
Zoning code
IL
APN
56-43-42-29-11-019-0110
UPID
US18-4535333
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
$12.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.36M
Blend (final)
Blend
$12.40M
Owner & transaction history
1800 Barack Obama LLC · 2 yrs held
1800 Barack Obama LLC
since 2024
Last sale
$12.4M
3 recorded transactions
Zoning & alternative use
IL · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.9M
+206.1%
Apartment house (5+ units)
$13.1M
+138.4%
Medical building
$11.9M
+116.6%
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 Riviera Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riviera 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
$12,400,000
ML approach
$12,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$16,865,000
Change: +206% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,130,000
Change: +138% · Conversion: Difficult
MEDICAL BUILDING
$11,935,000
Change: +117% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,350,000
Change: +106% · Conversion: Easy
INDUSTRIAL (GENERAL)
$9,205,000
Change: +67% · Conversion: Easy
RETAIL STORES
$9,150,000
Change: +66% · Conversion: Moderate
OFFICE BUILDING
$7,805,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$12.40M
Range $11.16M – $13.64M · ±10% · vs last sale $12.40M (Apr 19 2024)
Last sale anchor
$12.40M
Apr 19 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
$562 / 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
$185,446
Tax year 2023
Assessed value
$8,798,460
Assessed 2023
Previous assessed
$8,798,460
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$1,114,387
Assessed improvement
$7,684,073
Land market value
$1,114,387
Improvement market value
$7,684,073
Total market value
$8,798,460
Applied tax rate
56,407.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Total area
22,052 SF
Lot
3.14 ac (136,565 SF)
Zoning code
IL
APN
56-43-42-29-11-019-0110
UPID
US18-4535333
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
IL · Riviera Beach, FL
Zoning IL · permitted uses
IL · Riviera Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riviera Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$16.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.1M
MEDICAL BUILDING
Est. value
$11.9M
AUTO REPAIR, GARAGE
Est. value
$11.4M
INDUSTRIAL (GENERAL)
Est. value
$9.2M
RETAIL STORES
Est. value
$9.2M
OFFICE BUILDING
Est. value
$7.8M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
3.14 ac
Current owner
From public records · entity-resolved
1800 Barack Obama LLC
Entity
Mailing address
345 PARK AVE, NEW YORK, NY 10154-0004
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Apr 19, 2024
$12,400,000
1800 Barack Obama LLC
Solar Tech Of Riviera Beach LLC
Special Warranty Deed
—
Jan 23, 2024
—
Solar Tech Realty Of Riviera Beach
—
Deed
related
$6,000,000 · Owemanco Mortgage Holding Corporation
Jul 21, 2016
—
Solar Tech Realty Of Rivirera Beach
—
Deed
related
$5,000,000 · Marquis 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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