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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Strip malls
524 24th St West Palm Beach, FL 33407-5404
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-5169280
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1950
Construction
CONCRETE
Total area
2,973 SF
Lot
0.14 ac (6,077 SF)
Zoning code
NMUD-TR
APN
74-43-43-09-05-050-0130
UPID
US18-5169280
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
-
MMDesigns Interior Design Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$418k
Blend (final)
Blend
$635k
Owner & transaction history
North Dixie Ventures LLC · 11 yrs held
North Dixie Ventures LLC
since 2014
7 recorded transactions
Zoning & alternative use
NMUD-TR · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$930,000
+6.4%
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
$440,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$685,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$875,000
Current use
OFFICE BUILDING
$930,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$214 / 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
$10,892
Tax year 2023
Assessed value
$508,029
Assessed 2023
Previous assessed
$468,500
+8.4% YoY
Effective rate
2.14%
On assessed value
Assessed land
$212,625
Assessed improvement
$295,404
Land market value
$212,625
Improvement market value
$295,404
Total market value
$508,029
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Total area
2,973 SF
Lot
0.14 ac (6,077 SF)
Zoning code
NMUD-TR
APN
74-43-43-09-05-050-0130
UPID
US18-5169280
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
NMUD-TR · West Palm Beach, FL
Zoning NMUD-TR · permitted uses
NMUD-TR · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$875,000
OFFICE BUILDING
Est. value
$930,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
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
1950
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
North Dixie Ventures LLC
Entity
Free & Clear · 11 yrs held
Mailing address
241 BRADLEY PL, PALM BEACH, FL 33480-3738
Ownership since
2014
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
Nov 14, 2014
$1,375,000
North Dixie Ventures LLC
Sarenil Associates LLC
Grant Deed
—
May 23, 2006
—
Sarenil Assocs LLC 524 24th St
Scupper Ents
Quit Claim Deed
related
—
Apr 17, 2006
—
Sarenil Assocs LLC 524 24th St
Scupper Ents
Quit Claim Deed
related
—
Oct 16, 2001
$113,400
Scupper Enterprises Ltd
Schwack,steven I
Grant Deed
—
Dec 15, 2000
$39,500
Steven I Schwack
Schwack,leo B & Sylvia
Quit Claim Deed
related
—
—
—
Leo B Schwack
—
Deed Of Trust
related
$80,000 · Grand Bank Florida
—
—
Scuper Enterprises LP
—
Deed Of Trust
related
$95,000 · Harold Engelsen
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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