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    8480 Okeechobee Blvd West Palm Beach, FL 33411
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    Property profile & analytics

    8480 Okeechobee Blvd, West Palm Beach, FL 33411

    View on Map
    • Strip malls
    • 13,801 SF
    • 2.33 lot acres
    For Sale
    $9,000,000
    View Listing →
    West Palm Beach Retail Property For Sale
    $9,000,000
    14,588 SF

    West Palm Beach Retail Property

    Retail property available for sale in West Palm Beach, FL.

    8480 Okeechobee Blvd, West Palm Beach, FL
    View Listing
    Property ID
    US18-2590388
    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
    Cap Rate Potential
    2.6%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Amy Casal Realtor: The Paradise Pro / Real Estate Agency
    • Paula Sabatier / Real Estate Agency
    • Tydarius Latson | Real Estate Agent / Real Estate Agency
    • Lux Brokerage / Real Estate Agency
    • Portside Breakfast & Lunch / Restaurant

    Property Details for 8480 Okeechobee Blvd

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    2.33 lot acres
    Zone code
    CC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    00-42-43-29-15-000-0012
    APU
    424329150000012

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 20, 2021 — Florida Business Development Corpor Verthigo LLC Assignment Of Lease (leasehold Sale) —
    Sep 9, 2021 — Averthiz LLC — Deed · related $2.7M · Florida Business Development Corporation
    Jul 6, 2021 $6,500,000 Averthiz LLC Bimini Twist Shops LLC Warranty Deed $3.3M · Harvest Commercial Capital LLC
    Dec 16, 2009 $1,995,000 Bimini Twist Shops LLC Bimini Twist Plaza LLC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,167,000
      Market price range: $2.73M - $5.76M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,065,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $8,220,000
      Change: +102% Conversion: Difficult
      MEDICAL BUILDING
      $7,470,000
      Change: +84% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,105,000
      Change: +75% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,760,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $5,725,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1815
    Latitude
    26.7081
    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
    $73,115
    $1,619,144
    $2,195,602
    $3,814,746
    -
    $1,619,144
    $2,195,602
    $3,814,746

    Comparable in this City

    • Value Estimation
      $890,000
      3,120 SF

      10140 Okeechobee Blvd

      SHOPPING CENTER, STRIP CENTER
      10140 Okeechobee Blvd, Royal Palm Beach, FL 33411-1400
      View Details
    • Value Estimation
      $2,100,000
      8,448 SF

      551 State Rd 7th Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER
      551 State Rd 7th Ste, Royal Palm Beach, FL 33411-1764
      View Details
    • Value Estimation by Request
      1,140 SF

      955 Sansburys Way Ste, Unit 210

      SHOPPING CENTER, STRIP CENTER
      955 Sansburys Way Ste, West Palm Beach, FL 33411-3624
      View Details
    • Value Estimation by Request
      1,140 SF

      955 Sansburys Way Ste, Unit 212

      SHOPPING CENTER, STRIP CENTER
      955 Sansburys Way Ste, West Palm Beach, FL 33411-3624
      View Details
    • Value Estimation
      $2,530,000
      16,800 SF

      9852 Southern Blvd

      SHOPPING CENTER, STRIP CENTER
      9852 Southern Blvd, Royal Palm Beach, FL 33411-3509
      View Details
    • Value Estimation
      $1,520,000
      5,016 SF

      11490 Okeechobee Blvd Ste, Unit 3

      SHOPPING CENTER, STRIP CENTER
      11490 Okeechobee Blvd Ste, Royal Palm Beach, FL 33411-8747
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      195,248 SF

      West Palm Beach Shopping Center

      High-Yield Retail Investment, 100% Leased
      0 Southern Blvd, Royal Palm Beach, FL 33411
      View Details
    • $100,000

      Royal Palm Beach Business Opportunity

      Turnkey barbershop with modern build-out and strong clientele.
      1120 Royal Palm Beach Blvd, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      3,331 SF

      Profitable Gas Station For Sale

      Gas station and convenience store for sale in Royal Palm Beach.
      1009 N State Road 7, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      14,588 SF

      West Palm Beach Retail Property

      Retail property available for sale in West Palm Beach, FL.
      8480 Okeechobee Blvd, West Palm Beach, FL 33411
      View Details
    • New
      $1,650,000
      2,264 SF

      Downtown West Palm Beach Retail Unit

      2,264 SF retail unit in downtown West Palm Beach.
      212 S Olive Ave, West Palm Beach, FL 33411
      View Details
    • $500,000
      3,331 SF

      Gas Station with Car Wash

      Gas station, car wash, and convenience store for sale.
      1009 N State 7 Rd, Royal Palm Beach, FL 33411
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space on Okeechobee Blvd

      Retail space with high visibility and traffic near SuperTarget.
      10287 Okeechobee Blvd, West Palm Beach, FL 33411
      View Details
    • Contact for pricing
      2,400 SF

      Publix-Anchored Shopping Center Space

      Retail space available in Royal Palm Beach, Florida.
      1104-1316 Royal Palm Beach Blvd, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      30,000 SF

      Retail Space in Royal Palm

      Retail space available in a high-visibility power center.
      500-558 N State Road 7, Royal Palm Beach, FL 33411
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in West Palm

      Retail space available in Publix-anchored neighborhood center.
      8983-8993 Okeechobee Blvd, West Palm Beach, FL 33411
      View Details
    • Contact for pricing
      21,600 SF

      Retail Space in Wellington Power Center

      Premier retail location near Wellington Green and Wellington Regional Medical Center.
      816-1040 S State Road 7, Wellington, FL 33411
      View Details
    • Contact for pricing
      2,906 SF

      Retail Space in Royal Palm

      Retail space available in a busy Palm Beach County center.
      512-516 N State Road 7, Royal Palm Beach, FL 33411
      View Details
    View Listing
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    West Palm Beach, FL 33411
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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.

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