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Property profile & analytics
OFF-MARKET
Estimated value
$43,525,000
High-rise multifamily apartments
400 Olive Ave West Palm Beach, FL 33401-5921
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4228004
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1981
Construction
STEEL FRAME
Total area
112,202 SF
Lot
0.76 ac (33,249 SF)
Zoning code
FWD-5
APN
74-43-43-21-01-008-0012
UPID
US18-4228004
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
-
St James Residence Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.05M
Comparable Approach
Comparable
$54.85M
Blend (final)
Blend
$43.53M
Owner & transaction history
Sa Residences Preservation LP · 4 yrs held
Sa Residences Preservation LP
since 2021
Last sale
$40.0M
4 recorded transactions
Zoning & alternative use
FWD-5 · West Palm Beach, 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 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
$52,735,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$32,545,000
6.5%
$30,045,000
7%
$27,895,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$66,820,000
Current use
RETAIL STORES
$64,290,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$60,720,000
Change: -9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$59,195,000
Change: -11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$57,745,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$43.53M
Range $39.17M – $47.88M · ±10% · vs last sale $40.00M (Sep 1 2021)
Last sale anchor
$40.00M
Sep 1 2021
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
$388 / 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
$18,204
Tax year 2023
Assessed value
$19,165,630
Assessed 2023
Previous assessed
$18,127,842
+5.7% YoY
Effective rate
0.09%
On assessed value
Assessed improvement
$19,165,630
Improvement market value
$19,165,630
Total market value
$19,165,630
Applied tax rate
84,407.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
20
Units
148
Rooms
1
Bathrooms
11
Total area
112,202 SF
Lot
0.76 ac (33,249 SF)
Zoning code
FWD-5
APN
74-43-43-21-01-008-0012
UPID
US18-4228004
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
FWD-5 · West Palm Beach, FL
Zoning FWD-5 · permitted uses
FWD-5 · 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
$66.8M
RETAIL STORES
Est. value
$64.3M
MEDICAL BUILDING
Est. value
$60.7M
COMMERCIAL (GENERAL)
Est. value
$59.2M
AUTO REPAIR, GARAGE
Est. value
$57.7M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1981
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
20
Units
148
Rooms
1
Bathrooms
11
Lot
0.76 ac
Current owner
From public records · entity-resolved
Sa Residences Preservation LP
Entity
Mailing address
30 HUDSON YARDS #72, NEW YORK, NY 10001-2170
Ownership since
2021
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
Sep 1, 2021
$25,000,000
Sa Residences Preservation LP
St Andrews Residence Of Diocese Of
Special Warranty Deed
$24,000,000 · Wells Fargo Bank NA
Sep 1, 2021
$40,000,000
Sj Residences Preservation LP
St James Residence Of Palam Beaches
Special Warranty Deed
$35,000,000 · Wells Fargo Bank NA
—
—
Christopher B Warren
—
Deed Of Trust
related
$163,000 · First Union National Bank
—
—
Donald J Thomas
—
Deed Of Trust
related
$330,000 · Southstar Funding LLC
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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