601 N Dixie Hwy West Palm Beach, FL 33401
Office buildings
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601 N Dixie Hwy, West Palm Beach, FL 33401
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Estimated value (blended)
$2.81M
Range $2.52M – $3.09M (±10%)
Implied cap rate
6.40%
In-place · NOI ÷ last sale
Property ID
US18-7481473
Property summary
AI-generated overview
This exceptional free-standing, two-story building (4,853 square feet) offers a unique opportunity in the heart of Downtown West Palm Beach's core submarket. Located at 601 N Dixie Hwy, near Quadrille Boulevard, this Class B property boasts a prominent location with excellent visibility and signage potential at a high-traffic intersection. The building features twelve on-site parking spaces, with the option for five additional spaces nearby. The flexible zoning (QGD-5) allows for diverse uses, including office, retail, live/work, and restaurant spaces, making it ideal for a variety of businesses. The building is currently vacant, presenting a blank canvas for a new tenant. The property includes a private parking lot. Tenants are responsible for real estate tax overages beyond the current year's assessment. This single-tenant building presents a rare chance to establish a presence in a thriving downtown location. The building has no elevators. APN: 74-43-43-21-06-014-0111.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1940
Construction
CONCRETE
Total area
4,853 SF
Lot
0.19 ac (8,372 SF)
Zoning code
QGD-5
APN
74-43-43-21-06-014-0111
UPID
US18-7481473
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.74M
CAP Approach
CAP
$2.78M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$2.81M
Owner & transaction history
since 2023
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
QGD-5 · West Palm Beach, FL
Zoning description
The Quadrille garden district is intended to function as a transition zone between the Quadrille business district and the waterfront, the greatest development intensity should be oriented towards Quadrille Boulevard to…
General category
MIXED_USE
Top alternative use upside
Retail stores
$2.8M
+36.3%
Medical building
$2.6M
+28.7%
Commercial (general)
$2.6M
+25.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.81M
Value range
$2.52M – $3.09M
±10% around blend
Estimated value / SF
$578 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$2.52M
blend $2.81M
$3.09M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,853 SF
Lot area
0.19 ac
Year built
1940
Stories
2
APN
74-43-43-21-06-014-0111
Assessed value
$1,398,019
Annual tax
$24,129
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.78M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.01M
@ 6.5% CAP return
$2.78M
@ 7% CAP return
$2.58M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$24,129
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.17M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.1 mi away · 6,170 SF
0.7 mi away · 3,742 SF
1.3 mi away · 3,928 SF
1.3 mi away · 3,928 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.81M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 64 sales
$420
+38%
Submarket 447 sales
$354
+63%
County 950 sales
$397
+46%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $578/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+36%
vs current-use indication
Medical Building
Commercial (general)
Auto Repair, Garage
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
6.40%
Selected cap rate for this office buildings
Derived from the West Palm Beach market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.40%
9.0%
NOI (est.)
$169k *
Last sale · Mar 2023
$2.61M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.64M
Move the market yield to see immediate price impact.
Value / SF
$545
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.90%6.40%6.90%
$152k
$2.58M
$2.38M
$2.21M
$169k
$2.87M
$2.64M
$2.45M
$186k
$3.15M
$2.91M
$2.70M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$5.95M
0.1 mi · Sep 2025 · $1,608/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,129
Tax year 2023
Assessed value
$1,398,019
Assessed 2023
Previous assessed
$900,365
+55.3% YoY
Effective rate
1.73%
On assessed value
Assessed land
$920,920
Assessed improvement
$477,099
Land market value
$920,920
Improvement market value
$477,099
Total market value
$1,398,019
Applied tax rate
84,407.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
4,853 SF
Lot
0.19 ac (8,372 SF)
Zoning code
QGD-5
APN
74-43-43-21-06-014-0111
UPID
US18-7481473
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
QGD-5 · West Palm Beach, FLZoning QGD-5 · permitted uses
QGD-5 · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Quadrille garden district is intended to function as a transition zone between the Quadrille business district and the waterfront, the greatest development intensity should be oriented towards Quadrille Boulevard to…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.19 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
QGD-5
MIXED_USE
Jurisdiction
West Palm Beach, FL
Recorded code
QGD-5
Official district
QGD-5
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for QGD-5 in West Palm Beach, FL.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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