Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$23,670,000
High-rise multifamily apartments
550 Executive Ctr Dr West Palm Beach, FL 33401-4902
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-5044463
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2004
Construction
CONCRETE
Total area
46,718 SF
Lot
3.45 ac (150,073 SF)
Zoning code
MF32
APN
74-43-43-20-01-009-0010
UPID
US18-5044463
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
-
Lakeside Commons Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.84M
Blend (final)
Blend
$23.67M
Owner & transaction history
Lakeside Commons Preservation Ltd · 3 yrs held
Lakeside Commons Preservation Ltd
since 2023
Last sale
$27.0M
6 recorded transactions
Zoning & alternative use
MF32 · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$35.7M
+28.4%
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
$29,000,000
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)
$27,820,000
Current use
RESTAURANT
$35,730,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$26,770,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$25,280,000
Change: -9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$24,645,000
Change: -11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$24,045,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$23.67M
Range $21.30M – $26.04M · ±10% · vs last sale $27.00M (Apr 5 2023)
Last sale anchor
$27.00M
Apr 5 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
$507 / 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
$12,177
Tax year 2023
Assessed value
$5,675,000
Assessed 2023
Previous assessed
$5,510,000
+3.0% YoY
Effective rate
0.21%
On assessed value
Assessed improvement
$5,675,000
Improvement market value
$5,675,000
Total market value
$5,675,000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2004
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
5
Units
44
Total area
46,718 SF
Lot
3.45 ac (150,073 SF)
Zoning code
MF32
APN
74-43-43-20-01-009-0010
UPID
US18-5044463
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MF32 · West Palm Beach, FL
Zoning MF32 · permitted uses
MF32 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$27.8M
RESTAURANT
Est. value
$35.7M
RETAIL STORES
Est. value
$26.8M
MEDICAL BUILDING
Est. value
$25.3M
COMMERCIAL (GENERAL)
Est. value
$24.6M
AUTO REPAIR, GARAGE
Est. value
$24.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2004
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
5
Buildings
2
Units
44
Lot
3.45 ac
Current owner
From public records · entity-resolved
Lakeside Commons Preservation Ltd
Individual
Mailing address
401 WILSHIRE BLVD STE #1070, SANTA MONICA, CA 90401-1428
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2023
$27,000,000
Lakeside Commons Preservation Ltd
Lakeside Commons Ltd
Special Warranty Deed
$3,500,000 · Housing Finance Authority Of Palm B
Mar 29, 2017
—
Lakeside Commons Ltd
—
Deed
related
$5,495,000 · Federal Nat'l Mtg Assn (fnma)
—
—
Tessfa Bell
—
Deed Of Trust
related
$48,000 · Countrywide Home Loans INC
—
—
Lakeside Commons Ltd
—
Loan Modification
related
$5,495,000 · Federal Nat'l Mtg Assn (fnma)
—
—
David R Gill
—
Deed Of Trust
related
$91,000 · E Trade Mortgage Corp
—
—
Lindsey Michel
—
Deed Of Trust
related
$33,000 · Bankatlantic Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 550 Executive Ctr Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
