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    Property profile & analytics

    2215 Dixie Hwy West Palm Beach, FL 33401-7911

    • Office buildings
    • 1,830 SF
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6340239
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Enterprise Rent-A-Car / Car Rental Facility

    Property Details for 2215 Dixie Hwy

    Year built
    1967
    Construction
    CONCRETE
    Lot size
    0.40 lot acres
    Property size
    1,830 SF
    Zone code
    GC
    Property type
    Office buildings
    APN
    74-43-43-28-06-021-0081
    APU
    74434328060210081

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,135,000
      6.5%
      $1,045,000
      7%
      $970,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $541,000
      Market price range: $162k - $541k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $770,000
      Current use
      RETAIL STORES
      $1,050,000
      Change: +36% Conversion: Moderate
      MEDICAL BUILDING
      $990,000
      Change: +29% Conversion: Easy
      COMMERCIAL (GENERAL)
      $965,000
      Change: +26% Conversion: Easy
      AUTO REPAIR, GARAGE
      $940,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $730,000
      Change: -5% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0545
    Latitude
    26.694
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,891
    $1,549,710
    $268,328
    $1,818,038
    -
    $1,549,710
    $268,328
    $1,818,038

    Comparable in this City

    • Value Estimation by Request

      525 Flagler Dr, Unit CCU12

      OFFICE BUILDING
      525 Flagler Dr, West Palm Beach, FL 33401-5922
      View Details
    • Value Estimation
      $715,000
      1,766 SF

      701 Olive Ave Ste, Unit 111

      OFFICE BUILDING • 1,766 SF
      701 Olive Ave Ste, West Palm Beach, FL 33401-6197
      View Details
    • Value Estimation
      $580,000
      1,425 SF

      701 Olive Ave Ste, Unit 114

      OFFICE BUILDING • 1,425 SF
      701 Olive Ave Ste, West Palm Beach, FL 33401-6197
      View Details
    • Value Estimation
      $615,000
      1,535 SF

      701 Olive Ave Ste, Unit 117

      OFFICE BUILDING • 1,535 SF
      701 Olive Ave Ste, West Palm Beach, FL 33401-6197
      View Details
    • Value Estimation
      $1,695,000
      3,986 SF

      510 Datura St

      OFFICE BUILDING (MULTI-STORY) • 3,986 SF
      510 Datura St, West Palm Beach, FL 33401-5308
      View Details
    • Value Estimation
      $965,000
      2,499 SF

      415 Olive Ave

      OFFICE BUILDING (MULTI-STORY) • 2,499 SF
      415 Olive Ave, West Palm Beach, FL 33401-5905
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Suites in West Palm

      Office suites for lease with panoramic intracoastal views.
      625 N Flagler Dr, West Palm Beach, FL 33401
      View Details
    • Contact for pricing
      2,768 SF

      West Palm Beach Office Space

      Office space with shared amenities in West Palm Beach.
      400 Executive Center Dr, West Palm Beach, FL 33401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Building in West Palm

      Three-story mixed-use building with office, retail, and restaurant spaces.
      313 Datura St, West Palm Beach, FL 33401
      View Details
    • Contact for pricing

      West Palm Beach Commercial Building

      Two-story building in downtown West Palm Beach with parking.
      601 N Dixie Hwy, West Palm Beach, FL 33401
      View Details
    • Contact for pricing
      60,000 SF

      Downtown West Palm Beach Location

      Office and retail spaces with auxiliary parking in downtown.
      400 S Australian Ave, West Palm Beach, FL 33401
      View Details
    • Contact for pricing

      Premium Class-A Office Space

      Class-A office space in a serene, campus-like environment.
      1400 Centrepark Blvd, West Palm Beach, FL 33401
      View Details
    • Contact for pricing
      16,296 SF

      Prestigious West Palm Beach Office

      Prime office and retail spaces with waterfront views and amenities.
      777 S Flagler Dr, West Palm Beach, FL 33401
      View Details
    • $50 SF/Yr
      6,496 SF

      Freestanding Building on Palm Beach Lakes

      Freestanding building for lease with high visibility.
      2055 Palm Beach Lakes Blvd, West Palm Beach, FL 33401
      View Details
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    2215 Dixie Hwy
    West Palm Beach, FL 33401-7911
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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