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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Banks
240 Palmetto Park Rd 5 Boca Raton, FL 33432-3761
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US19-0032448
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1979
Construction
CONCRETE BLOCKS
Total area
1,574 SF
APN
06-43-47-30-43-000-0050
UPID
US19-0032448
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
-
Boca Raton Tribune Publishing House Newspaper & Magazine
-
Law Offices of Rina Feld Law Firm
-
Prema Behavioral Services INC Crisis Center Medical Clinic
-
Make It Happen Bake Supplies Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$486k
Blend (final)
Blend
$510k
Owner & transaction history
Lava Associates LLC · 4 yrs held
Lava Associates LLC
since 2022
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$775,000
+26.7%
Retail stores
$630,000
+2.3%
Neighborhood: shopping center
$620,000
+1.3%
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
$535,000
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$615,000
Current use
AUTO REPAIR, GARAGE
$775,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$630,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$620,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$620,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$570,000
Change: -7% · Conversion: Difficult
WAREHOUSE, STORAGE
$540,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $525k (Jun 27 2022)
Last sale anchor
$525k
Jun 27 2022
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
$324 / 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
$9,013
Tax year 2023
Assessed value
$478,497
Assessed 2023
Previous assessed
$322,671
+48.3% YoY
Effective rate
1.88%
On assessed value
Assessed improvement
$478,497
Improvement market value
$478,497
Total market value
$478,497
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1979
Construction
CONCRETE BLOCKS
Heating
NONE
Total area
1,574 SF
APN
06-43-47-30-43-000-0050
UPID
US19-0032448
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$775,000
RETAIL STORES
Est. value
$630,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$620,000
MEDICAL BUILDING
Est. value
$620,000
OFFICE BUILDING
Est. value
$570,000
WAREHOUSE, STORAGE
Est. value
$540,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1979
Construction
CONCRETE BLOCKS
Heating
NONE
Current owner
From public records · entity-resolved
Lava Associates LLC
Entity
Mailing address
20281 E COUNTRY CLB DR APT #405, MIAMI, FL 33180-3025
Ownership since
2022
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
Jun 27, 2022
$525,000
Lava Associates LLC
Sohab LLC
Warranty Deed
—
May 2, 2008
$370,000
Sohab LLC
Payroll Professionals INC
Warranty Deed
—
Mar 4, 2002
—
Computer Business Services INC
Fenick,agina J
Quit Claim Deed
related
—
—
—
Sohab LLC
—
Deed Of Trust
related
$348,500 · Ironstone Bank
—
—
Sohab LLC
—
Deed Of Trust
related
$280,000 · Fifth Third Bank
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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