Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    245 S Military Trl West Palm Beach, FL 33415
    Back to Search
    Property profile & analytics

    245 S Military Trl, West Palm Beach, FL 33415

    View on Map
    • Drug stores
    • 14,556 SF
    • 1.82 lot acres
    For Sale
    $6,100,000
    View Listing →
    West Palm Beach CVS Asset For Sale
    $6,100,000
    12,739 SF

    West Palm Beach CVS Asset

    12,739 SF CVS on 1.82 acres for sale.

    245 S Military Trl, West Palm Beach, FL
    View Listing
    Property ID
    US18-4164081
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    3.3%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • CVS Pharmacy / Pharmacy
    • CVS / Pharmacy
    • MoneyGram / Bank / Credit Union
    • Citibank ATM / Atm
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 245 S Military Trl

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    1.82 lot acres
    Zone code
    UC
    Property type
    Drug stores
    APN
    00-42-44-01-27-002-0010
    APU
    424401270020010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 14, 2022 $5,800,000 Argo Deer Valley LLC Kundalini Corp Warranty Deed $3.5M · Wells Fargo Bank NA
    Dec 2, 2019 $5,150,000 Kundalini Corp College Shops LLC Grant Deed —
    Dec 1, 2016 — College Shops LLC — Deed · related $4.3M · Legacy Bk/fl
    Aug 28, 2006 $4,800,000 College Shops LLC Graybill,becky J Warranty Deed —
    — — College Shops LLC — Deed Of Trust · related $2.8M · Ids Life Insurance Co
    — — College Shops LLC — Deed Of Trust · related $4.3M · Legacy Bk/fl

    Description

    This exceptional investment opportunity presents a 12,739 square foot CVS Pharmacy located at 245 South Military Trail, West Palm Beach, Florida, 33415. The property sits on a 1.82-acre lot at a highly trafficked signalized intersection, boasting an absolute NNN lease with a corporate guarantee from CVS Health, a Fortune 500 company. The lease, originally commencing February 1, 2002, has a remaining term of approximately two years, with five 5-year options remaining, each including a 2% rent increase. The current asking price is $6,100,000, representing a price per square foot of $478.84 and a 5.11% cap rate. The property's Net Operating Income (NOI) is $311,446, reflecting a 100% occupancy rate. Built in 2002, this strategically located retail asset benefits from its proximity to major employers, substantial residential areas, and numerous established retailers within a one-mile radius, including The Mall at Wellington Green and other prominent brands. The location enjoys high consumer spending on healthcare within a five-mile radius, exceeding $165 million annually, serving a population exceeding 334,988. This investment offers a secure, high-yield opportunity with a strong tenant and significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,310,000
      ML approach
      $6,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,775,000
      Market price range: $3.40M - $8.88M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $6,040,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $8,670,000
      Change: +44% Conversion: Difficult
      MEDICAL BUILDING
      $7,875,000
      Change: +30% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,490,000
      Change: +24% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $6,075,000
      Change: +1% Conversion: Difficult
      WAREHOUSE, STORAGE
      $5,790,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,655,000
      Change: -6% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.113
    Latitude
    26.6741
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $62,708
    $1,571,657
    $2,052,734
    $3,624,391
    -
    $1,571,657
    $2,052,734
    $3,624,391

    Comparable in this City

    • Value Estimation
      $3,280,000
      14,971 SF

      963 Military Trl

      DRUG STORE, PHARMACY
      963 Military Trl, West Palm Beach, FL 33415-3909
      View Details
    • Value Estimation
      $1,855,000
      12,620 SF

      5044 Frst Hl Blvd

      DRUG STORE, PHARMACY
      5044 Frst Hl Blvd, West Palm Beach, FL 33415-5626
      View Details
    • Value Estimation
      $2,820,000
      14,280 SF

      2187 Military Trl

      DRUG STORE, PHARMACY
      2187 Military Trl, West Palm Beach, FL 33415-6453
      View Details
    • Value Estimation by Request
      15,600 SF

      209 Military Trl

      Lifestyle centers
      209 Military Trl, West Palm Beach, FL 33415
      View Details
    • Value Estimation by Request
      0.18 Acres

      2011 Kudza Rd

      RETAIL STORES (PERSONAL SERVICES)
      2011 Kudza Rd, West Palm Beach, FL 33415
      View Details
    • Value Estimation
      $660,000
      3,404 SF

      1747 Military Trl

      RETAIL STORES (PERSONAL SERVICES)
      1747 Military Trl, West Palm Beach, FL 33415-6401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,739 SF

      West Palm Beach CVS Asset

      12,739 SF CVS on 1.82 acres for sale.
      245 S Military Trl, West Palm Beach, FL 33415
      View Details
    • Contact for pricing

      Commercial Property Near Airport

      Prime commercial property near Palm Beach International Airport.
      N Military Trl, West Palm Beach, FL 33415
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center For Sale

      Fully leased 102,900 SF shopping center in West Palm Beach.
      4645 Gun Club Rd, West Palm Beach, FL 33415
      View Details
    • $3,450,000
      1.14 Acres

      West Palm Beach Retail Assemblage

      1.14-acre retail development site with income and utilities.
      1370 S Military Trl, West Palm Beach, FL 33415
      View Details
    • Contact for pricing

      1370 S Military Trl, West Palm Beach, FL 33415

      Commercial land
      1370 S Military Trl, West Palm Beach, FL 33415
      View Details
    • Contact for pricing

      Endcap Storefront Space For Sale

      Endcap storefront suitable for restaurant use with existing infrastructure.
      4-2845 N Military Trl, West Palm Beach, FL 33415
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,536 SF

      Retail Space on Southern Blvd

      Retail space available for lease in West Palm Beach.
      4911-4935 Southern Blvd, West Palm Beach, FL 33415
      View Details
    • Contact for pricing
      5,950 SF

      Retail Space in Greenacres, FL

      Retail space available in high-traffic Greenacres location.
      6300-6376 Forest Hill Blvd, Greenacres, FL 33415
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces for rent in Greenacres, Florida.
      6300 Forest Hill Blvd, Greenacres, FL 33415
      View Details
    • $3,676 /Mo

      Versatile Space in High-Traffic Location

      Adaptable commercial space suitable for various business types.
      1490 S Military Trl, West Palm Beach, FL 33415
      View Details
    • Contact for pricing
      89,000 SF

      Prime Retail Space Available

      Located in the heart of Palm Beach County.
      4560 Forest Hill Blvd, West Palm Beach, FL 33415
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in West Palm Beach.
      4560 Forest Hill Blvd, West Palm Beach, FL 33415
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    245 S Military Trl
    West Palm Beach, FL 33415
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 S Military Trl, West Palm Beach, FL, 33415
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!