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Property profile & analytics
OFF-MARKET
Estimated value
$3,240,000
Strip malls
450 Northlake Blvd Ste 1, North Palm Beach, FL 33408-5415
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4849237
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
CONCRETE
Total area
7,110 SF
Lot
1.33 ac (57,747 SF)
Zoning code
C1
APN
36-43-42-21-03-140-0010
UPID
US18-4849237
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.97M
Blend (final)
Blend
$3.24M
Owner & transaction history
Nlblvd LLC · 2 yrs held
Nlblvd LLC
since 2023
Last sale
$3.5M
2 recorded transactions
Zoning & alternative use
C1 · North Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.2M
+102.3%
Medical building
$3.9M
+83.8%
Auto repair, garage
$3.7M
+74.8%
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 North Palm Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$3,120,000
ML approach
$3,120,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,095,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,235,000
Change: +102% · Conversion: Difficult
MEDICAL BUILDING
$3,850,000
Change: +84% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,660,000
Change: +75% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,970,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$2,950,000
Change: +41% · Conversion: Easy
WAREHOUSE, STORAGE
$2,830,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$3.24M
Range $2.92M – $3.56M · ±10% · vs last sale $3.50M (Aug 22 2023)
Last sale anchor
$3.50M
Aug 22 2023
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
$456 / 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
$62,125
Tax year 2023
Assessed value
$2,667,895
Assessed 2023
Previous assessed
$2,304,202
+15.8% YoY
Effective rate
2.33%
On assessed value
Assessed land
$1,154,980
Assessed improvement
$1,512,915
Land market value
$1,154,980
Improvement market value
$1,512,915
Total market value
$2,667,895
Applied tax rate
36,501.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1962
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
7,110 SF
Lot
1.33 ac (57,747 SF)
Zoning code
C1
APN
36-43-42-21-03-140-0010
UPID
US18-4849237
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C1 · North Palm Beach, FL
Zoning C1 · permitted uses
C1 · North Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Palm Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
WAREHOUSE, STORAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1962
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
1.33 ac
Current owner
From public records · entity-resolved
Nlblvd LLC
Entity
Free & Clear · 2 yrs held
Mailing address
241 BRADLEY PL, PALM BEACH, FL 33480-3738
Ownership since
2023
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
Aug 22, 2023
$3,500,000
Nlblvd LLC
Colusa INC
Warranty Deed
—
Jul 30, 2019
$500
Colusa INC
Colusa Ptshp
Quit Claim Deed
related
—
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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