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    Boca Raton Freestanding Commercial Building Title is generated by Realmo AI

    101 NW 3rd St, Boca Raton, FL 33432

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    Freestanding commercial building in downtown Boca Raton.

    Type:Vacant-User
    Property size:
    4,214 SF
    Lot size:
    0.32 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 4:55 am

    Property Features for 101 NW 3rd St

    General Information

    Standard status
    Active
    Size
    4,214 SF
    Lot size
    0.32 Acres
    Property subtype
    Vacant-User

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Zachary Levine

    Listing agent Zachary Levine License #FL: SL3497050

    Listing office Fort Lauderdale Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Fort Lauderdale Office

    HighLights

    • Delivered 100% vacant, offering immediate flexibility for owner‑user or investor.
    • Prime downtown Boca Raton location, west of US‑1.
    • Walk Score of 91, near Downtown Boca Raton and Brightline station.
    • Seven grade‑level bay doors and approximately 12 feet of clear height.
    • Secured outdoor lot for vehicle storage, equipment, or gated parking.
    • Located near Mizner Park and new Boca Raton municipal campus, benefiting from ongoing investment.

    Overview

    This is a freestanding commercial building with approximately 4,200 square feet of space, situated in the downtown core of Boca Raton, Florida, just west of North Dixie Highway (US-1). The property occupies a 0.32-acre parcel and will be delivered 100% vacant. The location offers immediate flexibility for an owner-user or investor. The site has a Walk Score of 91, indicating exceptional pedestrian access to nearby amenities, dining, and regional transit. The building is currently occupied by an auto-body shop and features seven grade-level bay doors of varying sizes and approximately 12 feet of clear height, allowing for vehicle access, storage, or functional workspace. The layout supports a range of uses, including professional office, flex, or specialty service oriented space, as well as a private workshop, collector car storage, or club-style environment. The property also includes a secured outdoor lot, providing additional space for vehicle storage, equipment, or gated parking. Located near Mizner Park and the new Boca Raton municipal campus currently under development, the surrounding district continues to benefit from public and private investment.
    Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Brinks Auto Body ... Auto Repair Shop Marathon Motors LLC Car Dealership ALCOLOCK Ignition Interlock Building Supply Palm Beach Custom ... Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Gaff’s Mobile Tires — 285 SW 5th St, Boca Raton, FL 33432
    • 247 TowTruck Boca Raton FL — 410 via de palmas, boca raton, fl 33432
    • Windshield 911 of Boca Raton — 102 NE 2nd St, Boca Raton, FL 33432
    • Tire Kingdom — 199 NW 1st Ave, Boca Raton, FL 33432
    • Street Knight Customs — 259 SE 1st Ave. # 4, Boca Raton, FL 33432

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0880545
    Latitude
    26.3532428

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    FAQs

    What type of property is this?
    Auto shop - Freestanding commercial building in downtown Boca Raton.
    Where is this auto shop located?
    The property is located at 101 NW 3rd St Boca Raton, FL.
    What are key features of this property?
    This property features: Delivered 100% vacant, offering immediate flexibility for owner‑user or investor.; Prime downtown Boca Raton location, west of US‑1.; **Walk Score of 91**, near Downtown Boca Raton and Brightline station.
    (954) 245-3515
    We can help!
    Listing Contact
    Zachary Levine
    Real Estate License ID: FL: SL3497050
    Learn More
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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
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