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Property profile & analytics
OFF-MARKET
Estimated value
$3,105,000
Medical Office Space
1803 Australian Ave West Palm Beach, FL 33409-6454
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4474606
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
CONCRETE
Total area
10,316 SF
Lot
1.29 ac (56,110 SF)
Zoning code
GC
APN
74-43-43-29-00-000-5190
UPID
US18-4474606
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
-
Stephens Eddie Law Firm
-
Gordon S. Richstone Law Law Firm
-
Flagler Health and Wellness Medical Clinic
-
Belluccio Allen Law Firm
-
Charles H Damsel Pa Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.25M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.11M
Owner & transaction history
Hillsboro Investments INC · 4 yrs held
Hillsboro Investments INC
since 2021
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
GC · 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
$4,245,000
ML approach
$4,250,000
CAP Approach
CAP Return
Estimation
6%
$2,405,000
6.5%
$2,220,000
7%
$2,060,000
Blend value · Realmo final
$3.11M
Range $2.79M – $3.42M · ±10% · vs last sale $3.22M (Sep 21 2021)
Last sale anchor
$3.22M
Sep 21 2021
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
$301 / 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
$63,549
Tax year 2023
Assessed value
$2,925,387
Assessed 2023
Previous assessed
$2,823,255
+3.6% YoY
Effective rate
2.17%
On assessed value
Assessed land
$900,533
Assessed improvement
$2,024,854
Land market value
$900,533
Improvement market value
$2,024,854
Total market value
$2,925,387
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1980
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
10,316 SF
Lot
1.29 ac (56,110 SF)
Zoning code
GC
APN
74-43-43-29-00-000-5190
UPID
US18-4474606
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.
Building & site characteristics
From public records
Year built
1980
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Hillsboro Investments INC
Entity
Mailing address
PO BOX 1269, TRAVERSE CITY, MI 49685-1269
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2021
$3,221,359
Hillsboro Investments INC
Adelphia Equities LLC
Special Warranty Deed
—
Nov 20, 2019
—
Adelphia Equities LLC
—
Deed
related
$2,200,000 · Hillsboro Investments INC
May 14, 2019
—
Adelphia Equities LLC
—
Deed
related
$1,350,000 · Sw Legacy LLC
Apr 13, 2018
—
Adelphia Equities LLC
—
Trustees Deed
related
$1,350,000 · Sw Legacy LLC
Oct 22, 2015
$1,900,000
Adelphia Equities LLC
Q Health Services INC
Grant Deed
—
Oct 21, 2015
$1,500,000
Q Health Services INC
Big Oak Properties
Grant Deed
—
—
—
Adelphia Equities LLC
—
Loan Modification
related
$1,350,000 · Sw Legacy LLC
—
—
Adelphia Equities LLC
—
Deed Of Trust
related
$2,200,000 · Hillsboro Investments INC
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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