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Property profile & analytics
OFF-MARKET
Estimated value
$4,275,000
Drug stores
2050 45th St West Palm Beach, FL 33407-2019
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4975559
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Construction
CONCRETE
Total area
14,970 SF
Lot
1.84 ac (80,024 SF)
Zoning code
CPD
APN
74-43-43-06-14-000-0021
UPID
US18-4975559
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
-
FedEx OnSite Postal Service Courier Service
-
Western Union Bank Credit Union
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.26M
Comparable Approach
Comparable
$4.26M
Blend (final)
Blend
$4.28M
Owner & transaction history
Omicrom Dev LLC · 8 yrs held
Omicrom Dev LLC
since 2018
1 recorded transaction
Zoning & alternative use
CPD · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.4M
+3.0%
Industrial (general)
$6.3M
+0.6%
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 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%
$3,525,000
6.5%
$3,255,000
7%
$3,025,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,210,000
Current use
COMMERCIAL (GENERAL)
$6,400,000
Change: +3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$6,250,000
Change: +1% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,740,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.28M
Range $3.85M – $4.70M · ±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
$286 / 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
$77,117
Tax year 2023
Assessed value
$3,512,069
Assessed 2023
Previous assessed
$3,353,366
+4.7% YoY
Effective rate
2.20%
On assessed value
Assessed land
$1,567,690
Assessed improvement
$1,944,379
Land market value
$1,567,690
Improvement market value
$1,944,379
Total market value
$3,512,069
Applied tax rate
74,407.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
14,970 SF
Lot
1.84 ac (80,024 SF)
Zoning code
CPD
APN
74-43-43-06-14-000-0021
UPID
US18-4975559
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FL
Zoning CPD · permitted uses
CPD · 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
RETAIL STORES Current
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$6.4M
INDUSTRIAL (GENERAL)
Est. value
$6.3M
WAREHOUSE, STORAGE
Est. value
$5.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1999
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.84 ac
Current owner
From public records · entity-resolved
Omicrom Dev LLC
Entity
Mailing address
16690 COLLINS AVE STE #1004, SUNNY ISLES BEACH, FL 33160-5687
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2018
—
Omicrom Dev LLC
—
Grant Deed
related
$2,000,000 · Executive Nat'l 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.
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