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Property profile & analytics
OFF-MARKET
Estimated value
$24,525,000
Distribution centers
354 Hiatt Dr, Palm Beach Gardens, FL 33418-7236
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3958392
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1998
Construction
CONCRETE
Total area
74,372 SF
Lot
10.3 ac (448,816 SF)
Zoning code
PCD
APN
52-42-42-15-38-000-0070
UPID
US18-3958392
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
$23.00M
Blend (final)
Blend
$24.53M
Owner & transaction history
Lrp Properties II LLC · 12 yrs held
Lrp Properties II LLC
since 2013
4 recorded transactions
Zoning & alternative use
PCD · Palm Beach Gardens, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$40.2M
+36.1%
Auto repair, garage
$38.3M
+29.4%
Industrial (general)
$31.0M
+5.0%
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 Palm Beach Gardens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Beach Gardens 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
WAREHOUSE, STORAGE
$29,580,000
Current use
MEDICAL BUILDING
$40,245,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$38,275,000
Change: +29% · Conversion: Easy
INDUSTRIAL (GENERAL)
$31,045,000
Change: +5% · Conversion: Easy
RETAIL STORES
$30,860,000
Change: +4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$28,900,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$24.53M
Range $22.07M – $26.98M · ±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
$330 / 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
$418,905
Tax year 2023
Assessed value
$24,283,370
Assessed 2023
Previous assessed
$24,283,370
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$5,385,864
Assessed improvement
$18,897,506
Land market value
$5,385,864
Improvement market value
$18,897,506
Total market value
$24,283,370
Applied tax rate
52,401.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1998
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
74,372 SF
Lot
10.3 ac (448,816 SF)
Zoning code
PCD
APN
52-42-42-15-38-000-0070
UPID
US18-3958392
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
PCD · Palm Beach Gardens, FL
Zoning PCD · permitted uses
PCD · Palm Beach Gardens, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach Gardens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$29.6M
MEDICAL BUILDING
Est. value
$40.2M
AUTO REPAIR, GARAGE
Est. value
$38.3M
INDUSTRIAL (GENERAL)
Est. value
$31.0M
RETAIL STORES
Est. value
$30.9M
COMMERCIAL (GENERAL)
Est. value
$28.9M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
COMMERCIAL (GENERAL)
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
1998
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
10.3 ac
Current owner
From public records · entity-resolved
Lrp Properties II LLC
Entity
Mailing address
360 HIATT DR, PALM BEACH GARDENS, FL 33418-7106
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2013
$6,100,000
Lrp Properties II LLC
Sabadell United Bk NA
Grant Deed
—
Jul 15, 2013
$100
Sabadell United Bk NA
Fask Realty Lllp Coc
Trustees Deed
related
—
—
—
Fask Realty Ltd
—
Deed Of Trust
related
$7,680,000 · Lydian Private Bank
—
—
Fask Realty Lllp
—
Deed Of Trust
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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