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Property profile & analytics
OFF-MARKET
Estimated value
$16,310,000
Office buildings
249 Royal Palm Way Palm Beach, FL 33480-4321
Individually Owned
7-yr Hold
Free & Clear
Property ID
US18-4331896
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1970
Construction
STEEL FRAME
Total area
40,874 SF
Lot
1.34 ac (58,283 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-021-0151
UPID
US18-4331896
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
-
Merrill Lynch Wealth Management Advisor Todd Dorschel Financial Advisor
-
Merrill Lynch Wealth Management Financial Advisor
-
Merrill Lynch Financial Advisor Stephen D Polin Financial Advisor
-
Gamco Asset Management Inc Financial Advisor
-
PMV Consumer Acquisition Corporation Holding Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.78M
Comparable Approach
Comparable
$18.96M
Blend (final)
Blend
$16.31M
Owner & transaction history
Carole C Lieff · 7 yrs held
Carole C Lieff
since 2019
5 recorded transactions
Zoning & alternative use
C-OPI · Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$20.2M
+24.5%
Commercial (general)
$19.2M
+18.6%
Retail stores
$16.3M
+0.5%
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 Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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%
$19,260,000
6.5%
$17,780,000
7%
$16,510,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$16,215,000
Current use
AUTO REPAIR, GARAGE
$20,190,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$19,225,000
Change: +19% · Conversion: Easy
RETAIL STORES
$16,300,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$16,150,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$16,110,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$16.31M
Range $14.68M – $17.94M · ±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
$399 / 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
$502,441
Tax year 2023
Assessed value
$32,079,467
Assessed 2023
Previous assessed
$30,430,952
+5.4% YoY
Effective rate
1.57%
On assessed value
Assessed land
$11,388,169
Assessed improvement
$20,691,298
Land market value
$11,388,169
Improvement market value
$20,691,298
Total market value
$32,079,467
Applied tax rate
50,411.0000
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
1970
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
6
Total area
40,874 SF
Lot
1.34 ac (58,283 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-021-0151
UPID
US18-4331896
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-OPI · Palm Beach, FL
Zoning C-OPI · permitted uses
C-OPI · Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$16.2M
AUTO REPAIR, GARAGE
Est. value
$20.2M
COMMERCIAL (GENERAL)
Est. value
$19.2M
RETAIL STORES
Est. value
$16.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.2M
MEDICAL BUILDING
Est. value
$16.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1970
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
6
Buildings
3
Lot
1.34 ac
Current owner
From public records · entity-resolved
Carole C Lieff
Individual
Free & Clear · 7 yrs held
Mailing address
249 ROYAL PALM WAY STE #301, PALM BEACH, FL 33480-4333
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Apr 9, 2021
—
Peabey Associates
—
Deed
related
$100,500,000 · Columbia Bank
Mar 29, 2019
$100
Carole C Lieff
Corpus Christi LLC
Warranty Deed
related
—
Apr 30, 2018
$3,071,321
Corpus Christi LLC
Linder,josephine
Warranty Deed
—
Jun 5, 2017
—
Peabey Associates
—
Loan Modification
related
$11,000,000 · Columbia Bk
—
—
Peabey Associates
—
Deed Of Trust
related
$8,514,063 · Capital One
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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