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Property profile & analytics
OFF-MARKET
Estimated value
$1,485,000
Office buildings
512 Lucerne Ave Lake Worth, FL 33460-3819
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-4003996
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1983
Construction
WOOD
Total area
3,343 SF
Lot
0.17 ac (7,427 SF)
Zoning code
DT
APN
38-43-44-21-15-024-0260
UPID
US18-4003996
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
-
Facilitating Uniqueness Advertising Agency Marketing & Advertising
-
Create Now Media Advertising Agency Marketing & Advertising
-
Sperry Tents Miami Rental Equipment Company
-
David Alexander Realty Real Estate Agency
-
Del Sol Financial llc Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
$1.46M
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.49M
Owner & transaction history
Oceano West Palm Owner LLC · 2 yrs held
Oceano West Palm Owner LLC
since 2023
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
DT · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+27.6%
Medical building
$1.3M
+22.2%
Neighborhood: shopping center
$1.2M
+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
$1,515,000
ML approach
$1,540,000
CAP Approach
CAP Return
Estimation
6%
$1,575,000
6.5%
$1,455,000
7%
$1,350,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,080,000
Current use
AUTO REPAIR, GARAGE
$1,375,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$1,320,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,215,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$960,000
Change: -11% · Conversion: Moderate
WAREHOUSE, STORAGE
$930,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±10% · vs last sale $1.70M (Sep 19 2023)
Last sale anchor
$1.70M
Sep 19 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
$444 / 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
$19,314
Tax year 2023
Assessed value
$841,844
Assessed 2023
Previous assessed
$797,632
+5.5% YoY
Effective rate
2.29%
On assessed value
Assessed land
$295,189
Assessed improvement
$546,655
Land market value
$295,189
Improvement market value
$546,655
Total market value
$841,844
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
1983
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,343 SF
Lot
0.17 ac (7,427 SF)
Zoning code
DT
APN
38-43-44-21-15-024-0260
UPID
US18-4003996
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
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$960,000
WAREHOUSE, STORAGE
Est. value
$930,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1983
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Oceano West Palm Owner LLC
Entity
Mailing address
1 MIDLANE RD, OCEAN RIDGE, FL 33435-6247
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2024
—
Oceano West Palm Owner LLC
—
Deed
related
$1,838,900 · Lendingclub Bank NA
Sep 19, 2023
$1,700,000
Oceano West Palm Owner LLC
Social House Lucerne LLC
Warranty Deed
—
Jan 29, 2019
—
Social House Lucerne LLC
—
Deed
related
$1,000,000 · Comerica Bank
Dec 4, 2018
$850,000
Social House Lucerne LLC
Greenroom Lake Worth LLC
Warranty Deed
—
Jul 9, 2014
$505,000
The Greenroom Lake Worth LLC
512-514 Lucerne Ave INC
Warranty Deed
$435,500 · Stonegate Bank
May 5, 1999
$275,000
512-514 Lucerne Ave INC
Swanson,josephine H
Grant Deed
—
—
—
Greenroom Lake Worth LLC
—
Loan Modification
related
$585,500 · Stonegate Bk
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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