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Property profile & analytics
OFF-MARKET
Estimated value
$7,675,000
Strip malls
2240 19th St Ste 1100, Boca Raton, FL 33431-7399
Entity Owned
14-yr Hold
Free & Clear
Property ID
US18-5613178
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
CONCRETE
Total area
27,923 SF
Lot
5.58 ac (242,969 SF)
Zoning code
R-B-1
APN
06-42-47-14-17-001-0000
UPID
US18-5613178
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
-
Cognitive Advantage LLC Physician Medical Clinic
-
Revive Scalp Hair Salon
-
Faze Subs Restaurant Take-out & Catering
-
Skin by Nanci Beauty Services Hair Salon Nail Salon
-
Pardon My Cheesesteak Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.68M
Owner & transaction history
L & B Cip Glades Plaza LLC · 14 yrs held
L & B Cip Glades Plaza LLC
since 2012
7 recorded transactions
Zoning & alternative use
R-B-1 · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.3M
+11.9%
Retail stores
$11.1M
+0.9%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
by Request
CAP Approach
CAP Return
Estimation
6%
$8,960,000
6.5%
$8,270,000
7%
$7,680,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$11,030,000
Current use
COMMERCIAL (GENERAL)
$12,345,000
Change: +12% · Conversion: Easy
RETAIL STORES
$11,135,000
Change: +1% · Conversion: Easy
MEDICAL BUILDING
$11,005,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$7.68M
Range $6.91M – $8.44M · ±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
$275 / 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
$340,826
Tax year 2023
Assessed value
$17,000,000
Assessed 2023
Previous assessed
$17,000,000
+0.0% YoY
Effective rate
2.00%
On assessed value
Assessed improvement
$17,000,000
Improvement market value
$17,000,000
Total market value
$17,000,000
Applied tax rate
6,154.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
27,923 SF
Lot
5.58 ac (242,969 SF)
Zoning code
R-B-1
APN
06-42-47-14-17-001-0000
UPID
US18-5613178
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
R-B-1 · Boca Raton, FL
Zoning R-B-1 · permitted uses
R-B-1 · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$11.0M
COMMERCIAL (GENERAL)
Est. value
$12.3M
RETAIL STORES
Est. value
$11.1M
MEDICAL BUILDING
Est. value
$11.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
1980
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
5.58 ac
Current owner
From public records · entity-resolved
L & B Cip Glades Plaza LLC
Entity
Free & Clear · 14 yrs held
Mailing address
302 DATURA ST STE #100, WEST PALM BEACH, FL 33401-5481
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2012
$75,000,000
L & B Cip Glades Plaza LLC
Ms Woolbright Glades Plaza LLC
Grant Deed
—
May 29, 2012
—
L & B Cip Glades Plaza LLC
Ms Woolbright Glades Plaza LLC
Quit Claim Deed
related
$27,000,000 · Ladder Capital Finance I LLC
Mar 29, 2012
—
Ms Woolbright Glades Plaza LLC
—
Deed Of Trust
related
$49,000,000 · Ladder Capital Finance I LLC
May 10, 2005
$51,800,000
Ms Woolbright Glades Plaza LLC
Glades Plaza
Grant Deed
related
$42,182,000 · Pnc Bank
Dec 29, 1997
$10,977,000
Glades Plaza LP
Boca Glades Associates Ltd
Grant Deed
related
—
—
—
Glades Brewery Partners Ltd
—
Deed Of Trust
related
$2,538,000 · Great Florida Bank
—
—
L & B Cip Glades Plaza LLC
—
Deed Of Trust
related
$54,000,000 · Ladder Capital Finance I LLC
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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