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Property profile & analytics
OFF-MARKET
Estimated value
$9,570,000
Showrooms
255 22nd Ct Riviera Beach, FL 33404-4582
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-3426466
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2005
Construction
CONCRETE
Total area
43,396 SF
Lot
2.87 ac (124,808 SF)
Zoning code
DM
APN
56-43-42-28-11-001-0010
UPID
US18-3426466
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
$10.14M
Comparable Approach
Comparable
$9.34M
Blend (final)
Blend
$9.57M
Owner & transaction history
Shm New Port Cove LLC · 8 yrs held
Shm New Port Cove LLC
since 2018
3 recorded transactions
Zoning & alternative use
DM · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Downtown Marine
General category
COMMERCIAL
Zone area
39.40 ac
Source
Realmo
Top alternative use upside
Office building
$15.4M
+55.8%
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 Riviera Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riviera 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%
$10,980,000
6.5%
$10,135,000
7%
$9,410,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,860,000
Current use
OFFICE BUILDING
$15,355,000
Change: +56% · Conversion: Easy
Blend value · Realmo final
$9.57M
Range $8.61M – $10.53M · ±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
$221 / 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
$248,876
Tax year 2023
Assessed value
$11,430,430
Assessed 2023
Previous assessed
$10,921,908
+4.7% YoY
Effective rate
2.18%
On assessed value
Assessed land
$9,962,772
Assessed improvement
$1,467,658
Land market value
$9,962,772
Improvement market value
$1,467,658
Total market value
$11,430,430
Applied tax rate
56,407.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Buildings
4
Stories
2
Total area
43,396 SF
Lot
2.87 ac (124,808 SF)
Zoning code
DM
APN
56-43-42-28-11-001-0010
UPID
US18-3426466
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
DM · Riviera Beach, FLZoning DM · permitted uses
DM · Riviera Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Downtown Marine
General category
COMMERCIAL
Zone area
39.40 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.9M
OFFICE BUILDING
Est. value
$15.4M
COMMERCIAL (GENERAL) Current
OFFICE 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
2005
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
4
Lot
2.87 ac
Current owner
From public records · entity-resolved
Shm New Port Cove LLC
Entity
Free & Clear · 8 yrs held
Mailing address
14785 PRESTON RD STE #975, DALLAS, TX 75254-6878
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2025
—
Shm New Port Cove LLC
—
Deed
related
$285,060,000 · Jpmorgan Chase Bank NA
Mar 7, 2018
—
Shm New Port Cove LLC
Old Port Cove Holdings INC
Grant Deed
related
—
Mar 1, 2018
$8,000,000
Shm New Port Cove LLC
Old Port Cove Holdings INC
Grant Deed
—
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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