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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Grocery and convenience stores
242 Congress Ave West Palm Beach, FL 33406-3023
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US18-1087007
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2007
Construction
WOOD
Total area
5,160 SF
Lot
2.25 ac (97,914 SF)
Zoning code
UC
APN
00-43-44-05-23-000-0013
UPID
US18-1087007
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
-
Junior's Hero Shop Take-out & Catering
-
Dunkin' Cafe & Coffee Shop
-
Shell Grocery & Convenience Store
-
ATM Atm Cars
-
Maria's cafe &subs Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$1.11M
Owner & transaction history
Scotts Gas LLC · 16 yrs held
Scotts Gas LLC
since 2009
7 recorded transactions
Zoning & alternative use
UC · West 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,390,000
6.5%
$1,285,000
7%
$1,190,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,520,000
Current use
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±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
$215 / 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
$64,965
Tax year 2023
Assessed value
$3,562,552
Assessed 2023
Previous assessed
$3,450,068
+3.3% YoY
Effective rate
1.82%
On assessed value
Assessed land
$2,038,611
Assessed improvement
$1,523,941
Land market value
$2,038,611
Improvement market value
$1,523,941
Total market value
$3,562,552
Applied tax rate
362.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2007
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
5,160 SF
Lot
2.25 ac (97,914 SF)
Zoning code
UC
APN
00-43-44-05-23-000-0013
UPID
US18-1087007
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
UC · West Palm Beach, FL
Zoning UC · permitted uses
UC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2007
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
2.25 ac
Current owner
From public records · entity-resolved
Scotts Gas LLC
Entity
Mailing address
242 S CONGRESS AVE, WEST PALM BEACH, FL 33406-3023
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2017
—
Scotts Gas LLC
—
Deed
related
$3,850,000 · Palm Bch Cmnty Bk
Sep 30, 2009
$4,000,000
Scotts Gas LLC
Airport South 242 LLC
Warranty Deed
$3,500,000 · Grand Bank & Trust Of Florida
Jul 27, 2009
$2,400,000
David Steiner
Gkl LLC
Warranty Deed
—
Jul 27, 2009
—
Airport South 242 LLC
Steiner,david
Quit Claim Deed
related
—
Sep 24, 2007
—
Gkl LLC
—
Trustees Deed
related
$2,400,000 · David Steiner
Jun 27, 2006
—
Gkl LLC
Owner,record
Warranty Deed
related
—
Sep 6, 2005
$1,600,000
5770 LLC
Ranch House Properties INC
Warranty Deed
$1,250,000 · Cypress Trust Company (te)
—
—
Scotts Gas LLC
—
Deed Of Trust
related
$3,850,000 · Palm Bch Cmnty Bk
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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