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    840 Us Hwy 1st, Unit 420 North Palm Beach, FL 33408-3830
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    Property profile & analytics

    840 Us Hwy 1st, Unit 420, North Palm Beach, FL 33408-3830

    View on Map
    • Office buildings
    • 1,175 SF
    Off-Market
    Last Sale Sep 17, 2021
    $793,000
    Property ID
    US18-4864939
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    6.8%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 840 Us Hwy 1st

    Year built
    1984
    Construction
    CONCRETE BLOCKS
    Property type
    Office buildings
    APN
    68-43-42-09-38-000-4200
    APU
    68434209380004200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 17, 2023 — 840 Us Highway M & L LLC — Deed · related $841k · Seacoast National Bank
    Sep 17, 2021 $685,000 840 Us Hwy B1 400 LLC Weka INC Warranty Deed $357k · Harvest Community Bank
    Sep 15, 2021 — 840 Us Hwy 1 400 LLC — Deed · related $280k · Harvest Commercial Capital LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $645,000
      ML approach
      $625,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $730,000
      6.5%
      $670,000
      7%
      $625,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $415,000
      Current use
      MEDICAL BUILDING
      $635,000
      Change: +53% Conversion: Easy
      AUTO REPAIR, GARAGE
      $605,000
      Change: +46% Conversion: Difficult
      RETAIL STORES
      $490,000
      Change: +18% Conversion: Moderate
      WAREHOUSE, STORAGE
      $465,000
      Change: +13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $455,000
      Change: +10% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0595
    Latitude
    26.8236
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,562
    $0.00
    $170,376
    $170,376
    -
    $0.00
    $170,376
    $170,376

    Comparable in this City

    • Value Estimation
      $2,870,000
      23,440 SF

      760 Us Hwy 1st Ste, Unit 101

      OFFICE BUILDING (MULTI-STORY)
      760 Us Hwy 1st Ste, North Palm Beach, FL 33408-4420
      View Details
    • Value Estimation by Request
      540 SF

      636 Us Hwy 1st Ste, Unit 107

      OFFICE BUILDING
      636 Us Hwy 1st Ste, North Palm Beach, FL 33408-4611
      View Details
    • Value Estimation by Request
      203 SF

      537 Us Hwy 1st 3rd Ste, Unit 3

      OFFICE BUILDING
      537 Us Hwy 1st 3rd Ste, North Palm Beach, FL 33408-4903
      View Details
    • Value Estimation
      $10,810,000
      21,490 SF

      2000 Pga Blvd Ste, Unit 3100

      OFFICE BUILDING (MULTI-STORY)
      2000 Pga Blvd Ste, Palm Beach Gardens, FL 33408-2724
      View Details
    • Value Estimation
      $49,220,000
      81,983 SF

      11750 Us Hwy 1st, Unit 300

      OFFICE BUILDING (MULTI-STORY)
      11750 Us Hwy 1st, Palm Beach Gardens, FL 33408-3023
      View Details
    • Value Estimation by Request

      840 Us Hwy 1st Ste 435a

      OFFICE BUILDING
      840 Us Hwy 1st Ste 435a, North Palm Beach, FL 33408-3829
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,991 SF

      North Palm Beach Office Building

      Office building for sale in North Palm Beach, Florida.
      12010 Us Highway 1, North Palm Beach, FL 33408
      View Details
    • Contact for pricing
      1,200 SF

      North Palm Beach Office Space

      Office space available in North Palm Beach, Florida.
      721 Us Highway 1, North Palm Beach, FL 33408
      View Details
    • $395,500

      Corner Unit Office Suite

      Ground floor office suite in North Palm Beach location.
      721 116-117, North Palm Beach, FL 33408
      View Details
    • Contact for pricing
      12,335 SF

      North Palm Beach Office Space

      Office space available for lease in North Palm Beach.
      660 Us Highway 1, North Palm Beach, FL 33408
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Multi-Story Office/Retail Business Park

      Multi-story office and retail spaces with open-air atrium.
      11911 Us Highway 1, North Palm Beach, FL 33408
      View Details
    • Contact for pricing
      1,018 SF

      Office Space with Intracoastal Views

      Office space for rent with highway frontage and security.
      618 Us Highway 1, North Palm Beach, FL 33408
      View Details
    • Contact for pricing
      2,929 SF

      North Palm Beach Endcap Space

      2,929 SF endcap available on Northlake Blvd for lease.
      838 Northlake Blvd, North Palm Beach, FL 33408
      View Details
    • Contact for pricing

      North Palm Beach Retail Space

      New medical/retail space with high visibility and frontage.
      328 Northlake Blvd, North Palm Beach, FL 33408
      View Details
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    North Palm Beach, FL 33408-3830
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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