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Property profile & analytics
OFF-MARKET
Estimated value
$1,845,000
Strip malls
5601 Okeechobee Blvd West Palm Beach, FL 33417-4489
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4457136
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Construction
CONCRETE
Total area
5,005 SF
Lot
1.41 ac (61,524 SF)
Zoning code
CG
APN
00-42-43-23-42-003-0000
UPID
US18-4457136
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
-
Leah Sweat, PT Physician
-
SalonCentric (Bike/Boat/Book/etc) Store Cosmetic Store
-
FYZICAL Therapy & Balance Centers Medical Clinic
-
Jacob Aguirre Physician
-
Dr. Sean Mcbride Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.53M
CAP Approach
CAP
$1.25M
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$1.85M
Owner & transaction history
625 Vernon Road LP · 4 yrs held
625 Vernon Road LP
since 2021
Last sale
$1.9M
2 recorded transactions
Zoning & alternative use
CG · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.0M
+102.3%
Medical building
$2.7M
+83.8%
Auto repair, garage
$2.6M
+74.8%
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
$2,500,000
ML approach
$2,525,000
CAP Approach
CAP Return
Estimation
6%
$1,350,000
6.5%
$1,245,000
7%
$1,155,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,475,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,980,000
Change: +102% · Conversion: Difficult
MEDICAL BUILDING
$2,710,000
Change: +84% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,575,000
Change: +75% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,090,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$2,075,000
Change: +41% · Conversion: Easy
WAREHOUSE, STORAGE
$1,990,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$1.85M
Range $1.66M – $2.03M · ±10% · vs last sale $1.90M (Sep 21 2021)
Last sale anchor
$1.90M
Sep 21 2021
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
$369 / 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
$27,955
Tax year 2023
Assessed value
$1,630,982
Assessed 2023
Previous assessed
$1,571,649
+3.8% YoY
Effective rate
1.71%
On assessed value
Assessed land
$756,608
Assessed improvement
$874,374
Land market value
$756,608
Improvement market value
$874,374
Total market value
$1,630,982
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
5,005 SF
Lot
1.41 ac (61,524 SF)
Zoning code
CG
APN
00-42-43-23-42-003-0000
UPID
US18-4457136
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CG · West Palm Beach, FL
Zoning CG · permitted uses
CG · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2007
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
625 Vernon Road LP
Entity
Mailing address
250 95TH ST UNIT #546294, SURFSIDE, FL 33154-2839
Ownership since
2021
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
Sep 21, 2021
$1,896,300
625 Vernon Road LP
Gladstone Commercial Center INC
Warranty Deed
$1,320,000 · Seacoast National Bank
May 17, 2016
—
Gladstone Coml Center INC
—
Deed
related
$1,100,000 · Wells Fargo Bk
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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