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Property profile & analytics
OFF-MARKET
Estimated value
$1,925,000
Retail space
2377 Military Trl West Palm Beach, FL 33409-2904
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-3977950
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Construction
CONCRETE
Total area
7,028 SF
Lot
1.04 ac (45,281 SF)
Zoning code
CG
APN
00-42-43-24-06-000-0010
UPID
US18-3977950
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
-
UPS Access Point location Courier Service Postal Service
-
Advance Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
$1.53M
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.93M
Owner & transaction history
Direnzo Real Estate Management II L · 2 yrs held
Direnzo Real Estate Management II L
since 2024
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
CG · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.9M
+0.6%
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
$1,925,000
ML approach
$1,925,000
CAP Approach
CAP Return
Estimation
6%
$1,655,000
6.5%
$1,530,000
7%
$1,420,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,915,000
Current use
INDUSTRIAL (GENERAL)
$2,935,000
Change: +1% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,795,000
Change: -4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,550,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.73M – $2.12M · ±10% · vs last sale $1.93M (Jun 3 2024)
Last sale anchor
$1.93M
Jun 3 2024
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
$274 / 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
$29,418
Tax year 2023
Assessed value
$1,737,260
Assessed 2023
Previous assessed
$1,637,905
+6.1% YoY
Effective rate
1.69%
On assessed value
Assessed land
$694,611
Assessed improvement
$1,042,649
Land market value
$694,611
Improvement market value
$1,042,649
Total market value
$1,737,260
Applied tax rate
197.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
7,028 SF
Lot
1.04 ac (45,281 SF)
Zoning code
CG
APN
00-42-43-24-06-000-0010
UPID
US18-3977950
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CG · West Palm Beach, FL
Zoning CG · permitted uses
CG · 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
RETAIL STORES Current
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2005
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Direnzo Real Estate Management II L
Entity
Free & Clear · 2 yrs held
Mailing address
122 TILDEN AVE #220, RICHMOND, VT 05477-4400
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2024
$1,925,000
Direnzo Real Estate Management II L
West Palm Aap LLC
Warranty Deed
—
Sep 26, 2019
$1,813,900
West Palm Aap LLC
South Atlantic Military LLC
Special Warranty Deed
$914,000 · Capital City Bank
Feb 7, 2017
—
South Atlantic Military LLC
—
Deed
related
$1,309,500 · Anchor Com'l Bk
Jun 7, 2005
$1,750,000
South Atlantic Military LLC
Ajdc LLC
Grant Deed
$910,000 · Farm Bureau Life Ins Michigan
—
—
South Atlantic Military LLC
—
Deed Of Trust
related
$1,309,500 · Anchor Com'l Bk
—
—
D R Fales
—
Deed Of Trust
related
$34,435 · Wendover Financial Services Co
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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