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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Office buildings
2412 59th Ter West Park, FL 33023-4051
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US18-8172697
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1972
Construction
CONCRETE
Total area
3,877 SF
Lot
0.41 ac (17,745 SF)
Zoning code
TOC
APN
51-41-24-02-1090
UPID
US18-8172697
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
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$985k
Blend (final)
Blend
$970k
Owner & transaction history
Ram Realty Inv INC · 22 yrs held
Ram Realty Inv INC
since 2003
2 recorded transactions
Zoning & alternative use
TOC · West Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Transit Oriented Corridor
General category
UNKNOWN
Zone area
141.18 ac
Source
Realmo
Top alternative use upside
Medical building
$1.4M
+16.3%
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 West Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Park 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%
$1,330,000
6.5%
$1,230,000
7%
$1,140,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,170,000
Current use
MEDICAL BUILDING
$1,360,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$1,095,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$965,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$250 / 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
Assessed value
$648,290
Assessed 2023
Previous assessed
$612,380
+5.9% YoY
Assessed land
$212,940
Assessed improvement
$435,350
Land market value
$212,940
Improvement market value
$435,350
Total market value
$648,290
Applied tax rate
3,513.0000
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
Off-Market
Year built
1972
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
2
Total area
3,877 SF
Lot
0.41 ac (17,745 SF)
Zoning code
TOC
APN
51-41-24-02-1090
UPID
US18-8172697
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
TOC · West Park, FLZoning TOC · permitted uses
TOC · West Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Transit Oriented Corridor
General category
UNKNOWN
Zone area
141.18 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$965,000
OFFICE BUILDING Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1972
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
Ram Realty Inv INC
Entity
Mailing address
1045 NE 176TH ST, NORTH MIAMI BEACH, FL 33162-1242
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2003
$215,000
Ram Realty Inv INC
Randall,warren
Grant Deed
$110,000 · Yehuda & Yoheved Shechter
—
—
Ram Realty Investments INC
—
Deed Of Trust
related
$300,000 · Bank Of America
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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