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Property profile & analytics
OFF-MARKET
Estimated value
$7,560,000
Banks
280 Palmetto Park Rd, Boca Raton, FL 33432-5014
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-2623168
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1996
Construction
CONCRETE
Total area
9,696 SF
Lot
0.63 ac (27,364 SF)
Zoning code
DDRI
APN
06-43-47-29-01-007-0010
UPID
US18-2623168
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
-
Bank of America Private Client Advisor Heather D Chong Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.56M
Owner & transaction history
280 E Palmetto Park Road LLC · 3 yrs held
280 E Palmetto Park Road LLC
since 2023
Last sale
$9.8M
4 recorded transactions
Zoning & alternative use
DDRI · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.7M
+77.0%
Apartment house (5+ units)
$6.6M
+75.8%
Auto repair, garage
$4.8M
+26.7%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
$7,735,000
ML approach
$6,240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$6,690,000
Change: +77% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,645,000
Change: +76% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,790,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$7.56M
Range $6.80M – $8.32M · ±10% · vs last sale $9.75M (Jun 7 2023)
Last sale anchor
$9.75M
Jun 7 2023
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
$780 / 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
$92,318
Tax year 2023
Assessed value
$5,212,534
Assessed 2023
Previous assessed
$5,177,429
+0.7% YoY
Effective rate
1.77%
On assessed value
Assessed land
$3,139,222
Assessed improvement
$2,073,312
Land market value
$3,139,222
Improvement market value
$2,073,312
Total market value
$5,212,534
Applied tax rate
6,154.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1996
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
9,696 SF
Lot
0.63 ac (27,364 SF)
Zoning code
DDRI
APN
06-43-47-29-01-007-0010
UPID
US18-2623168
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
DDRI · Boca Raton, FL
Zoning DDRI · permitted uses
DDRI · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
AUTO REPAIR, GARAGE
Est. value
$4.8M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1996
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.63 ac
Current owner
From public records · entity-resolved
280 E Palmetto Park Road LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1511 EASTERN AVE, BALTIMORE, MD 21231-2328
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2026
—
280 E Palmetto Park Road LLC
—
Deed
related
$45,000,000 · Maxim Credit Group LLC
Apr 15, 2025
—
280 E Palmetto Park Road LLC
—
Deed
related
$9,000,000 · Maxim Credit Group LLC
Jun 7, 2023
$9,751,000
280 E Palmetto Park Road LLC
Bank Of America
Special Warranty Deed
—
Mar 16, 2000
$1,850,000
Us Trust Co Of Florida Sav Bk
Pouch Terminal INC
Grant Deed
related
—
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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