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Property profile & analytics
OFF-MARKET
Estimated value
$8,750,000
Office buildings
209 Phipps Plz Palm Beach, FL 33480-4241
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-0089768
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1926
Construction
WOOD
Total area
6,591 SF
Lot
0.18 ac (7,662 SF)
Zoning code
R-C
APN
50-43-43-22-10-000-0052
UPID
US18-0089768
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
$9.63M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.75M
Owner & transaction history
209 Phipps Plaza LLC · 5 yrs held
209 Phipps Plaza LLC
since 2021
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
R-C · 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 Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$9,430,000
ML approach
$9,630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.75M
Range $7.88M – $9.63M · ±10% · vs last sale $7.98M (Apr 30 2021)
Last sale anchor
$7.98M
Apr 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
$1,328 / 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
$116,686
Tax year 2023
Assessed value
$7,622,441
Assessed 2023
Previous assessed
$7,023,492
+8.5% YoY
Effective rate
1.53%
On assessed value
Assessed land
$6,262,597
Assessed improvement
$1,359,844
Land market value
$6,262,597
Improvement market value
$1,359,844
Total market value
$7,622,441
Applied tax rate
50,411.0000
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
1926
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Bathrooms
6
Total area
6,591 SF
Lot
0.18 ac (7,662 SF)
Zoning code
R-C
APN
50-43-43-22-10-000-0052
UPID
US18-0089768
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
R-C · Palm Beach, FL
Zoning R-C · permitted uses
R-C · Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1926
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
6
Lot
0.18 ac
Current owner
From public records · entity-resolved
209 Phipps Plaza LLC
Entity
Mailing address
7140 SE GREENVIEW PL, HOBE SOUND, FL 33455-8041
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2021
$7,975,000
209 Phipps Plaza LLC
Phipps Plaza Partners LLC
Warranty Deed
—
Aug 27, 2018
—
Phipps Plaza Partners LLC
—
Deed
related
$2,700,000 · Cchc Fund I LP
Aug 30, 2017
—
Phipps Plaza Partners LLC
—
Deed
related
$1,850,407 · Iberiabank
Apr 3, 2017
—
Phipps Plaza Partners LLC
—
Deed
related
$1,646,300 · Iberiabank
Sep 18, 2003
$3,000,000
Phipps Plaza Partners LLC
Kosoy Investments INC
Grant Deed
—
—
—
Phipps Plaza Partners Lc
—
Deed Of Trust
related
$2,437,406 · Wachovia Bank NA
—
—
Phipps Plaza Partners LLC
—
Deed Of Trust
related
$1,646,300 · Iberiabank
—
—
Phipps Plaza Partners LLC
—
Loan Modification
related
$1,850,407 · Iberiabank
—
—
Phipps Plaza Partners LLC
—
Deed Of Trust
related
$2,700,000 · Cchc Fund I LP
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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