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Property profile & analytics
FOR LEASE
Office buildings
223 Sunset Ave Palm Beach, FL 33480
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3359466
For Lease
Contact for pricing
223 Sunset Ave, Palm Beach, FL 33480
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1984
Construction
STEEL FRAME
Total area
22,689 SF
Lot
0.6 ac (26,101 SF)
Zoning code
C-TS
APN
50-43-43-22-31-000-1840
UPID
US18-3359466
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
-
Illustrated Properties Real Estate Agency
-
Recruit Rifle Employment Agency
-
Jannie Matheson Gerds REALTOR | Illustrated Properties Palm Beach Real Estate Agency
-
Endowment Research Group Corporate Office Financial Advisor
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
223 Sunset Holdings LLC · 4 yrs held
223 Sunset Holdings LLC
since 2021
Last sale
$23.0M
5 recorded transactions
Zoning & alternative use
C-TS · 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 Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$239,105
Tax year 2023
Assessed value
$14,956,319
Assessed 2023
Previous assessed
$15,238,327
-1.9% YoY
Effective rate
1.60%
On assessed value
Assessed land
$5,666,130
Assessed improvement
$9,290,189
Land market value
$5,666,130
Improvement market value
$9,290,189
Total market value
$14,956,319
Applied tax rate
50,411.0000
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
For Lease
Year built
1984
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
2
Total area
22,689 SF
Lot
0.6 ac (26,101 SF)
Zoning code
C-TS
APN
50-43-43-22-31-000-1840
UPID
US18-3359466
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-TS · Palm Beach, FL
Zoning C-TS · permitted uses
C-TS · Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1984
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
223 Sunset Holdings LLC
Entity
Mailing address
223 SUNSET AVE STE #223, PALM BEACH, FL 33480-3855
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Sep 30, 2021
$23,000,000
223 Sunset Holdings LLC
Ned 223 Sunset Owner LLC
Special Warranty Deed
$18,400,000 · Bank Of America NA
Jan 14, 2021
—
Ned 223 Sunset Owner LLC
—
Deed
related
$9,925,000 · Santander Bank NA
Feb 20, 2019
$10,200,000
Ned 223 Sunset Owner LLC
Rampell,richard & Ellen K
Grant Deed
—
Dec 16, 2004
$5,491,000
Richard Rampell
223 Sunset LLC
Warranty Deed
$4,667,350 · Bank Of America
Jul 14, 2003
$3,450,000
223 Sunset LLC
Sunset Pb Ltd Partnership
Grant Deed
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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