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Property profile & analytics
OFF-MARKET
Estimated value
$65,480,000
Distribution centers
5851 45th St West Palm Beach, FL 33407-1602
Entity Owned
23-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5364741
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2003
Construction
STEEL FRAME
Total area
365,601 SF
Lot
67.91 ac (2,958,264 SF)
Zoning code
CPD
APN
74-42-43-02-00-000-3060
UPID
US18-5364741
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
-
Costco Distribution Center Distribution Center Logistics Company
-
arjun upholestry cleaning Physician Medical Clinic
-
Arianailfairy Highway Patrol
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$62.65M
Comparable Approach
Comparable
$70.47M
Blend (final)
Blend
$65.48M
Owner & transaction history
COSTCO WHOLESALE CORP
COSTCO WHOLESALE CORP
Zoning & alternative use
CPD · 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%
$67,870,000
6.5%
$62,650,000
7%
$58,175,000
Blend value · Realmo final
$65.48M
Range $58.93M – $72.03M · ±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
$179 / 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
$1,198,394
Tax year 2023
Assessed value
$47,025,902
Assessed 2023
Previous assessed
$47,025,902
+0.0% YoY
Effective rate
2.55%
On assessed value
Assessed land
$9,124,149
Assessed improvement
$37,901,753
Land market value
$9,124,149
Improvement market value
$37,901,753
Total market value
$47,025,902
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
365,601 SF
Lot
67.91 ac (2,958,264 SF)
Zoning code
CPD
APN
74-42-43-02-00-000-3060
UPID
US18-5364741
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CPD · West Palm Beach, FL
Zoning CPD · permitted uses
CPD · 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.
Building & site characteristics
From public records
Year built
2003
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
67.91 ac
Current owner
From public records · entity-resolved
COSTCO WHOLESALE CORP
Entity
Free & Clear · 0 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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