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Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Residential income homes
1931 16th Ct Riviera Beach, FL 33404-5082
Entity Owned
13-yr Hold
Property ID
US18-3409247
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1990
Construction
CONCRETE
Total area
3,064 SF
Lot
11.22 ac (488,839 SF)
Zoning code
RM-15
APN
56-43-42-31-19-001-0000
UPID
US18-3409247
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
$960k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.48M
Owner & transaction history
Spinnaker Landing LLC · 13 yrs held
Spinnaker Landing LLC
since 2013
4 recorded transactions
Zoning & alternative use
RM-15 · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Multiple Family Dwelling District
General category
RESIDENTIAL
Zone area
290.84 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
by Request
ML approach
$960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,825,000
Current use
MEDICAL BUILDING
$1,660,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,575,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±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
$483 / 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
$216,896
Tax year 2023
Assessed value
$12,727,794
Assessed 2023
Previous assessed
$12,727,794
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$3,271,800
Assessed improvement
$9,455,994
Land market value
$3,271,800
Improvement market value
$9,455,994
Total market value
$12,727,794
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
27
Stories
2
Units
3
Bathrooms
21
Total area
3,064 SF
Lot
11.22 ac (488,839 SF)
Zoning code
RM-15
APN
56-43-42-31-19-001-0000
UPID
US18-3409247
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RM-15 · Riviera Beach, FLZoning RM-15 · permitted uses
RM-15 · Riviera Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Multiple Family Dwelling District
General category
RESIDENTIAL
Zone area
290.84 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1990
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
27
Units
3
Bathrooms
21
Lot
11.22 ac
Current owner
From public records · entity-resolved
Spinnaker Landing LLC
Entity
Mailing address
11098 BISCAYNE BLVD, MIAMI, FL 33161-7429
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2013
$3,975,000
Spinnaker Landing LLC
T/a Riviera LP
Warranty Deed
—
—
—
Summer Lake Villas LLC
—
Loan Modification
related
$26,000,000 · Kgs-alpha R/e Cap Markets
—
—
Spinnaker Landing LLC
—
Deed Of Trust
related
$4,500,000 · Capital Bk
—
—
Spinnaker Landing LLC
—
Deed Of Trust
related
$2,981,250 · Banco Popular NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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