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Property profile & analytics
OFF-MARKET
Estimated value
$174,980,000
High-rise multifamily apartments
5400 Broken Sound NW Blvd Boca Raton, FL 33487-3521
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3651290
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2022
Construction
STEEL FRAME
Total area
339,689 SF
Lot
11.5 ac (500,809 SF)
Zoning code
LIRP PMD
APN
06-42-47-01-02-004-0000
UPID
US18-3651290
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
-
Amalta Broken Sound Apartment Rental Agency Apartment Complex
-
Produce Business Grocery & Convenience Store Food Market
-
Phoenix Media Network Inc Advertising Agency Marketing & Advertising
-
SPALTA Spa & Massage Center
-
Altafit Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$230.40M
Blend (final)
Blend
$174.98M
Owner & transaction history
Mqmf Boca Broken Sound LLC · 3 yrs held
Mqmf Boca Broken Sound LLC
since 2022
Last sale
$194.0M
6 recorded transactions
Zoning & alternative use
LIRP PMD · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
70.63 ac
Source
Realmo
Top alternative use upside
Restaurant
$234.5M
+0.7%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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
$176,140,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$232,875,000
Current use
RESTAURANT
$234,460,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$174.98M
Range $157.48M – $192.48M · ±10% · vs last sale $194.00M (Oct 29 2022)
Last sale anchor
$194.00M
Oct 29 2022
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
$515 / 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
$2,445,531
Tax year 2023
Assessed value
$139,796,981
Assessed 2023
Previous assessed
$13,574,682
+929.8% YoY
Effective rate
1.75%
On assessed value
Assessed land
$18,711,000
Assessed improvement
$121,085,981
Land market value
$18,711,000
Improvement market value
$121,085,981
Total market value
$139,796,981
Applied tax rate
6,154.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2022
Construction
STEEL FRAME
Heating
YES
Cooling
CENTRAL
Buildings
4
Stories
6
Units
261
Total area
339,689 SF
Lot
11.5 ac (500,809 SF)
Zoning code
LIRP PMD
APN
06-42-47-01-02-004-0000
UPID
US18-3651290
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
LIRP PMD · Boca Raton, FLZoning LIRP PMD · permitted uses
LIRP PMD · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
70.63 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$232.9M
RESTAURANT
Est. value
$234.5M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
2022
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
6
Buildings
4
Units
261
Lot
11.5 ac
Current owner
From public records · entity-resolved
Mqmf Boca Broken Sound LLC
Entity
Mailing address
2000 MCKINNEY AVE STE #1000, DALLAS, TX 75201-2027
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2022
—
Mqmf Boca Broken Sound LLC
Lake Worth Drainage District
Quit Claim Deed
related
—
Sep 13, 2022
$194,000,000
Mqmf Boca Broken Sound LLC
Boca Multi Owner LLC
Special Warranty Deed
—
May 6, 2020
—
Boca Multi Owner LLC
—
Deed
related
$68,831,000 · Wells Fargo Bank NA
Oct 16, 2019
$20,000,000
Boca Multi Owner LLC
Znt LLC
Grant Deed
—
Jul 11, 1997
$4,700,000
Taaz LLC
Mitel INC
Grant Deed
$4,700,000 · Lasalle National Bank
—
—
Znt LLC
—
Loan Modification
related
$9,750,000 · Privatebank & Trust
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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