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Property profile & analytics
OFF-MARKET
Estimated value
$66,725,000
Hotels
661 53rd St Boca Raton, FL 33487-8210
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-1256451
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1985
Construction
CONCRETE
Total area
245,868 SF
Lot
6.43 ac (280,130 SF)
Zoning code
LIRP
APN
06-43-47-06-06-002-0030
UPID
US18-1256451
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
-
Gazebassy Resort
-
53rd Street Grill and Bar Restaurant
-
Rotary Club of Downtown Boca Raton Charitable Organization Social Service Agency
-
Encore IT Consulting Firm Tech Support Center
-
Embassy Suites by Hilton Boca Raton Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$59.15M
Blend (final)
Blend
$66.73M
Owner & transaction history
Green Sapphire Hospitality LLC · 6 yrs held
Green Sapphire Hospitality LLC
since 2019
6 recorded transactions
Zoning & alternative use
LIRP · Boca Raton, 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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$103,005,000
Current use
RETAIL STORES
$98,035,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$97,135,000
Change: -6% · Conversion: Difficult
MEDICAL BUILDING
$96,905,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$66.73M
Range $60.05M – $73.40M · ±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
$271 / 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
$520,767
Tax year 2023
Assessed value
$25,000,000
Assessed 2023
Previous assessed
$24,000,000
+4.2% YoY
Effective rate
2.08%
On assessed value
Assessed improvement
$25,000,000
Improvement market value
$25,000,000
Total market value
$25,000,000
Applied tax rate
6,154.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
7
Units
263
Total area
245,868 SF
Lot
6.43 ac (280,130 SF)
Zoning code
LIRP
APN
06-43-47-06-06-002-0030
UPID
US18-1256451
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
LIRP · Boca Raton, FL
Zoning LIRP · permitted uses
LIRP · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$103.0M
RETAIL STORES
Est. value
$98.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$97.1M
MEDICAL BUILDING
Est. value
$96.9M
HOTEL/MOTEL Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1985
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
7
Units
263
Lot
6.43 ac
Current owner
From public records · entity-resolved
Green Sapphire Hospitality LLC
Entity
Mailing address
521 RXR PLZ, UNIONDALE, NY 11556-3813
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2019
$29,450,000
Green Sapphire Hospitality LLC
Boca Raton Falcon Hotel LLC
Special Warranty Deed
$20,000,000 · Manufacturers And Traders Trust Com
Jun 11, 2012
$17,000,000
Boca Raton Falcon Hotel LLC
Felcor Lodging Limited Partnership
Special Warranty Deed
—
Mar 23, 2011
—
Felcor Lodging LP
—
Deed Of Trust
related
$225,000,000 · J P Morgan Chase Bank
Mar 30, 1990
$12,500,000
Pk Prop Tampa INC
B,a Prop I INC
Grant Deed
related
$9,375,000 · United Bk
Jun 1, 1987
$29,186,300
Owner Name Unavailable
Owner Name Unavailable
Warranty Deed
related
—
—
—
Felcor Lodging LP
—
Deed Of Trust
related
$10,875,000 · J P Morgan Chase Bank
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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