Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,010,000
Auto shops
1840 Dr Martin Luther King Jr Blvd Riviera Beach, FL 33404-7105
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4887163
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2003
Construction
CONCRETE
Total area
11,594 SF
Lot
2.51 ac (109,553 SF)
Zoning code
IL
APN
56-43-42-31-27-000-0031
UPID
US18-4887163
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
$2.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.01M
Owner & transaction history
Spirit Realty LP · 4 yrs held
Spirit Realty LP
since 2021
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
IL · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Limited Industrial District
General category
INDUSTRIAL
Zone area
342.88 ac
Source
Realmo
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
$2,210,000
ML approach
$2,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.01M
Range $1.81M – $2.21M · ±10% · vs last sale $1.78M (Nov 30 2021)
Last sale anchor
$1.78M
Nov 30 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
$173 / 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
$55,802
Tax year 2023
Assessed value
$2,585,330
Assessed 2023
Previous assessed
$2,328,674
+11.0% YoY
Effective rate
2.16%
On assessed value
Assessed land
$966,257
Assessed improvement
$1,619,073
Land market value
$966,257
Improvement market value
$1,619,073
Total market value
$2,585,330
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Total area
11,594 SF
Lot
2.51 ac (109,553 SF)
Zoning code
IL
APN
56-43-42-31-27-000-0031
UPID
US18-4887163
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
IL · Riviera Beach, FLZoning 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
Zone name
Limited Industrial District
General category
INDUSTRIAL
Zone area
342.88 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2003
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.51 ac
Current owner
From public records · entity-resolved
Spirit Realty LP
Entity
Free & Clear · 4 yrs held
Mailing address
2727 N HARWOOD ST STE #300, DALLAS, TX 75201-2407
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2021
$1,777,529
Spirit Realty LP
Sterling Collision Centers LLC
Special Warranty Deed
—
Aug 27, 2014
$750,000
Sterling Collision Centers LLC
Bank Of Ny Mellon Trust Co NA
Grant Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1840 Dr Martin Luther King Jr Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
