New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,080,000
Office buildings
2047 Vis Pkwy West Palm Beach, FL 33411-6701
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-2186885
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2006
Construction
CONCRETE
Total area
13,602 SF
Lot
1.07 ac (46,631 SF)
Zoning code
PIPD
APN
00-42-43-22-06-023-0100
UPID
US18-2186885
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
-
HJA-PBK Architects Interior Design Home Decor Store
-
Applied Technology & Management Inc Engineering Consultant Atm
-
Palm Beach Financial Solutions Financial Advisor
-
Red River Holding LLC Holding Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.54M
Blend (final)
Blend
$4.08M
Owner & transaction history
Red River Holdings LLC · 22 yrs held
Red River Holdings LLC
since 2004
7 recorded transactions
Zoning & alternative use
PIPD · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.7M
+32.5%
Retail stores
$5.6M
+31.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,285,000
Current use
INDUSTRIAL (GENERAL)
$5,680,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$5,645,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$4.08M
Range $3.67M – $4.49M · ±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
$300 / 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
$55,060
Tax year 2023
Assessed value
$3,072,107
Assessed 2023
Previous assessed
$2,858,869
+7.5% YoY
Effective rate
1.79%
On assessed value
Assessed land
$720,243
Assessed improvement
$2,351,864
Land market value
$720,243
Improvement market value
$2,351,864
Total market value
$3,072,107
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2006
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
13,602 SF
Lot
1.07 ac (46,631 SF)
Zoning code
PIPD
APN
00-42-43-22-06-023-0100
UPID
US18-2186885
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
PIPD · West Palm Beach, FL
Zoning PIPD · permitted uses
PIPD · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$5.7M
RETAIL STORES
Est. value
$5.6M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
RETAIL STORES
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
2006
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Red River Holdings LLC
Entity
Mailing address
7080 WILSON RD, WEST PALM BEACH, FL 33413-2235
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
—
Red River Holdings LLC
—
Deed
related
$675,000 · 2047 Vista LLC
Aug 23, 2017
—
Red River Holdings LLC
—
Deed
related
$1,365,246 · Stonegate Bk
Oct 25, 2006
—
Red River Holdings LLC
—
Trustees Deed
related
$1,814,000 · First United Bank
Jul 12, 2004
$396,661
Red River Holdings LLC
Palm Bch Commerce Center Assoc
Grant Deed
related
—
—
—
Red River Holdings LLC
—
Deed Of Trust
related
$1,814,000 · First United Bank
—
—
Red River Holdings LLC
—
Deed Of Trust
related
$1,272,724 · First United Bank
—
—
Red River Holdings LLC
—
Loan Modification
related
$1,365,246 · Stonegate Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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