Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,555,000
Medical Office Space
501 Glades Rd Boca Raton, FL 33432-1419
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2445672
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
CONCRETE
Total area
22,110 SF
Lot
2.97 ac (129,373 SF)
Zoning code
POI
APN
06-43-47-17-28-017-0010
UPID
US18-2445672
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
-
Dr. Julian Yepes Physician
-
MASHA SACHENKO Physician
-
JAY SEIDEL Physician
-
SALOMON DANIEL SALAMA Ophthalmologist
-
CARA WINSTON ZELDIS SNYDER Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.74M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.48M
Blend (final)
Blend
$14.56M
Owner & transaction history
Elp Glades LLC · 4 yrs held
Elp Glades LLC
since 2021
Last sale
$16.0M
5 recorded transactions
Zoning & alternative use
POI · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The symbol "POI" shall refer to the professional, office and institutional district and shall be used to designate all land so zoned. The purpose of this zoning district is to establish areas of primarily office uses and compatible ancillary uses designed as support functions. Major areas of implementation should include highway-oriented locations and should…
Zone name
Professional Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
113.04 ac
Source
code of ordinances
Top alternative use upside
Restaurant
$15.3M
+75.1%
Apartment house (5+ units)
$15.2M
+73.9%
Auto repair, garage
$10.9M
+25.3%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
$12,740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$15,260,000
Change: +75% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$15,160,000
Change: +74% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,920,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$8,815,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,735,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$14.56M
Range $13.10M – $16.01M · ±10% · vs last sale $16.00M (Oct 8 2021)
Last sale anchor
$16.00M
Oct 8 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
$658 / 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
$204,405
Tax year 2023
Assessed value
$11,336,346
Assessed 2023
Previous assessed
$10,988,452
+3.2% YoY
Effective rate
1.80%
On assessed value
Assessed land
$5,672,128
Assessed improvement
$5,664,218
Land market value
$5,672,128
Improvement market value
$5,664,218
Total market value
$11,336,346
Applied tax rate
6,154.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1992
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
22,110 SF
Lot
2.97 ac (129,373 SF)
Zoning code
POI
APN
06-43-47-17-28-017-0010
UPID
US18-2445672
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
POI · Boca Raton, FLZoning POI · permitted uses
POI · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The symbol "POI" shall refer to the professional, office and institutional district and shall be used to designate all land so zoned. The purpose of this zoning district is to establish areas of primarily office uses and compatible ancillary uses designed as support functions. Major areas of implementation should include highway-oriented locations and should encompass larger tracts of land. (Ord. No. 2631, § 2, 6-5-79; Ord. No. 2720, § 1, 1-22-80)
Zone name
Professional Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
113.04 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$15.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.2M
AUTO REPAIR, GARAGE
Est. value
$10.9M
RETAIL STORES
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.7M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1992
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.97 ac
Current owner
From public records · entity-resolved
Elp Glades LLC
Entity
Mailing address
3121 MICHELSON DR STE #500, IRVINE, CA 92612-7673
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2021
$16,000,000
Elp Glades LLC
Kireland West Glades Road Boca Rato
Special Warranty Deed
$12,075,000 · Simens Financial Services INC
Oct 8, 2021
—
Elp Glades LLC
Kireland West Glades Road Boca Rato
Assignment Of Lease (leasehold Sale)
$12,075,000 · Simens Financial Services INC
Jul 14, 2014
$13,750,000
West Glades Road Boca Kireland
Orbay Boca Venture LLC
Warranty Deed
—
Sep 14, 2010
$10,250,000
Orbay Boca Venture LLC
Hr Assets LLC
Special Warranty Deed
$6,500,000 · Terrabank
—
—
Alton Eighteen INC
—
Loan Modification
related
$7,500,000 · Bank United
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 501 Glades Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
