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Property profile & analytics
OFF-MARKET
Estimated value
$8,480,000
Office buildings
218 Royal Palm Way Palm Beach, FL 33480-4303
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-1842621
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1946
Construction
CONCRETE
Total area
12,446 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-025-0370
UPID
US18-1842621
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
-
Susan Merola-Mcconn Pediatrician Physician
-
Melissa Samuels Pediatrician Physician
-
Executive Medicine Physician
-
UHealth Concierge Medicine Palm Beach Medical Clinic
-
Mark Mcconn Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.94M
CAP Approach
CAP
$5.42M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.48M
Owner & transaction history
218 Holdings LLC · 5 yrs held
218 Holdings LLC
since 2021
Last sale
$8.5M
6 recorded transactions
Zoning & alternative use
C-OPI · Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.6M
+74.0%
Apartment house (5+ units)
$8.5M
+72.8%
Auto repair, garage
$6.1M
+24.5%
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
$10,050,000
ML approach
$9,935,000
CAP Approach
CAP Return
Estimation
6%
$5,865,000
6.5%
$5,415,000
7%
$5,025,000
Alternative Use
Use
Estimation
RESTAURANT
$8,590,000
Change: +74% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$8,530,000
Change: +73% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,145,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,855,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$8.48M
Range $7.63M – $9.33M · ±10% · vs last sale $8.50M (Apr 6 2021)
Last sale anchor
$8.50M
Apr 6 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
$681 / 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
$131,111
Tax year 2023
Assessed value
$8,338,787
Assessed 2023
Previous assessed
$6,641,239
+25.6% YoY
Effective rate
1.57%
On assessed value
Assessed land
$4,930,816
Assessed improvement
$3,407,971
Land market value
$4,930,816
Improvement market value
$3,407,971
Total market value
$8,338,787
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
1946
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
3
Total area
12,446 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-025-0370
UPID
US18-1842621
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-OPI · Palm Beach, FL
Zoning C-OPI · permitted uses
C-OPI · 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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$5.9M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1946
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.46 ac
Current owner
From public records · entity-resolved
218 Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 3189, PALM BEACH, FL 33480-1389
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2021
$8,500,000
218 Holdings LLC
218rpw LLC
Warranty Deed
—
Apr 24, 2018
$6,470,000
218 Rpw LLC
218 Royal Palm Way LLC
Warranty Deed
—
Dec 30, 2010
$5,400,000
218 Royal Palm Way LLC
Rp Of SR Royal Palm Way LLC
Grant Deed
—
Sep 28, 2010
$300
Rp Of SR Royal Palm Way LLC
W2007 Bpfi Rpw Owner L Coc
Trustees Deed
related
—
Aug 2, 2005
—
Broadway Rpw Revocable Statutory Tr
Arh Lc
Special Warranty Deed
—
—
—
W2007 Bpfi Rpw Owner LLC
—
Deed Of Trust
related
$6,411,764 · Column Financial INC
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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