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    147 W Heron Blvd Riviera Beach, FL 33404

    Sponsored
    For Sale
    $450,000

    Commercial - Riviera Beach, FL

    Property size:
    7,848 SF
    Lot size:
    0.36 Acres
    Days on Market:
    4
    Last Refresh:
    Jan 30 at 6:06 pm

    Property Features for 147 W Heron Blvd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    OP (city
    APN
    56434228140090090
    Size
    7,848 SF
    Lot size
    0.36 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Juan Sanabria
    Juan Sanabria

    United Realty Group, Inc (954) 450-2000

    Listing agent Juan Sanabria (954) 888-6911

    Listing date Jan 27, 2026

    MLS# A11883351 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Riviera Beach Multifamily Development Site

    This shovel-ready multifamily site is located in Riviera Beach, Florida. Final site plan approval was secured in December 2024 for the construction of four duplex buildings, totaling eight units with 7,848 square feet. The mix of units includes two-story 3-bedroom, 2-bathroom units and single-level 2-bedroom, 2-bathroom flats. The property includes 16 dedicated parking spaces, including one handicap space. The lot size is approximately 15,756 square feet and is zoned Downtown General (DG). The current design covers 26% of the lot, while the maximum lot coverage permitted is 70%. The floor area ratio (FAR) is 0.50, with a maximum FAR of 2.0, allowing for potential future density or alternate layouts. Surveys, stamped drawings, and approval letters are available. The property is located on W Blue Heron Blvd, a major corridor connecting I-95, US-1, and Singer Island, providing strong exposure and access. The location benefits from rental demand, proximity to employers, beaches, and redevelopment zones, enhancing long-term value.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Riviera Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0745
    Latitude
    26.7789

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    FAQs

    What type of property is this?
    Commercial land - Shovel-ready multifamily site with approvals for 8 units.
    Where is this commercial land located?
    The property is located at 147 W Heron Blvd Riviera Beach, FL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Shovel-ready multifamily site with final site plan approval secured (Dec 2024) for 4 duplex buildings (8 total units).; - Includes stamped drawings, surveys, and approval letters, offering a plug-and-play opportunity for developers.; - Located on W Blue Heron Blvd, providing strong exposure and access to I-95, US-1, and Singer Island.
    (954) 701-1607
    Request Owner's contact information
    147 W Heron Blvd Riviera Beach, FL 33404
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    Riviera Beach, FL 33404
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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.

    More about this property
    147 W Heron Blvd Riviera Beach, FL 33404
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    We can help!
    Listing Contact
    Juan Sanabria
    Juan Sanabria
    Real Estate License ID: 3294343
    (954) 701-1607
    Learn more
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