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Property profile & analytics
OFF-MARKET
Estimated value
$3,130,000
Day care centers
5415 Morning Mist Way Lake Worth, FL 33449-5484
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-6327958
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2012
Construction
WOOD
Total area
8,370 SF
Lot
1.19 ac (51,723 SF)
Zoning code
PUD
APN
00-42-44-31-06-002-0000
UPID
US18-6327958
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.13M
Owner & transaction history
Red Apple Development LLC · 3 yrs held
Red Apple Development LLC
since 2023
Last sale
$3.4M
2 recorded transactions
Zoning & alternative use
PUD · Lake Worth, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+22.5%
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 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
$2,985,000
ML approach
$2,840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$3,960,000
Current use
RESTAURANT
$4,850,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,845,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$3,690,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,445,000
Change: -13% · Conversion: Difficult
MEDICAL BUILDING
$3,300,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.13M
Range $2.82M – $3.44M · ±10% · vs last sale $3.35M (Jun 9 2023)
Last sale anchor
$3.35M
Jun 9 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
$374 / 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
$43,934
Tax year 2023
Assessed value
$2,559,706
Assessed 2023
Previous assessed
$2,514,897
+1.8% YoY
Effective rate
1.72%
On assessed value
Assessed land
$1,263,593
Assessed improvement
$1,296,113
Land market value
$1,263,593
Improvement market value
$1,296,113
Total market value
$2,559,706
Applied tax rate
203.0000
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
2012
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
8,370 SF
Lot
1.19 ac (51,723 SF)
Zoning code
PUD
APN
00-42-44-31-06-002-0000
UPID
US18-6327958
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
PUD · Lake Worth, FL
Zoning PUD · permitted uses
PUD · 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$4.0M
RESTAURANT
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.3M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL 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
2012
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Red Apple Development LLC
Entity
Free & Clear · 3 yrs held
Mailing address
800 CORPORATE DR STE #124, FORT LAUDERDALE, FL 33334-3618
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2023
—
Red Apple Development LLC
Red Apple Development LLC
Intrafamily Transfer
related
—
May 4, 2023
$3,350,000
Red Apple Development LLC
Sheddf 2 Fl 1 A LLC
Special 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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