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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Office buildings
2221 Monet Rd West Palm Beach, FL 33410-3448
Entity Owned
23-yr Hold
Free & Clear
Property ID
US18-2443448
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1997
Construction
WOOD
Total area
2,234 SF
Lot
3.92 ac (170,629 SF)
Zoning code
NZ
APN
68-43-42-05-20-003-0010
UPID
US18-2443448
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
-
HMY Yacht Sales - North Palm Beach (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$900k
Owner & transaction history
Maritime Holdings II INC · 23 yrs held
Maritime Holdings II INC
since 2003
5 recorded transactions
Zoning & alternative use
NZ · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+54.5%
Auto repair, garage
$1.2M
+46.9%
Retail stores
$925,000
+18.4%
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 West Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
by Request
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$785,000
Current use
MEDICAL BUILDING
$1,210,000
Change: +54% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,150,000
Change: +47% · Conversion: Difficult
RETAIL STORES
$925,000
Change: +18% · Conversion: Moderate
WAREHOUSE, STORAGE
$890,000
Change: +14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$870,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$660,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10%
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
$403 / 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
$89,068
Tax year 2023
Assessed value
$4,577,247
Assessed 2023
Previous assessed
$4,481,274
+2.1% YoY
Effective rate
1.95%
On assessed value
Assessed land
$4,195,452
Assessed improvement
$381,795
Land market value
$4,195,452
Improvement market value
$381,795
Total market value
$4,577,247
Applied tax rate
68,401.0000
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
1997
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
2,234 SF
Lot
3.92 ac (170,629 SF)
Zoning code
NZ
APN
68-43-42-05-20-003-0010
UPID
US18-2443448
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
NZ · West Palm Beach, FL
Zoning NZ · permitted uses
NZ · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$785,000
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$925,000
WAREHOUSE, STORAGE
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$870,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$660,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1997
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
3.92 ac
Current owner
From public records · entity-resolved
Maritime Holdings II INC
Entity
Free & Clear · 23 yrs held
Mailing address
817 NE 3RD ST, DANIA, FL 33004-3401
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2017
—
Maritime Holdings II INC
—
Deed
related
$2,658,911 · Usameribank
Mar 8, 2003
—
Maritime Holdings II INC
Milling,glenn E Est
Quit Claim Deed
related
—
Mar 8, 2003
$4,000,000
Maritime Holdings II INC
Millings Marina Corp
Grant Deed
related
$2,400,000 · Amsouth Bank
—
—
Maritime Holdings II INC
—
Deed Of Trust
related
$3,200,000 · Usameribank
—
—
Maritime Holdings II INC
—
Loan Modification
related
$2,658,911 · Usameribank
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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