Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Park Pl West Palm Beach, FL 33401

    • Commercial land
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Dec 01, 2020
    $2,000,000
    Value Estimations
    $2,640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7522985
    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.

    Current Use by Public Records

    • Commercial land

    Property Details for Park Pl

    Lot size
    0.14 lot acres
    Zone code
    RTD
    Property type
    Commercial land
    APN
    74-43-43-28-06-002-0050
    APU
    74434328060020050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,255,000
      ML approach
      $3,300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0563
    Latitude
    26.6977
    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
    $3,043
    $188,550
    $0.00
    $188,550
    -
    $188,550
    $0.00
    $188,550

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      1007 Palm Bch Lks Blvd

      VACANT COMMERCIAL LAND • 0.16 Acres
      1007 Palm Bch Lks Blvd, West Palm Beach, FL 33401-2843
      View Details
    • Value Estimation by Request
      0.15 Acres

      Palm Bch Lks Blvd

      VACANT COMMERCIAL LAND • 0.15 Acres
      Palm Bch Lks Blvd, West Palm Beach, FL 33401
      View Details
    • Value Estimation by Request
      0.13 Acres

      Spruce Ave

      VACANT COMMERCIAL LAND • 0.13 Acres
      Spruce Ave, West Palm Beach, FL 33401
      View Details
    • Value Estimation by Request
      0.06 Acres

      701 Rosemary Ave

      VACANT COMMERCIAL LAND • 0.06 Acres
      701 Rosemary Ave, West Palm Beach, FL 33401-6031
      View Details
    • Value Estimation
      $510,000
      4.39 Acres

      1415 Centrepark Blvd

      VACANT COMMERCIAL LAND • 4.39 Acres
      1415 Centrepark Blvd, West Palm Beach, FL 33401-7411
      View Details
    • Value Estimation by Request
      0.15 Acres

      Evernia St

      VACANT COMMERCIAL LAND • 0.15 Acres
      Evernia St, West Palm Beach, FL 33401
      View Details

    Similar Nearby for Sale

    • $7,950,000

      Prime Location Land Parcels

      Five parcels totaling 0.79 acres with approved development plans.
      428 Avon Rd, West Palm Beach, FL 33401
      View Details
    • $136,000

      Investment Property Ready For Development

      Land ripe for assemblage near The Grand and Soleste Palm.
      627 3Rd St, West Palm Beach, FL 33401
      View Details
    • Contact for pricing

      Development Site in Centrepark

      2.2-acre development site approved for multifamily housing.
      1415 Centrepark Blvd, West Palm Beach, FL 33401
      View Details
    • $2,995,000
      0.33 Acres

      Prime Downtown West Palm Beach Lots

      Two lots totaling over 20,000 SF in booming area.
      902 2Nd St, West Palm Beach, FL 33401
      View Details
    • $229,000
      0.15 Acres

      West Palm Beach Residential Land

      Land zoned for duplex in West Palm Beach, Florida.
      913 14Th St, West Palm Beach, FL 33401
      View Details
    • $1,200,000
      30.00 Acres

      Prime West Palm Beach Farmland

      30 Acres, Ag Production Zoning, $1.2M
      0000 State Rd 880, West Palm Beach, FL 33401
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Commercial Land For Rent

      Commercial land available for rent in West Palm Beach, FL.
      1710 Okeechobee Rd, West Palm Beach, FL 33401
      View Details
    • $60,000
      28,066 SF

      West Palm Beach Development Opportunity

      Prime lot for development with intracoastal views.
      215 5Th St, West Palm Beach, FL 33401
      View Details
    • $35 SF/Yr
      4,853 SF

      Downtown West Palm Beach Gem

      4,853 SF Office/Retail/Live-Work
      601 Dixie Hwy, West Palm Beach, FL 33401
      View Details
    • Contact for pricing
      1,400 SF

      Prime Retail Space in West Palm

      Retail space in downtown West Palm Beach near City Place.
      300-320 S Dixie Hwy, West Palm Beach, FL 33401
      View Details
    • $45 SF/Yr
      2,174 SF

      Retail/Office Space with Mezzanine

      Retail or office space with mezzanine in West Palm Beach.
      210 S Olive Ave, West Palm Beach, FL 33401
      View Details
    • $23 SF/Yr
      3,788 SF

      West Palm Beach Office Space

      Campus-like setting with flexible floor plans and excellent amenities.
      1450 Centrepark Blvd, West Palm Beach, FL 33401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Park Pl
    West Palm Beach, FL 33401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.