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Property profile & analytics
OFF-MARKET
Estimated value
$13,975,000
High-rise multifamily apartments
3611 Flagler Dr, West Palm Beach, FL 33405-1970
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US19-0747303
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2022
Construction
STEEL FRAME
Total area
17,780 SF
Lot
0.43 ac (18,827 SF)
Zoning code
MF32
APN
74-43-43-34-00-000-0043
UPID
US19-0747303
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
$14.80M
Blend (final)
Blend
$13.98M
Owner & transaction history
3611 S Flagler LLC · 2 yrs held
3611 S Flagler LLC
since 2023
Last sale
$16.9M
7 recorded transactions
Zoning & alternative use
MF32 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.6M
+28.4%
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
$18,175,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,590,000
Current use
RESTAURANT
$13,600,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$9,620,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,150,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$13.98M
Range $12.58M – $15.37M · ±10% · vs last sale $16.92M (Dec 19 2023)
Last sale anchor
$16.92M
Dec 19 2023
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
$786 / 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
$302,917
Tax year 2023
Assessed value
$14,703,119
Assessed 2023
Previous assessed
$4,020,000
+265.7% YoY
Effective rate
2.06%
On assessed value
Assessed land
$4,440,000
Assessed improvement
$10,263,119
Land market value
$4,440,000
Improvement market value
$10,263,119
Total market value
$14,703,119
Applied tax rate
74,402.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2022
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Stories
7
Units
6
Bathrooms
9
Total area
17,780 SF
Lot
0.43 ac (18,827 SF)
Zoning code
MF32
APN
74-43-43-34-00-000-0043
UPID
US19-0747303
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MF32 · West Palm Beach, FL
Zoning MF32 · permitted uses
MF32 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$10.6M
RESTAURANT
Est. value
$13.6M
MEDICAL BUILDING
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$9.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2022
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
7
Units
6
Bathrooms
9
Lot
0.43 ac
Current owner
From public records · entity-resolved
3611 S Flagler LLC
Entity
Mailing address
360 S ROSEMARY AVE #20, WEST PALM BEACH, FL 33401-5840
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
—
3611 S Flagler LLC
Roberts Frozen Family LLC
Quit Claim Deed
related
—
Mar 15, 2022
$16,920,000
Roberts Frozen Family LLC
Coordinates Solutions LLC
Warranty Deed
—
Jun 3, 2021
—
Frank Zihirl
Cody A Alfrey
Warranty Deed
$11,700,000 · Vaster Loans LLC
Mar 17, 2020
—
Coordinates Solutions LLC
—
Deed Of Trust
related
$10,750,000 · Iborrow Reit LP
Jul 3, 2019
—
Coordinates Solutions LLC
—
Deed
related
$825,000 · Snowpoint Capital Reit INC
Apr 18, 2019
—
Coordinates Solutions LLC
—
Deed
related
$500,001 · Snowpoint Capital Reit INC
Feb 2, 2018
—
Coordinates Solutions LLC
—
Trustees Deed
related
$500,000 · Other Institutional Lenders
Sep 29, 2017
$3,700,000
Coordinates Solutions LLC
Crystal Palm Beach Dev LLC
Warranty Deed
—
Feb 10, 2016
$1,670,000
Crystal Palm Beach Dev LLC
Givens,blair M & Timothy M
Warranty Deed
$1,680,000 · Private Individual
Jan 26, 2010
—
Givens Blair M Trust
Givens,timothy & Blair
Quit Claim Deed
related
—
Oct 5, 2004
—
Sunsong LLC
Givens,timothy & Blair
Quit Claim Deed
related
—
May 2, 2000
$600,000
Timothy Givens
Bernard,arthur J & Judith G
Grant Deed
$300,000 · Seller
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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