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    Property profile & analytics

    2915 Northlake Blvd West Palm Beach, FL 33403-1909

    • Grocery and convenience stores
    • 2,736 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    7.7%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US18-4679390
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • U-Haul Neighborhood Dealer / Car Rental Facility
    • UPS Access Point location / Courier Service / Postal Service
    • Moving Smart Company / Freight Service / Logistics Company
    • Exxon / Gas Station
    • CAM transfer @ polowireless / Bank / Credit Union

    Property Details for 2915 Northlake Blvd

    Year built
    1984
    Construction
    CONCRETE
    Lot size
    0.46 lot acres
    Property size
    2,736 SF
    Zone code
    CG
    Property type
    Grocery and convenience stores
    APN
    00-43-42-17-02-010-0070
    APU
    434217020100070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $735,000
      6.5%
      $680,000
      7%
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $410,000
      Market price range: $410k - $912k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $805,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0806
    Latitude
    26.8086
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $19,469
    $589,000
    $399,399
    $988,399
    -
    $589,000
    $399,399
    $988,399

    Comparable in this City

    • Value Estimation
      $2,600,000
      16,934 SF

      220 Congress Ave

      GROCERY, SUPERMARKET • 16,934 SF
      220 Congress Ave, Lake Park, FL 33403-3807
      View Details
    • Value Estimation by Request
      1,764 SF

      140 Us Hwy 1st 1

      CONVENIENCE STORE • 1,764 SF
      140 Us Hwy 1st 1, Lake Park, FL 33403-3550
      View Details
    • Value Estimation
      $660,000
      2,634 SF

      903 Park Ave

      CONVENIENCE STORE • 2,634 SF
      903 Park Ave, Lake Park, FL 33403-2403
      View Details
    • Value Estimation
      $700,000
      2,787 SF

      9377 Hwy 1st Alt

      CONVENIENCE STORE • 2,787 SF
      9377 Hwy 1st Alt, West Palm Beach, FL 33403-1438
      View Details
    • Value Estimation
      $1,250,000
      5,980 SF

      200 Congress Ave

      CONVENIENCE STORE • 5,980 SF
      200 Congress Ave, Lake Park, FL 33403-3807
      View Details
    • Value Estimation by Request
      1,776 SF

      3905 Northlake Blvd

      CONVENIENCE STORE • 1,776 SF
      3905 Northlake Blvd, Palm Beach Gardens, FL 33403-1504
      View Details

    Similar Nearby for Sale

    • $2,150,000

      Lake Park Retail Building For Sale

      Retail building in Lake Park with recent updates.
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      Established Restaurant and Bar Property

      High-visibility restaurant and bar with land ownership for sale.
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    • New
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      8,931 SF

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      Retail property in the heart of Lake Park's downtown district.
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    • New
      $480,000
      1,078 SF

      Versatile Commercial Condo with Storage

      1,100 SF commercial condo ideal for storage or small business.
      1209 Gateway Rd, Lake Park, FL 33403
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    • $2,500,000

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      Fully renovated 8-unit multifamily property near Downtown West Palm Beach.
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      Two renovated homes on one lot, ideal for rentals.
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    Similar Nearby for Lease

    • $2,100 /Mo
      7,000 SF

      Corner Unit with Private Offices

      Corner unit with offices, reception, and new impact windows.
      900 Federal Hwy Hwy, Lake Park, FL 33403
      View Details
    • $29 SF/Yr

      Retail/Office Space in Lake Park

      Retail/office space with recent improvements and high-traffic location.
      801 Federal Hwy, Lake Park, FL 33403
      View Details
    • $15 SF/Yr
      23,760 SF

      Lake Park Retail Plaza

      Prime Retail Space, Lake Park, FL
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      View Details
    • $38 SF/Yr
      113,752 SF

      Jupiter Retail Center Investment Opportunity

      Prime Jupiter retail space, multiple units available.
      131 Alternate A1A, Jupiter, FL 33403
      View Details
    • Contact for pricing
      123,556 SF

      Northlake Commons Retail Center

      Prime Palm Beach Gardens Retail Space
      3950 Northlake Blvd, Palm Beach Gardens, FL 33403
      View Details
    • $0.03 SF/Yr
      8,931 SF

      Prime Retail Space, Lake Park

      8,900 SF Retail, 32 Parking Spaces
      810 Park Ave, Lake Park, FL 33403
      View Details
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    West Palm Beach, FL 33403-1909
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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