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Property profile & analytics
FOR LEASE
Office buildings
420 Royal Palm Way Palm Beach, FL 33480
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US18-3533888
For Lease
1 / 12
$65.04 SF/Yr
420 Royal Palm Way, Palm Beach, FL 33480
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Property summary
AI-generated overview
This exceptional Class A executive office space, located at 420 Royal Palm Way in Palm Beach, Florida, presents a unique leasing opportunity. The property boasts a total of 13,948 square feet across three stories, with 2,023 square feet currently available for a single tenant. Situated in the prestigious Banker's Row area, this building offers convenient access to I-95, just five minutes away. The building's architectural charm is undeniable, featuring classic Spanish finishes and traditional Spanish roofing. A two-story parking garage is conveniently attached to the building, ensuring ample parking for tenants and their guests. The location is unparalleled, placing you in close proximity to the renowned Breakers Resort and the upscale shopping haven of Worth Avenue, home to luxury retailers such as Jimmy Choo, Saks Fifth Avenue, and Salvatore Ferragamo. This is a rare opportunity to secure a prestigious office space in one of Palm Beach's most desirable locations. The property is in Palm Beach County, Florida, with a zip code of 33480.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2002
Construction
CONCRETE
Total area
12,948 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-023-0510
UPID
US18-3533888
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
-
GreenBlock Capital Bank Loan Service
-
Conner Strong & Buckelew Insurance Agency
-
Atlas Group LTD. Construction Company General Contractor
-
Coastal Concierge Home & Yacht Management Property Management Company Handyman/Handywoman/Handyperson
-
Future Healthcare of America Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.63M
Comparable Approach
Comparable
$5.99M
Blend (final)
Blend
$5.16M
Owner & transaction history
Jhb Seaside Properties LLC · 14 yrs held
Jhb Seaside Properties LLC
since 2011
7 recorded transactions
Zoning & alternative use
C-OPI · Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.4M
+24.5%
Commercial (general)
$6.1M
+18.6%
Retail stores
$5.2M
+0.5%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,100,000
6.5%
$5,630,000
7%
$5,230,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,135,000
Current use
AUTO REPAIR, GARAGE
$6,395,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,090,000
Change: +19% · Conversion: Easy
RETAIL STORES
$5,165,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$5,115,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$5,105,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$5.16M
Range $4.64M – $5.68M · ±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
$399 / 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
$154,412
Tax year 2023
Assessed value
$10,138,339
Assessed 2023
Previous assessed
$9,424,505
+7.6% YoY
Effective rate
1.52%
On assessed value
Assessed land
$4,930,816
Assessed improvement
$5,207,523
Land market value
$4,930,816
Improvement market value
$5,207,523
Total market value
$10,138,339
Applied tax rate
50,411.0000
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
2002
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
3
Total area
12,948 SF
Lot
0.46 ac (19,998 SF)
Zoning code
C-OPI
APN
50-43-43-23-05-023-0510
UPID
US18-3533888
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-OPI · Palm Beach, FL
Zoning C-OPI · permitted uses
C-OPI · Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$6.4M
COMMERCIAL (GENERAL)
Est. value
$6.1M
RETAIL STORES
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$5.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL 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
2002
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.46 ac
Current owner
From public records · entity-resolved
Jhb Seaside Properties LLC
Entity
Mailing address
215 N FEDERAL HWY STE #1, BOCA RATON, FL 33432-3928
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2018
—
Jhb Seaside Properties LLC
—
Loan Modification, Consolidation And Extension
related
$7,000,000 · Seaside Nat'l Bk & Trust (ct)
Dec 10, 2012
—
Jhb Seaside Properties LLC
—
Deed Of Trust
related
$7,000,000 · Seaside National Bank & Trust
Dec 20, 2011
—
Jhb Seaside Properties LLC
Batmasian,james H & Marta
Deed Of Trust
$6,000,000 · Seaside National Bank & Trust
Feb 4, 2004
$5,000,000
James H Batmasian
Haisfield Rp4 INC
Grant Deed
$5,800,000 · Bankunited Fsb
Mar 26, 1999
$2,210,000
179 Corp
Claude D Reese In
Trustees Deed
—
Mar 26, 1999
—
179 Corp
Ddr Cavaliers Ltd
Quit Claim Deed
related
$1,750,000 · Seller
—
—
James H Batmasian
—
Deed Of Trust
related
$4,075,135 · Bankunited Fsb
—
—
179 Corp
—
Deed Of Trust
related
$4,000,000 · Fidelity Federal Bank & Trust
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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