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Property profile & analytics
OFF-MARKET
Estimated value
$8,315,000
Warehouses
900 Barnett Dr A Lake Worth Beach, FL 33461-3339
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-1308672
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1986
Construction
CONCRETE
Total area
15,000 SF
Lot
2.12 ac (92,404 SF)
Zoning code
I-POC
APN
38-43-44-21-04-001-0070
UPID
US18-1308672
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
-
iii star party rental Rental Equipment Company
-
Alpine Small Business Warehouses Warehouse & Storage
-
Gator state storage Storage Facility
-
Code Red Roofers, Inc Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.53M
Blend (final)
Blend
$8.32M
Owner & transaction history
State Storage Lake Worth LLC · 3 yrs held
State Storage Lake Worth LLC
since 2022
Last sale
$8.5M
4 recorded transactions
Zoning & alternative use
I-POC · Lake Worth Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$10.3M
+147.0%
Restaurant
$8.7M
+108.7%
Office building
$6.6M
+58.8%
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 Lake Worth Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Worth 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
$8,150,000
ML approach
$8,115,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,285,000
Change: +147% · Conversion: Difficult
RESTAURANT
$8,690,000
Change: +109% · Conversion: Difficult
OFFICE BUILDING
$6,610,000
Change: +59% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,175,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$5,910,000
Change: +42% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,455,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,430,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$8.32M
Range $7.48M – $9.15M · ±10% · vs last sale $8.50M (Aug 24 2022)
Last sale anchor
$8.50M
Aug 24 2022
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
$554 / 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
$107,965
Tax year 2023
Assessed value
$4,527,254
Assessed 2023
Previous assessed
$3,972,985
+14.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,291,808
Assessed improvement
$3,235,446
Land market value
$1,291,808
Improvement market value
$3,235,446
Total market value
$4,527,254
Applied tax rate
38,453.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
5
Stories
1
Total area
15,000 SF
Lot
2.12 ac (92,404 SF)
Zoning code
I-POC
APN
38-43-44-21-04-001-0070
UPID
US18-1308672
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
I-POC · Lake Worth Beach, FL
Zoning I-POC · permitted uses
I-POC · Lake Worth Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Worth Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.3M
RESTAURANT
Est. value
$8.7M
OFFICE BUILDING
Est. value
$6.6M
AUTO REPAIR, GARAGE
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$5.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1986
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Lot
2.12 ac
Current owner
From public records · entity-resolved
State Storage Lake Worth LLC
Entity
Mailing address
3895 WESTROADS DR, RIVIERA BEACH, FL 33407-1234
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
$8,500,000
State Storage Lake Worth LLC
Boydean B Frazier Fmtr Holdings LLC
Special Warranty Deed
$5,950,000 · Renasant Bank
Jan 9, 2004
—
Boydean,b Frazier Tr
Frazier,tr
Quit Claim Deed
related
$3,900,000 · Midfirst Bank State Savings Bk
Dec 27, 2001
$2,376,000
Boydean B Frazier Family Tr
Frazier Trust
Grant Deed
related
$1,877,000 · Gmac Commercial Mortgage Corp
Jul 2, 2001
$2,810,000
Frazier,tr
Personal Mini Storage
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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