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    Property profile & analytics

    222 Picadilly St West Palm Beach, FL 33407-6017

    • Office buildings
    • 6,002 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2020
    $850,000
    Value Estimations
    $1,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0141941
    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

    • Neuroscience Institute at Ambrosia / Medical Clinic
    • Midwest Detox at Ambrosia / Medical Clinic
    • Neuroscience Institute / Physician
    • Neuroscience Research Institute of Florida - Mental Health Treatment / Medical Clinic

    Property Details for 222 Picadilly St

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    0.43 lot acres
    Property size
    6,002 SF
    Zone code
    CMUD-CII
    Property type
    Office buildings
    APN
    74-43-43-10-19-005-0100
    APU
    74434310190050100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,385,000
      ML approach
      $1,480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,091,000
      Market price range: $424k - $1.66M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,880,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0516
    Latitude
    26.7326
    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
    $22,887
    $373,480
    $706,516
    $1,079,996
    -
    $373,480
    $706,516
    $1,079,996

    Comparable in this City

    • Value Estimation by Request
      0.29 Acres

      1923 Flagler Dr

      OFFICE BUILDING • 0.29 Acres
      1923 Flagler Dr, West Palm Beach, FL 33407
      View Details
    • Value Estimation
      $1,925,000
      6,308 SF

      3233 Commerce Pl

      OFFICE BUILDING (MULTI-STORY) • 6,308 SF
      3233 Commerce Pl, West Palm Beach, FL 33407-1913
      View Details
    • Value Estimation
      $3,560,000
      12,480 SF

      3222 Commerce Pl

      OFFICE BUILDING (MULTI-STORY) • 12,480 SF
      3222 Commerce Pl, West Palm Beach, FL 33407-1904
      View Details
    • Value Estimation
      $1,825,000
      5,122 SF

      5715 Corporate Way

      OFFICE BUILDING (MULTI-STORY) • 5,122 SF
      5715 Corporate Way, West Palm Beach, FL 33407-2003
      View Details
    • Value Estimation
      $535,000
      1,140 SF

      5730 Corporate Way Ste, Unit 214

      OFFICE BUILDING • 1,140 SF
      5730 Corporate Way Ste, West Palm Beach, FL 33407-2032
      View Details
    • Value Estimation
      $1,120,000
      2,831 SF

      5200 Ee Ave

      OFFICE BUILDING (MULTI-STORY) • 2,831 SF
      5200 Ee Ave, West Palm Beach, FL 33407-2374
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,000 SF

      West Palm Beach Office Building

      Renovated office building with I-95 access and CPD zoning.
      4431 Embarcadero Dr, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      Renovated Class B Office Building

      Two-story office building with recent renovations and professional management.
      1720 East Tiffany Dr, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      Prime Location Retail/Office Space

      Retail or office space near Downtown West Palm Beach.
      3600 Broadway Ave, West Palm Beach, FL 33407
      View Details
    • $9,000,000
      41,861 SF

      West Palm Beach Medical Office Building

      Prime medical office, strong NOI, owner-user potential.
      4400 Congress Ave, West Palm Beach, FL 33407
      View Details
    • $1,675,000

      Unique Office/Warehouse in Dixie/NORA Corridor

      3742 SF office/warehouse with 6000 SF lot in booming area.
      408 17Th St, West Palm Beach, FL 33407
      View Details
    • $1,400,000

      West Palm Beach Development Opportunity

      Partially built 3-story structure for office, retail, or mixed-use.
      322 N Lakeside Ct, West Palm Beach, FL 33407
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      39,246 SF

      Upgraded Office Building in West Palm

      Recently upgraded office building with lake views and ample parking.
      1100 Northpoint Pkwy, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building in central West Palm Beach.
      701 Northpoint Pkwy, West Palm Beach, FL 33407
      View Details
    • $25 SF/Yr
      17,524 SF

      West Palm Beach Office Space

      Newly Renovated Office, Ample Parking
      1710 Tiffany Dr, West Palm Beach, FL 33407
      View Details
    • $20 SF/Yr
      5,228 SF

      Medical Office Space Available

      5,228 SF fully built-out medical office space for lease.
      801 Northpoint Pkwy, West Palm Beach, FL 33407
      View Details
    • $48 SF/Yr
      160 SF

      West Palm Beach Office Space

      Office space available for lease in West Palm Beach.
      3600 Broadway, West Palm Beach, FL 33407
      View Details
    • $22 SF/Yr
      39,980 SF

      West Palm Beach Office Space

      Prestigious Office Building, Abundant Parking
      1100 Northpoint Pkwy, West Palm Beach, FL 33407
      View Details
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    222 Picadilly St
    West Palm Beach, FL 33407-6017
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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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