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Property profile & analytics
FOR SALE
Strip malls
3111 45Th St West Palm Beach, FL 33407
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4587152
For Sale
1 / 21
$6,120,000
3111 45Th St, West Palm Beach, FL 33407
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Property summary
AI-generated overview
This exceptional 2,421 square foot retail space is ideally located at 3111 45th Street in West Palm Beach, Florida, zip code 33407. The property is a single-tenant building, perfect for a variety of retail businesses. It's zoned CPD and features on-site signage opportunities visible from 45th Street. The lot size is not specified. The property's APN is 74424301170000071. This is a NNN lease, meaning the tenant is responsible for base rent, common area maintenance (CAM), and annual property taxes. This translates to predictable and manageable operating expenses for the tenant. The property's convenient location in West Palm Beach offers excellent visibility and accessibility for customers. This presents a unique opportunity for a business seeking a well-situated, single-tenant retail space with strong signage potential. The property is ready for immediate occupancy. Interested parties should inquire about lease terms and conditions. The property's latitude and longitude coordinates are 26.7605942 and -80.1012414 respectively.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
CONCRETE
Total area
24,251 SF
Lot
4.39 ac (191,246 SF)
Zoning code
CPD
APN
74-42-43-01-17-000-0071
UPID
US18-4587152
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
-
Lucky Coins (Bike/Boat/Book/etc) Store
-
Family Dental Care Dental Office
-
Dr. Michael C. Westcott, DDS Dental Office
-
Accident Doctor Group Doctor Medical Clinic
-
Dr. Sujay Trivedi, General & Cosmetic Dentist Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.99M
CAP Approach
CAP
$6.03M
Comparable Approach
Comparable
$4.03M
Blend (final)
Blend
$6.12M
Owner & transaction history
Blake S T Plaza LLC · 5 yrs held
Blake S T Plaza LLC
since 2021
Last sale
$5.3M
7 recorded transactions
Zoning & alternative use
CPD · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$10.1M
+41.8%
Retail stores
$10.1M
+41.0%
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
$6,985,000
ML approach
$6,990,000
CAP Approach
CAP Return
Estimation
6%
$6,530,000
6.5%
$6,030,000
7%
$5,600,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,140,000
Current use
INDUSTRIAL (GENERAL)
$10,125,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$10,065,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$6.12M
Range $5.51M – $6.73M · ±10% · vs last sale $5.30M (Jun 7 2021)
Last sale anchor
$5.30M
Jun 7 2021
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
$252 / 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
$111,458
Tax year 2023
Assessed value
$4,903,759
Assessed 2023
Previous assessed
$4,683,468
+4.7% YoY
Effective rate
2.27%
On assessed value
Assessed land
$2,208,891
Assessed improvement
$2,694,868
Land market value
$2,208,891
Improvement market value
$2,694,868
Total market value
$4,903,759
Applied tax rate
74,407.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
1989
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
24,251 SF
Lot
4.39 ac (191,246 SF)
Zoning code
CPD
APN
74-42-43-01-17-000-0071
UPID
US18-4587152
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FL
Zoning CPD · permitted uses
CPD · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.1M
INDUSTRIAL (GENERAL)
Est. value
$10.1M
RETAIL STORES
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1989
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
4.39 ac
Current owner
From public records · entity-resolved
Blake S T Plaza LLC
Entity
Mailing address
1232 ROYAL PALM BCH BLVD, ROYAL PALM BEACH, FL 33411-1602
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2021
—
Blake S T Plaza LLC
—
Deed
related
$3,975,000 · Velocity Commercial Capital LLC
Jun 7, 2021
$5,300,000
Blake S T Plaza LLC
Palamad LLC
Warranty Deed
$2,800,000 · Taylor Made Lending LLC
Mar 7, 2018
$4,950,000
Palamad LLC
Marini Realty Of Florida LLC
Warranty Deed
$2,970,000 · Iberiabank Fsb
Oct 30, 2014
—
Marini Realty Of Florida LLC
—
Grant Deed
related
$3,900,000 · Bank Of America
Aug 27, 2014
—
Marini Realty Of Florida LLC
Inhaven LLC
Quit Claim Deed
related
—
Jun 20, 2011
$3,276,925
Inhaven LLC
North Village Realty LLC
Warranty Deed
—
May 13, 2004
$3,900,000
North Village Realty LLC
Johnson,steve
Grant Deed
$2,700,000 · Lasalle National Bank
May 7, 1998
$1,600,000
Johnson,steve
Skw II Real Estae LP
Trustees Deed
—
—
—
Steven J Johnson
—
Deed Of Trust
related
$1,200,000 · Fidelity Fsb 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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