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Property profile & analytics
OFF-MARKET
Estimated value
$9,950,000
Office buildings
340 Royal Palm Way Palm Beach, FL 33480-4307
Entity Owned
4-yr Hold
Free & Clear
Property ID
US19-0701795
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1974
Construction
STEEL FRAME
Total area
21,632 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-024-0460
UPID
US19-0701795
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
-
Mettler Shelton Randolph Law Firm
-
Massey Tammie B Law Firm
-
CIBC Banking Center Bank Loan Service
-
CapTech Consultant
-
Mettler Randolph Massey Ferguson Carroll & Sterlacci P.L. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.58M
CAP Approach
CAP
$9.41M
Comparable Approach
Comparable
$7.95M
Blend (final)
Blend
$9.95M
Owner & transaction history
Cspb 340 LLC · 4 yrs held
Cspb 340 LLC
since 2022
Last sale
$12.7M
5 recorded transactions
Zoning & alternative use
C-OPI · Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.9M
+74.0%
Apartment house (5+ units)
$14.8M
+72.8%
Auto repair, garage
$10.7M
+24.5%
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 Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$12,190,000
ML approach
$9,575,000
CAP Approach
CAP Return
Estimation
6%
$10,195,000
6.5%
$9,410,000
7%
$8,735,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,580,000
Current use
RESTAURANT
$14,930,000
Change: +74% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$14,830,000
Change: +73% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,685,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,175,000
Change: +19% · Conversion: Easy
RETAIL STORES
$8,625,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$8,545,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$8,525,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$9.95M
Range $8.96M – $10.95M · ±10% · vs last sale $12.71M (Apr 18 2022)
Last sale anchor
$12.71M
Apr 18 2022
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
$460 / 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
$211,686
Tax year 2023
Assessed value
$13,452,236
Assessed 2023
Previous assessed
$12,328,430
+9.1% YoY
Effective rate
1.57%
On assessed value
Assessed land
$4,930,816
Assessed improvement
$8,521,420
Land market value
$4,930,816
Improvement market value
$8,521,420
Total market value
$13,452,236
Applied tax rate
50,411.0000
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
1974
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Total area
21,632 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-024-0460
UPID
US19-0701795
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-OPI · Palm Beach, FL
Zoning C-OPI · permitted uses
C-OPI · Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.6M
RESTAURANT
Est. value
$14.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.8M
AUTO REPAIR, GARAGE
Est. value
$10.7M
COMMERCIAL (GENERAL)
Est. value
$10.2M
RETAIL STORES
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.5M
MEDICAL BUILDING
Est. value
$8.5M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1974
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
Cspb 340 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1501 BROADWAY #17, NEW YORK, NY 10036-5601
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2022
$12,711,900
Cspb 340 LLC
340 350 Royal Palm LLC
Special Warranty Deed
—
Jun 28, 2018
—
340-350 Royal Palm LLC
—
Loan Modification
related
$15,800,000 · Pfp Holding Co V LLC
Jul 17, 2013
$21,850,000
340-350 Royal Palm LLC
Scm Royal Palm Investors LLC
Grant Deed
related
$15,000,000 · Bank United
Mar 1, 2007
$9,450,000
Scm Royal Palm Investors LLC
Tic 3401 LLC
Grant Deed
—
Nov 6, 2003
$4,320,000
Tic 3401 LLC
Matapedia LP
Grant Deed
$4,270,000 · Farm Bureau Life Insurance
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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