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Property profile & analytics
OFF-MARKET
Estimated value
$1,620,000
Office buildings
501 Palm St West Palm Beach, FL 33401-7041
Entity Owned
Free & Clear
Property ID
US18-7776622
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1955
Construction
CONCRETE
Total area
3,928 SF
Lot
0.64 ac (27,826 SF)
Zoning code
GC
APN
74-43-43-28-04-014-0101
UPID
US18-7776622
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
-
Cove Construction Group Construction Company
-
Palm Beach Functional Movement Gym & Fitness Center
-
Palm Beach Health Coaching Wellness Program
-
Palm Beach Personal Training Gym & Fitness Center
-
Palm Beach Functional Medicine Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.62M
Owner & transaction history
Mt Nittany Apartments 1 LP
Mt Nittany Apartments 1 LP
since 2025
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
GC · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.3M
+36.3%
Medical building
$2.1M
+28.7%
Commercial (general)
$2.1M
+25.5%
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%
$2,435,000
6.5%
$2,245,000
7%
$2,085,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,650,000
Current use
RETAIL STORES
$2,250,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$2,125,000
Change: +29% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,070,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,020,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,560,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.46M – $1.78M · ±10% · vs last sale $1.54M (May 19 2025)
Last sale anchor
$1.54M
May 19 2025
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
$412 / 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
$49,354
Tax year 2023
Assessed value
$2,303,723
Assessed 2023
Previous assessed
$2,174,420
+5.9% YoY
Effective rate
2.14%
On assessed value
Assessed land
$374,843
Assessed improvement
$1,928,880
Land market value
$374,843
Improvement market value
$1,928,880
Total market value
$2,303,723
Applied tax rate
74,407.0000
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
1955
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
3,928 SF
Lot
0.64 ac (27,826 SF)
Zoning code
GC
APN
74-43-43-28-04-014-0101
UPID
US18-7776622
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.6M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1955
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
0.64 ac
Current owner
From public records · entity-resolved
Mt Nittany Apartments 1 LP
Entity
Free & Clear · 0 yrs held
Mailing address
1400 ALABAMA AVE STE #20, WEST PALM BEACH, FL 33401-7048
Ownership since
2025
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
Sep 19, 2025
—
Mt Nittany Apartments 1 LP
—
Deed
related
$3,750,000 · Kish Bank
Aug 19, 2025
$3,960,000
Mt Nittany Apartments 1 LP
Vincent G Burkhardt
Special Warranty Deed
—
Aug 19, 2025
$1,540,000
Mt Nittany Apartments 1 LP
501 Palm LLC
Special Warranty Deed
—
Aug 6, 2014
—
501 Palm LLC
Burkhardt,vincent G
Grant Deed
—
Aug 6, 2014
$254,715
501 Palm LLC
Burkhardt,vincent G
Warranty Deed
—
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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