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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Medical Office Space
625 Belvedere Rd West Palm Beach, FL 33405-1230
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-3520697
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
CONCRETE
Total area
2,893 SF
Lot
0.2 ac (8,873 SF)
Zoning code
NC
APN
74-43-43-28-08-012-0240
UPID
US18-3520697
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
-
Flamingo Park Medical Center Physician
-
Serge Cayemitte, MD Pediatrician Physician
-
PAX Depot Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.09M
Owner & transaction history
625 Biba LLC · 4 yrs held
625 Biba LLC
since 2021
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
NC · West Palm Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
. 94-136-94-140. - Reserved. ARTICLE V. - COMMERCIAL DISTRICTS Sec. 94-141. - Intent. Sec. 94-142. - General development standards. Sec. 94-143. - Office commercial (OC) district. Sec. 94-144. - Neighborhood commercial (NC) district. Sec. 94-145. - General commercial (GC) district. Sec. 94-146. - Commercial marine (CM) district. Sec. 94-147. - Reserved. Sec.…
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
115.64 ac
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
$1,390,000
ML approach
$1,325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,565,000
Current use
AUTO REPAIR, GARAGE
$1,490,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $1.06M (Sep 8 2021)
Last sale anchor
$1.06M
Sep 8 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
$377 / 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
$12,391
Tax year 2023
Assessed value
$556,768
Assessed 2023
Previous assessed
$530,724
+4.9% YoY
Effective rate
2.23%
On assessed value
Assessed land
$374,911
Assessed improvement
$181,857
Land market value
$374,911
Improvement market value
$181,857
Total market value
$556,768
Applied tax rate
74,402.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
NONE
Stories
1
Total area
2,893 SF
Lot
0.2 ac (8,873 SF)
Zoning code
NC
APN
74-43-43-28-08-012-0240
UPID
US18-3520697
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
NC · West Palm Beach, FLZoning NC · permitted uses
NC · West Palm Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
. 94-136-94-140. - Reserved. ARTICLE V. - COMMERCIAL DISTRICTS Sec. 94-141. - Intent. Sec. 94-142. - General development standards. Sec. 94-143. - Office commercial (OC) district. Sec. 94-144. - Neighborhood commercial (NC) district. Sec. 94-145. - General commercial (GC) district. Sec. 94-146. - Commercial marine (CM) district. Sec. 94-147. - Reserved. Sec. 94-148. - Professional office residential (POR) district. Sec. 94-149. - Railroad
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
115.64 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
1978
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
625 Biba LLC
Entity
Free & Clear · 4 yrs held
Mailing address
250 ROYAL PALM WAY STE #306, PALM BEACH, FL 33480-4356
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 8, 2021
$1,055,000
625 Biba LLC
625 Blvd LLC
Warranty Deed
—
Sep 2, 2020
$530,000
625 Blvd LLC
Serge E Cayemitte
Warranty Deed
$566,000 · Michael J Bianchini
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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