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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Office buildings
320 Us Hwy 1st 1 Lake Park, FL 33403-3583
Individually Owned
24-yr Hold
Free & Clear
Property ID
US18-4459850
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1968
Construction
CONCRETE
Total area
2,958 SF
Lot
0.26 ac (11,273 SF)
Zoning code
MU
APN
36-43-42-20-01-039-0370
UPID
US18-4459850
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
$789k
Blend (final)
Blend
$790k
Owner & transaction history
Roger King · 24 yrs held
Roger King
since 2002
2 recorded transactions
Zoning & alternative use
MU · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zoning district is to encourage transit use as an alternative to auto dependency by accommodating moderate to high intensity, compact, mixed use, and pedestrian-oriented development within convenient walking distance of existing and planned rail stations, major transit corridors, major transit hubs, regional and neighborhood transit hubs,…
Zone name
Mixed Use
General category
MIXED_USE
Zone area
81.12 ac
Source
Realmo
Top alternative use upside
Retail stores
$1.2M
+17.3%
Commercial (general)
$1.2M
+9.8%
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 Lake Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Park 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
OFFICE BUILDING
$1,045,000
Current use
RETAIL STORES
$1,225,000
Change: +17% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,150,000
Change: +10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$267 / 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
$5,697
Tax year 2023
Assessed value
$462,586
Assessed 2023
Previous assessed
$439,298
+5.3% YoY
Effective rate
1.23%
On assessed value
Assessed land
$163,895
Assessed improvement
$298,691
Land market value
$163,895
Improvement market value
$298,691
Total market value
$462,586
Applied tax rate
36,507.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,958 SF
Lot
0.26 ac (11,273 SF)
Zoning code
MU
APN
36-43-42-20-01-039-0370
UPID
US18-4459850
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MU · Lake Park, FLZoning MU · permitted uses
MU · Lake Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zoning district is to encourage transit use as an alternative to auto dependency by accommodating moderate to high intensity, compact, mixed use, and pedestrian-oriented development within convenient walking distance of existing and planned rail stations, major transit corridors, major transit hubs, regional and neighborhood transit hubs, and high-priority corridors for bus rapid transit or high performance transit.
Zone name
Mixed Use
General category
MIXED_USE
Zone area
81.12 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1968
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Roger King
Individual
Free & Clear · 24 yrs held
Mailing address
4240 GARDENIA DR, PALM BEACH GARDENS, FL 33410-5435
Ownership since
2002
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
May 15, 2002
—
Roger King
Barbara R Hill Estate
Grant Deed
related
—
—
—
Roger P King
—
Deed Of Trust
related
$44,000 · Ronald A & Teresa K King
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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