Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Office buildings
5589 Okeechobee Blvd Ste 105 West Palm Beach, FL 33417-4486
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-2016322
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
CONCRETE BLOCKS
Total area
1,563 SF
Lot
1 ac (43,560 SF)
APN
00-42-43-23-43-000-0050
UPID
US18-2016322
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$515k
Owner & transaction history
5589 W Okeechobee Blvd LLC · 3 yrs held
5589 W Okeechobee Blvd LLC
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$845,000
+52.9%
Auto repair, garage
$805,000
+45.5%
Retail stores
$650,000
+17.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$555,000
Current use
MEDICAL BUILDING
$845,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$805,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$650,000
Change: +17% · Conversion: Moderate
WAREHOUSE, STORAGE
$620,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$605,000
Change: +10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$460,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$329 / 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
$5,717
Tax year 2023
Assessed value
$363,805
Assessed 2023
Previous assessed
$273,667
+32.9% YoY
Effective rate
1.57%
On assessed value
Assessed improvement
$363,805
Improvement market value
$363,805
Total market value
$363,805
Applied tax rate
192.0000
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
Status
Off-Market
Year built
2005
Construction
CONCRETE BLOCKS
Heating
NONE
Total area
1,563 SF
Lot
1 ac (43,560 SF)
APN
00-42-43-23-43-000-0050
UPID
US18-2016322
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$555,000
MEDICAL BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$805,000
RETAIL STORES
Est. value
$650,000
WAREHOUSE, STORAGE
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$605,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$460,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Construction
CONCRETE BLOCKS
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
5589 W Okeechobee Blvd LLC
Entity
Mailing address
5589 OKEECHOBEE BLVD STE #105, WEST PALM BEACH, FL 33417-4486
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2023
—
5589 W Okeechobee Blvd LLC
Palm Beach Mortgage Group INC
Correction Deed
related
$500,000 · The Bancorp Bank
Mar 3, 2023
$590,000
5589 W Okecjhoee LLC
Palm Beach Mortgage Group INC
Warranty Deed
$500,000 · The Bancorp Bank
Nov 10, 2005
$402,000
Palm Beach Mortgage Group INC
Brothers Two LLC
Special Warranty Deed
$388,400 · Fidelity Federal Bank & 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.
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 5589 Okeechobee Blvd Ste, Unit 105?
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.
