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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Turn key restaurants
2224 Palm Bch Lks Blvd West Palm Beach, FL 33409-3402
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US18-4507765
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1982
Construction
WOOD
Total area
11,385 SF
Lot
1.74 ac (75,999 SF)
Zoning code
GC
APN
74-43-43-19-09-038-0040
UPID
US18-4507765
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
$860k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.21M
Owner & transaction history
Hollywood Real Estate Properties Ll · 9 yrs held
Hollywood Real Estate Properties Ll
since 2016
4 recorded transactions
Zoning & alternative use
GC · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±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
$106 / 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
$85,147
Tax year 2023
Assessed value
$3,864,020
Assessed 2023
Previous assessed
$3,626,648
+6.5% YoY
Effective rate
2.20%
On assessed value
Assessed land
$1,882,520
Assessed improvement
$1,981,500
Land market value
$1,882,520
Improvement market value
$1,981,500
Total market value
$3,864,020
Applied tax rate
74,407.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
11,385 SF
Lot
1.74 ac (75,999 SF)
Zoning code
GC
APN
74-43-43-19-09-038-0040
UPID
US18-4507765
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
GC · West Palm Beach, FL
Zoning GC · permitted uses
GC · 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.
Building & site characteristics
From public records
Year built
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Hollywood Real Estate Properties Ll
Entity
Mailing address
359 EAGLE DR, JUPITER, FL 33477-4065
Ownership since
2016
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 22, 2016
$5,065,000
Hollywood Real Estate Properties Ll
Dmd Florida Restaurant Group LLC
Warranty Deed
$1,700,000 · Valley National Bank
Aug 12, 2014
$2,500,000
Dmd Florida Restaurant Group D
New Private Restaurant Props L
Grant Deed
—
Apr 3, 2012
—
New Private Restaurant Properties L
Private Restaurant Properties LLC
Deed
—
Jul 9, 2007
—
Cig Real Estate LLC
Carrabbas Italian Grill INC
Deed
—
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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