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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Office Spaces
425 Park St Okeechobee, FL 34972-4164
Individually Owned
7-yr Hold
Free & Clear
Property ID
US18-5603851
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,101 SF
Lot
0.16 ac (7,056 SF)
APN
3-15-37-35-0010-01660-0060
UPID
US18-5603851
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
-
Coldwell Banker Berger Real Estate Real Estate Agency
-
Lake Okeechobee Title Inc Title Company
-
Treasure Coast Hospice Nursing Home
-
Ledezma Law Firm Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$717k
Blend (final)
Blend
$785k
Owner & transaction history
Philip Y Berger · 7 yrs held
Philip Y Berger
since 2019
6 recorded transactions
Zoning & alternative use
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 Okeechobee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okeechobee 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
COMMERCIAL (GENERAL)
$1,250,000
Current use
WAREHOUSE, STORAGE
$1,195,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$71 / 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
$12,281
Tax year 2023
Assessed value
$563,451
Assessed 2023
Previous assessed
$520,377
+8.3% YoY
Effective rate
2.18%
On assessed value
Assessed land
$60,350
Assessed improvement
$503,101
Land market value
$60,350
Improvement market value
$503,101
Total market value
$563,451
Applied tax rate
50.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
7
Total area
11,101 SF
Lot
0.16 ac (7,056 SF)
APN
3-15-37-35-0010-01660-0060
UPID
US18-5603851
Jurisdiction
OKEECHOBEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
7
Lot
0.16 ac
Current owner
From public records · entity-resolved
Philip Y Berger
Individual
Free & Clear · 7 yrs held
Mailing address
PO BOX 158, OKEECHOBEE, FL 34973-0158
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2022
—
Phillip Y Berger
—
Deed
related
$527,000 · First Southern Bank
Jun 6, 2019
$100
Philip Y Berger
Berger,philip Y
Warranty Deed
—
Jun 6, 2006
—
Philip Y Berger
—
Trustees Deed
related
$597,919 · Big Lake National Bank
Mar 1, 2000
$56,700
Philip Y Berger
Troendle,mark S
Grant Deed
$185,600 · Suntrust Bank Mid Florida NA
Jan 13, 1998
$30,000
Mark S Troendle
Troendle,tina M
Quit Claim Deed
related
—
—
—
Philip Y Berger
—
Deed Of Trust
related
$189,000 · Big Lake National 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.
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