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Property profile & analytics
OFF-MARKET
Estimated value
$9,600,000
Retail properties & Spaces
560 Okeechobee Blvd West Palm Beach, FL 33401-6303
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5119661
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2017
Construction
STEEL FRAME
Total area
60,951 SF
Lot
1.94 ac (84,633 SF)
Zoning code
OBD-12CP
APN
74-43-43-21-17-004-0000
UPID
US18-5119661
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
-
RH Rooftop Restaurant West Palm Restaurant
-
RH West Palm | The Gallery at CityPlace Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.60M
Owner & transaction history
State Of Florida Dept & Transportat · 9 yrs held
State Of Florida Dept & Transportat
since 2017
6 recorded transactions
Zoning & alternative use
OBD-12CP · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$14,360,000
6.5%
$13,255,000
7%
$12,310,000
Blend value · Realmo final
$9.60M
Range $8.64M – $10.56M · ±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
$158 / 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
$394,255
Tax year 2023
Assessed value
$19,092,196
Assessed 2023
Previous assessed
$18,013,822
+6.0% YoY
Effective rate
2.07%
On assessed value
Assessed land
$7,359,900
Assessed improvement
$11,732,296
Land market value
$7,359,900
Improvement market value
$11,732,296
Total market value
$19,092,196
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Stories
4
Total area
60,951 SF
Lot
1.94 ac (84,633 SF)
Zoning code
OBD-12CP
APN
74-43-43-21-17-004-0000
UPID
US18-5119661
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
OBD-12CP · West Palm Beach, FLZoning OBD-12CP · permitted uses
OBD-12CP · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
4
Lot
1.94 ac
Current owner
From public records · entity-resolved
State Of Florida Dept & Transportat
Entity
Free & Clear · 9 yrs held
Mailing address
501 FERN ST, WEST PALM BEACH, FL 33401-5700
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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 8, 2020
—
Cityplace Office II LLC
—
Deed
related
$18,000,000 · Wells Fargo Bk 2019-gc40 (ce)
Jun 23, 2017
—
State Of Florida Dept & Transportat
Restoration Hardware INC
Quit Claim Deed
related
—
Oct 1, 2015
—
Cityplace Office II LLC
—
Trustees Deed
related
$13,400,000 · Bankunited Fsb
May 12, 2008
—
Cityplace Office II LLC
Cityplace Retail LLC
Quit Claim Deed
related
—
Apr 10, 2008
$836,837
Cityplace Retail LLC
West Palm Bch Cmnty Redev Agcy
Grant Deed
—
—
—
Cityplace Office II LLC
—
Loan Modification
related
$18,000,000 · Wells Fargo Bk 2019-gc40 (ce)
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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