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Property profile & analytics
OFF-MARKET
Estimated value
$1,520,000
Theaters & concert halls
501 Sapodilla Ave West Palm Beach, FL 33401-6009
Entity Owned
30-yr Hold
Free & Clear
Property ID
US18-3069220
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1997
Construction
CONCRETE
Total area
53,080 SF
Lot
19.32 ac (841,740 SF)
Zoning code
CAD-5
APN
74-43-43-21-01-033-0021
UPID
US18-3069220
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
-
Dreyfoos Project Grad 25 Charitable Organization Social Service Agency
-
Dreyfoos School of the Arts Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$1.52M
Owner & transaction history
SCHOOL BOARD PALM BEACH COUNTY FL
SCHOOL BOARD PALM BEACH COUNTY FL
Zoning & alternative use
CAD-5 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
As the main cultural and educational center within the downtown, the district shall be reinforced by the promotion of additional cultural and educational facilities with campus style development, the district is anchored by the Kravis Center for the Performing Arts, the Dreyfoos School of the Arts, and the Palm Beach County Convention Center
Zone name
Cultural Arts District 5
General category
CIVIC_INSTITUTIONAL
Zone area
25.65 ac
Source
Realmo
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
$1,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$1,190,000
Current use
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±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
$29 / 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
$85,809,396
Assessed 2023
Previous assessed
$73,289,118
+17.1% YoY
Assessed land
$54,713,165
Assessed improvement
$31,096,231
Land market value
$54,713,165
Improvement market value
$31,096,231
Total market value
$85,809,396
Applied tax rate
84,407.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
9
Stories
3
Bathrooms
1
Total area
53,080 SF
Lot
19.32 ac (841,740 SF)
Zoning code
CAD-5
APN
74-43-43-21-01-033-0021
UPID
US18-3069220
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CAD-5 · West Palm Beach, FLZoning CAD-5 · permitted uses
CAD-5 · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
As the main cultural and educational center within the downtown, the district shall be reinforced by the promotion of additional cultural and educational facilities with campus style development, the district is anchored by the Kravis Center for the Performing Arts, the Dreyfoos School of the Arts, and the Palm Beach County Convention Center
Zone name
Cultural Arts District 5
General category
CIVIC_INSTITUTIONAL
Zone area
25.65 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$1.2M
THEATER (MOVIE) Current
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
1997
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Buildings
9
Bathrooms
1
Lot
19.32 ac
Current owner
From public records · entity-resolved
SCHOOL BOARD PALM BEACH COUNTY FL
Individual
Free & Clear · 0 yrs held
Mailing address
3661 INTERSTATE PARK RD N STE #200, RIVIERA BEACH, FL 33404-5906
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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