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Property profile & analytics
FOR LEASE
Warehouses
424 Park Pl West Palm Beach, FL 33401
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US19-0810972
For Lease
1 / 2
$50 SF/Yr
424 Park Pl, West Palm Beach, FL 33401
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1950
Construction
CONCRETE
Total area
24,471 SF
Lot
0.59 ac (25,657 SF)
Zoning code
GC
APN
74-43-43-28-06-001-0011
UPID
US19-0810972
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
-
Panache Events - West Palm Beach Opening 2024 Party Supply Store Rental Equipment Company
-
ACME Asbestos Abatement & Remediation Services Construction Company
-
Konro Restaurant
-
Flamingo Market (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.87M
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$4.26M
Owner & transaction history
424 Park Place LLC · 6 yrs held
424 Park Place LLC
since 2019
7 recorded transactions
Zoning & alternative use
GC · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,185,000
6.5%
$3,865,000
7%
$3,590,000
Blend value · Realmo final
$4.26M
Range $3.83M – $4.69M · ±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
$174 / 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
$63,087
Tax year 2023
Assessed value
$3,014,798
Assessed 2023
Previous assessed
$2,644,497
+14.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$518,548
Assessed improvement
$2,496,250
Land market value
$518,548
Improvement market value
$2,496,250
Total market value
$3,014,798
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Total area
24,471 SF
Lot
0.59 ac (25,657 SF)
Zoning code
GC
APN
74-43-43-28-06-001-0011
UPID
US19-0810972
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
GC · West Palm Beach, FL
Zoning GC · permitted uses
GC · 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.
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
424 Park Place LLC
Entity
Mailing address
777 BRICKELL AVE STE #630, MIAMI, FL 33131-2819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2022
—
424 Park Place LLC
—
Deed
related
$5,895,000 · Fieldpoint Private Bank And Trust
Aug 30, 2019
$3,300,000
424 Park Place LLC
Antique Row Self Storage INC
Special Warranty Deed
$2,145,000 · Fieldpoint Private Bank And Trust
Apr 26, 2011
$2,900,000
Antique Row Self Storage INC
All Air Conditioned Self Stora
Warranty Deed
$1,450,000 · Regent Bank
Nov 24, 2008
$1,200,000
All Air Conditioned Self Stora
Land Trust No 1003
Grant Deed
—
—
—
All Air Conditioned Self Stora
—
Deed Of Trust
related
$2,500,000 · Millstein Stuart & P Tr (pt)
—
—
James F Leen
—
Deed Of Trust
related
$75,000 · Fidelity Federal Bank & Trust
—
—
All Air Conditioned Self Stora
—
Deed Of Trust
related
$1,250,000 · Hv Investment Trust Vi (tr)
—
—
All Air Conditioned Self Stora
—
Deed Of Trust
related
$2,030,000 · Regent Bank
—
—
Antique Row Self Storage INC
—
Deed Of Trust
related
$1,450,000 · Regent Bank
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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