Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,690,000
Drug stores
21880 State Rd 7th 7 Boca Raton, FL 33428-2804
Entity Owned
6-yr Hold
Free & Clear
Property ID
US18-4114855
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2000
Construction
CONCRETE
Total area
15,785 SF
Lot
2.13 ac (92,569 SF)
Zoning code
MUPD
APN
00-42-47-19-31-002-0000
UPID
US18-4114855
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
$13.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.57M
Blend (final)
Blend
$11.69M
Owner & transaction history
Levine Investments LP · 6 yrs held
Levine Investments LP
since 2020
Last sale
$11.6M
4 recorded transactions
Zoning & alternative use
MUPD · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$12.8M
+103.4%
Restaurant
$10.9M
+73.1%
Apartment house (5+ units)
$10.8M
+71.9%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
$13,360,000
ML approach
$13,280,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,800,000
Change: +103% · Conversion: Easy
RESTAURANT
$10,895,000
Change: +73% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$10,820,000
Change: +72% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,795,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$11.69M
Range $10.52M – $12.86M · ±10% · vs last sale $11.63M (Jul 9 2020)
Last sale anchor
$11.63M
Jul 9 2020
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
$741 / 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
$92,682
Tax year 2023
Assessed value
$5,598,392
Assessed 2023
Previous assessed
$5,140,139
+8.9% YoY
Effective rate
1.66%
On assessed value
Assessed land
$3,154,820
Assessed improvement
$2,443,572
Land market value
$3,154,820
Improvement market value
$2,443,572
Total market value
$5,598,392
Applied tax rate
355.0000
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
2000
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
15,785 SF
Lot
2.13 ac (92,569 SF)
Zoning code
MUPD
APN
00-42-47-19-31-002-0000
UPID
US18-4114855
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MUPD · Boca Raton, FL
Zoning MUPD · permitted uses
MUPD · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$12.8M
RESTAURANT
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.8M
AUTO REPAIR, GARAGE
Est. value
$7.8M
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.13 ac
Current owner
From public records · entity-resolved
Levine Investments LP
Entity
Free & Clear · 6 yrs held
Mailing address
2801 E CAMELBACK RD STE #450, PHOENIX, AZ 85016-4363
Ownership since
2020
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
Jul 9, 2020
$11,626,306
Levine Investments LP
Cp Wsb-20 LLC
Grant Deed
—
Apr 2, 2020
—
Cp Wsb-20 LLC
—
Deed
related
$97,263,600 · Nexbank Ssb
Feb 19, 2020
$9,154,660
Cp Wsb-20 LLC
Walgreen Co
Grant Deed
—
—
—
Cp Wsb-20 LLC
—
Deed Of Trust
related
$97,263,600 · Nexbank Ssb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 21880 State Rd 7th 7?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
