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Property profile & analytics
OFF-MARKET
Estimated value
$1,385,000
Strip malls
955 Park Ave Lake Park, FL 33403-2405
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-0949727
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1965
Construction
CONCRETE
Total area
4,500 SF
Lot
0.5 ac (21,976 SF)
Zoning code
PADD
APN
36-43-42-20-01-003-0240
UPID
US18-0949727
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$1.39M
Owner & transaction history
Tenth And Park Avenue LLC · 3 yrs held
Tenth And Park Avenue LLC
since 2023
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
PADD · Lake Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+41.0%
Commercial (general)
$1.8M
+32.0%
Office building
$1.6M
+20.2%
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 Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Park 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
$1,290,000
ML approach
$1,360,000
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,120,000
7%
$1,040,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,325,000
Current use
RETAIL STORES
$1,865,000
Change: +41% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,750,000
Change: +32% · Conversion: Easy
OFFICE BUILDING
$1,590,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.39M
Range $1.25M – $1.52M · ±10% · vs last sale $1.45M (Feb 13 2023)
Last sale anchor
$1.45M
Feb 13 2023
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
$308 / 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
$26,885
Tax year 2023
Assessed value
$1,362,164
Assessed 2023
Previous assessed
$648,065
+110.2% YoY
Effective rate
1.97%
On assessed value
Assessed land
$461,454
Assessed improvement
$900,710
Land market value
$461,454
Improvement market value
$900,710
Total market value
$1,362,164
Applied tax rate
36,507.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1965
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
4,500 SF
Lot
0.5 ac (21,976 SF)
Zoning code
PADD
APN
36-43-42-20-01-003-0240
UPID
US18-0949727
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
PADD · Lake Park, FL
Zoning PADD · permitted uses
PADD · Lake Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE 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
1965
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Tenth And Park Avenue LLC
Entity
Mailing address
11231 US HWY 1ST #354, NORTH PALM BEACH, FL 33408-3216
Ownership since
2023
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
Feb 13, 2023
$1,445,000
Tenth And Park Avenue LLC
Southbound Realty INC
Warranty Deed
$1,573,000 · New Wave Loans Residential LLC
Nov 15, 2004
$485,000
Southbound Realty INC
Gelman,jeffrey B
Warranty Deed
—
Dec 19, 2002
$307,000
Jeffrey B Gelman
Perotti,john
Grant Deed
—
Mar 10, 1997
$250,000
John Perotti
Del Balso,joseph & Sandra
Grant Deed
$125,000 · Seller
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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