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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Office buildings
501 Lk Ave Lake Worth, FL 33460-3808
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-3484828
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1939
Construction
WOOD
Total area
2,391 SF
Lot
0.17 ac (7,501 SF)
Zoning code
DT
APN
38-43-44-21-15-023-0191
UPID
US18-3484828
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
-
City of Lake Worth Leisure Services City Government Office
-
Lake Worth Beach Parking Division Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$619k
Blend (final)
Blend
$760k
Owner & transaction history
Lake Worth Beach Cmnty Redevelopmen · 1 yrs held
Lake Worth Beach Cmnty Redevelopmen
since 2024
5 recorded transactions
Zoning & alternative use
DT · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$985,000
+27.6%
Medical building
$940,000
+22.2%
Neighborhood: shopping center
$870,000
+12.8%
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 Lake Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth 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%
$1,125,000
6.5%
$1,040,000
7%
$965,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$770,000
Current use
AUTO REPAIR, GARAGE
$985,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$940,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$685,000
Change: -11% · Conversion: Moderate
WAREHOUSE, STORAGE
$665,000
Change: -14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$625,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±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
$318 / 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
Assessed value
$709,257
Assessed 2023
Previous assessed
$673,286
+5.3% YoY
Assessed land
$397,509
Assessed improvement
$311,748
Land market value
$397,509
Improvement market value
$311,748
Total market value
$709,257
Applied tax rate
38,453.0000
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
Off-Market
Year built
1939
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,391 SF
Lot
0.17 ac (7,501 SF)
Zoning code
DT
APN
38-43-44-21-15-023-0191
UPID
US18-3484828
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
DT · Lake Worth, FL
Zoning DT · permitted uses
DT · Lake Worth, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$985,000
MEDICAL BUILDING
Est. value
$940,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
RETAIL STORES
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$625,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1939
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Lake Worth Beach Cmnty Redevelopmen
Individual
Mailing address
7 N DIXIE HWY, LAKE WORTH BEACH, FL 33460-3725
Ownership since
2024
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 17, 2024
—
Lake Worth Beach Cmnty Redevelopmen
City Of Lake Worth Beach
Warranty Deed
—
Jul 25, 2016
$250,000
City Of Lake Worth
Palms West Chamber Of Commerce In
Warranty Deed
—
Jun 3, 2005
$525,000
Greater Lake Worth Chamber Of Comme
Arnold G Greene
Warranty Deed
$188,763 · Fidelity Federal Bank & Trust
Jul 23, 2004
—
Arnold Greene
Greene,peggy
Affidavit Of Death
related
—
—
—
Greater Lake Worth Chamber Of Com
—
Deed Of Trust
related
$208,000 · Mercantile Commerce 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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