Back to Search
Property profile & analytics
FOR LEASE
Office buildings
399 W Palmetto Park Rd Boca Raton, FL 33432
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-2173089
For Lease
1 / 3
$25.92 SF/Yr
399 W Palmetto Park Rd, Boca Raton, FL 33432
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1982
Construction
CONCRETE
Total area
11,862 SF
Lot
0.97 ac (42,109 SF)
Zoning code
LB
APN
06-43-47-19-19-001-0000
UPID
US18-2173089
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
-
Kennedy Jr Benjamin S Law Firm
-
Hugo Nunez - State Farm Insurance Agent Insurance Agency
-
BBM Structural Engineers, Inc Structural Engineer
-
Fimiani Development Corporation Construction Company General Contractor
-
Steve Rice, CPA, Inc. Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.74M
Blend (final)
Blend
$2.72M
Owner & transaction history
399 Investments LLC · 8 yrs held
399 Investments LLC
since 2018
2 recorded transactions
Zoning & alternative use
LB · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
$4,300,000
Current use
Blend value · Realmo final
$2.72M
Range $2.45M – $2.99M · ±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
$229 / 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
$55,923
Tax year 2023
Assessed value
$3,026,391
Assessed 2023
Previous assessed
$2,853,773
+6.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$1,547,506
Assessed improvement
$1,478,885
Land market value
$1,547,506
Improvement market value
$1,478,885
Total market value
$3,026,391
Applied tax rate
6,154.0000
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
For Lease
Year built
1982
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
11,862 SF
Lot
0.97 ac (42,109 SF)
Zoning code
LB
APN
06-43-47-19-19-001-0000
UPID
US18-2173089
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
LB · Boca Raton, FL
Zoning LB · permitted uses
LB · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.3M
OFFICE BUILDING Current
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
1982
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.97 ac
Current owner
From public records · entity-resolved
399 Investments LLC
Entity
Mailing address
215 N FEDERAL HWY STE #1, BOCA RATON, FL 33432-3928
Ownership since
2018
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
Apr 25, 2018
$2,558,000
399 Investments LLC
399 Palmetto LLC
Warranty Deed
—
Sep 4, 2009
$2,728,260
399 Palmetto LLC
399 West Palmetto Park Assocs
Warranty Deed
$200,000 · 399 West Palmetto Park Assocs
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?”
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.
