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Property profile & analytics
OFF-MARKET
Estimated value
$5,525,000
Hotels
2809 Ocean Blvd Highland Beach, FL 33487-1829
Trust Owned
7-yr Hold
Free & Clear
Property ID
US18-5409857
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1970
Construction
CONCRETE
Total area
12,347 SF
Lot
1.49 ac (64,948 SF)
Zoning code
RMM
APN
24-43-46-33-00-001-0040
UPID
US18-5409857
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
by Request
Comparable Approach
Comparable
$7.17M
Blend (final)
Blend
$5.53M
Owner & transaction history
Montgomery,joel W & Sarah K Trust · 7 yrs held
Montgomery,joel W & Sarah K Trust
since 2019
2 recorded transactions
Zoning & alternative use
RMM · Highland Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.5M
+64.8%
Apartment house (5+ units)
$8.5M
+63.6%
Auto repair, garage
$6.1M
+17.9%
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 Highland Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,175,000
Current use
RESTAURANT
$8,520,000
Change: +65% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,465,000
Change: +64% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,100,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$4,925,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,880,000
Change: -6% · Conversion: Difficult
MEDICAL BUILDING
$4,865,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$5.53M
Range $4.97M – $6.08M · ±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
$447 / 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
$280,722
Tax year 2023
Assessed value
$19,818,122
Assessed 2023
Previous assessed
$16,775,154
+18.1% YoY
Effective rate
1.42%
On assessed value
Assessed land
$17,500,000
Assessed improvement
$2,318,122
Land market value
$17,500,000
Improvement market value
$2,318,122
Total market value
$19,818,122
Applied tax rate
24,984.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1970
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
12,347 SF
Lot
1.49 ac (64,948 SF)
Zoning code
RMM
APN
24-43-46-33-00-001-0040
UPID
US18-5409857
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RMM · Highland Beach, FL
Zoning RMM · permitted uses
RMM · Highland Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Highland Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$5.2M
RESTAURANT
Est. value
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RETAIL STORES
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.9M
HOTEL/MOTEL Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
1.49 ac
Current owner
From public records · entity-resolved
Montgomery,joel W & Sarah K Trust
Trust
Free & Clear · 7 yrs held
Mailing address
720 NE 69TH ST APT 17N, MIAMI, FL 33138-5758
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2019
$100
Montgomery,joel W & Sarah K Trust
Joel W Montgomery
Warranty Deed
related
—
Oct 29, 2012
—
Kappel James S & Debra Trust
Kappel,james S
Quit Claim 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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