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Property profile & analytics
OFF-MARKET
Estimated value
$23,500,000
Retail properties & Spaces
9339 Glades Rd Boca Raton, FL 33434-3907
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-5567951
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1999
Construction
CONCRETE
Total area
50,267 SF
Lot
5.39 ac (234,854 SF)
Zoning code
MUPD
APN
00-42-47-18-16-001-0020
UPID
US18-5567951
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
-
DC office Government Office
-
Macy's Furniture Gallery Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$23.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.32M
Blend (final)
Blend
$23.50M
Owner & transaction history
Christ Fellowship Church INC · 2 yrs held
Christ Fellowship Church INC
since 2024
Last sale
$23.5M
2 recorded transactions
Zoning & alternative use
MUPD · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$34.7M
+73.1%
Apartment house (5+ units)
$34.5M
+71.9%
Auto repair, garage
$24.8M
+23.9%
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
$23,500,000
ML approach
$23,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$20,045,000
Current use
RESTAURANT
$34,695,000
Change: +73% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$34,460,000
Change: +72% · Conversion: Difficult
AUTO REPAIR, GARAGE
$24,830,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$19,860,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$19,810,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$23.50M
Range $21.15M – $25.85M · ±10% · vs last sale $23.50M (Jan 30 2024)
Last sale anchor
$23.50M
Jan 30 2024
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
$468 / 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
$175,377
Tax year 2023
Assessed value
$10,004,635
Assessed 2023
Previous assessed
$9,530,334
+5.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$5,460,379
Assessed improvement
$4,544,256
Land market value
$5,460,379
Improvement market value
$4,544,256
Total market value
$10,004,635
Applied tax rate
355.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
50,267 SF
Lot
5.39 ac (234,854 SF)
Zoning code
MUPD
APN
00-42-47-18-16-001-0020
UPID
US18-5567951
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
MUPD · Boca Raton, FL
Zoning MUPD · permitted uses
MUPD · 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
RETAIL STORES Current
Est. value
$20.0M
RESTAURANT
Est. value
$34.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$34.5M
AUTO REPAIR, GARAGE
Est. value
$24.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.9M
MEDICAL BUILDING
Est. value
$19.8M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1999
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
5.39 ac
Current owner
From public records · entity-resolved
Christ Fellowship Church INC
Entity
Free & Clear · 2 yrs held
Mailing address
5343 NORTHLAKE BLVD, PALM BEACH GARDENS, FL 33418-4554
Ownership since
2024
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
Jan 30, 2024
$23,500,000
Christ Fellowship Church INC
Macys Retail Holdings LLC
Special Warranty Deed
—
Jun 25, 2004
—
Glades Partners Ltd
—
Trustees Deed
related
$6,845,475 · Wachovia Bank NA
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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