Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,640,000
Manufacturing properties
3450 Dr Martin Luther King Jr Blvd Riviera Beach, FL 33404-6314
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3117990
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1975
Construction
STEEL FRAME
Total area
21,320 SF
Lot
3.78 ac (164,657 SF)
Zoning code
IG
APN
56-43-42-31-00-000-5090
UPID
US18-3117990
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
$6.79M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.64M
Owner & transaction history
3450 Mlk Partners LLC · 4 yrs held
3450 Mlk Partners LLC
since 2022
Last sale
$6.6M
7 recorded transactions
Zoning & alternative use
IG · Riviera Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.0M
+23.3%
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 Riviera Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riviera 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
$6,670,000
ML approach
$6,790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,900,000
Current use
AUTO REPAIR, GARAGE
$10,975,000
Change: +23% · Conversion: Easy
RETAIL STORES
$8,845,000
Change: -1% · Conversion: Moderate
OFFICE BUILDING
$7,545,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$6.64M
Range $5.98M – $7.30M · ±10% · vs last sale $6.55M (Jun 2 2022)
Last sale anchor
$6.55M
Jun 2 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
$311 / 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
$77,859
Tax year 2023
Assessed value
$3,523,829
Assessed 2023
Previous assessed
$2,296,302
+53.5% YoY
Effective rate
2.21%
On assessed value
Assessed land
$1,911,273
Assessed improvement
$1,612,556
Land market value
$1,911,273
Improvement market value
$1,612,556
Total market value
$3,523,829
Applied tax rate
56,407.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1975
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Rooms
1
Total area
21,320 SF
Lot
3.78 ac (164,657 SF)
Zoning code
IG
APN
56-43-42-31-00-000-5090
UPID
US18-3117990
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
IG · Riviera Beach, FL
Zoning IG · permitted uses
IG · Riviera Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riviera Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$11.0M
RETAIL STORES
Est. value
$8.8M
OFFICE BUILDING
Est. value
$7.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE 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
1975
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Rooms
1
Lot
3.78 ac
Current owner
From public records · entity-resolved
3450 Mlk Partners LLC
Entity
Mailing address
414 S 16TH ST STE #100, PHILADELPHIA, PA 19146-1989
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
—
3450 Mlk Partners LLC
—
Deed
related
$7,700,000 · Invesco Cmi Investments Mm LLC
Jun 2, 2022
$6,550,000
3450 Mlk Partners LLC
Dwa Metals LLC
Special Warranty Deed
—
Aug 11, 2016
—
Dwa Metals LLC
—
Deed
related
$1,200,000 · Bankunited Fsb
Aug 18, 2015
$1,850,000
Dwa Metals LLC
3450 Mlk Blvd LLC
Grant Deed
$1,480,000 · First Bk/the Palm Beaches
May 20, 2013
—
3450 Mlk Blvd LLC
Sease,wallace C
Grant Deed
related
—
Feb 26, 2010
$300,000
3450 Mlk Blvd LLC
Sease,wallace C & Gloria C
Warranty Deed
—
May 24, 2005
—
Sease Wallace C Tr
—
Trustees Deed
related
$500,000 · Grand Bank & Trust Of Florida
—
—
Dwa Metals LLC
—
Deed Of Trust
related
$1,200,000 · Bankunited Fsb
—
—
Wallace C Sease
—
Deed Of Trust
related
$300,000 · Grand Bank & Trust Of Florida
—
—
Sease Gloria C Family Trust
—
Deed Of Trust
related
$500,000 · First Southern Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3450 Dr Martin Luther King Jr Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
