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Property profile & analytics
OFF-MARKET
Estimated value
$26,025,000
High-rise multifamily apartments
2882 10th Clb Dr, West Palm Beach, FL 33417-2856
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US18-4553389
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1982
Construction
CONCRETE
Total area
64,260 SF
Lot
17.87 ac (778,522 SF)
Zoning code
RM
APN
00-42-43-24-15-001-0010
UPID
US18-4553389
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
$17.21M
Comparable Approach
Comparable
$31.72M
Blend (final)
Blend
$26.03M
Owner & transaction history
Richbuilt Of Palm Beach INC · 9 yrs held
Richbuilt Of Palm Beach INC
since 2016
3 recorded transactions
Zoning & alternative use
RM · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 West Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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%
$18,640,000
6.5%
$17,205,000
7%
$15,975,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$38,270,000
Current use
MEDICAL BUILDING
$34,775,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$33,070,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$26.03M
Range $23.42M – $28.63M · ±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
$405 / 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
$719,575
Tax year 2023
Assessed value
$46,036,571
Assessed 2023
Previous assessed
$44,061,143
+4.5% YoY
Effective rate
1.56%
On assessed value
Assessed land
$9,057,600
Assessed improvement
$36,978,971
Land market value
$9,057,600
Improvement market value
$36,978,971
Total market value
$46,036,571
Applied tax rate
197.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
7
Stories
7
Units
60
Total area
64,260 SF
Lot
17.87 ac (778,522 SF)
Zoning code
RM
APN
00-42-43-24-15-001-0010
UPID
US18-4553389
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RM · West Palm Beach, FL
Zoning RM · permitted uses
RM · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$38.3M
MEDICAL BUILDING
Est. value
$34.8M
AUTO REPAIR, GARAGE
Est. value
$33.1M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1982
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
7
Buildings
7
Units
60
Lot
17.87 ac
Current owner
From public records · entity-resolved
Richbuilt Of Palm Beach INC
Entity
Mailing address
2882 10TH CLB DR, WEST PALM BEACH, FL 33417-2856
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Sep 2, 2016
—
Richbuilt Of Palm Beach INC
—
Deed
related
$35,475,000 · Berkadia Com'l Mtg
—
—
Richbuilt Of Palm Beach INC
—
Deed Of Trust
related
$20,000,000 · Wells Fargo Bk
—
—
Richbuilt Of Palm Beach INC
—
Loan Modification
related
$35,475,000 · Berkadia Com'l Mtg
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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