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Property profile & analytics
OFF-MARKET
Estimated value
$1,485,000
Banks
605 Olive Ave, West Palm Beach, FL 33401-4005
Individually Owned
15-yr Hold
Free & Clear
Property ID
US19-0751703
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2006
Construction
WOOD
Total area
9,305 SF
Lot
0.36 ac (15,812 SF)
Zoning code
QGD-5
APN
74-43-43-22-12-002-0040
UPID
US19-0751703
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
-
Sniffen & Spellman, P.A. Law Firm
-
First Horizon Bank Bank Loan Service
-
J. W. Anderson Co. Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.49M
Owner & transaction history
Iberiabank · 15 yrs held
Iberiabank
since 2010
3 recorded transactions
Zoning & alternative use
QGD-5 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$160 / 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
$87,181
Tax year 2023
Assessed value
$4,188,679
Assessed 2023
Previous assessed
$3,867,215
+8.3% YoY
Effective rate
2.08%
On assessed value
Assessed land
$1,976,625
Assessed improvement
$2,212,054
Land market value
$1,976,625
Improvement market value
$2,212,054
Total market value
$4,188,679
Applied tax rate
84,407.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
9,305 SF
Lot
0.36 ac (15,812 SF)
Zoning code
QGD-5
APN
74-43-43-22-12-002-0040
UPID
US19-0751703
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
QGD-5 · West Palm Beach, FL
Zoning QGD-5 · permitted uses
QGD-5 · 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
2006
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.36 ac
Current owner
From public records · entity-resolved
Iberiabank
Individual
Free & Clear · 15 yrs held
Mailing address
601 POYDRAS ST STE #2075, NEW ORLEANS, LA 70130-6019
Ownership since
2010
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
Oct 9, 2010
$2,600,000
Iberiabank
Orion Bk
Grant Deed
—
Feb 9, 2007
—
Orion Bank
605 North Olive Avenue LLC
Warranty Deed
—
Dec 6, 2006
$5,150,000
605 North Olive Avenue LLC
Fifth Third Bank
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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