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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Office buildings
2602 Park St Lake Worth, FL 33460-6142
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-3230331
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1950
Construction
CONCRETE
Total area
3,424 SF
Lot
0.34 ac (14,906 SF)
Zoning code
AI
APN
38-43-44-16-22-000-0050
UPID
US18-3230331
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
$1.27M
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.26M
Owner & transaction history
Mcr Lake Worth Industrial LLC · 4 yrs held
Mcr Lake Worth Industrial LLC
since 2022
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
AI · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+27.6%
Medical building
$1.4M
+22.2%
Neighborhood: shopping center
$1.2M
+12.8%
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 Lake Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth 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
$1,200,000
ML approach
$1,265,000
CAP Approach
CAP Return
Estimation
6%
$1,615,000
6.5%
$1,490,000
7%
$1,385,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,105,000
Current use
AUTO REPAIR, GARAGE
$1,410,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$1,350,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,245,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$985,000
Change: -11% · Conversion: Moderate
WAREHOUSE, STORAGE
$950,000
Change: -14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$900,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $1.25M (May 31 2022)
Last sale anchor
$1.25M
May 31 2022
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
$368 / 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
$18,279
Tax year 2023
Assessed value
$748,907
Assessed 2023
Previous assessed
$579,028
+29.3% YoY
Effective rate
2.44%
On assessed value
Assessed land
$196,189
Assessed improvement
$552,718
Land market value
$196,189
Improvement market value
$552,718
Total market value
$748,907
Applied tax rate
38,453.0000
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
1
Bathrooms
1
Total area
3,424 SF
Lot
0.34 ac (14,906 SF)
Zoning code
AI
APN
38-43-44-16-22-000-0050
UPID
US18-3230331
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
AI · Lake Worth, FL
Zoning AI · permitted uses
AI · Lake Worth, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$985,000
WAREHOUSE, STORAGE
Est. value
$950,000
COMMERCIAL (GENERAL)
Est. value
$900,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Rooms
1
Bathrooms
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Mcr Lake Worth Industrial LLC
Entity
Mailing address
2116 W CORNELL ST, MILWAUKEE, WI 53209-6318
Ownership since
2022
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
May 31, 2022
$1,250,000
Mcr Lake Worth Industrial LLC
Akproperties Holdings LLC
Warranty Deed
$1,000,000 · First Citizens Bank & Trust Co
Jul 9, 2011
—
Akproperties Holdings LLC
Koch,robert F & Carol A
Grant Deed
—
—
—
Robert F Koch
—
Deed Of Trust
related
$50,000 · Suntrust Bank South Florida
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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