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    1501 NW 1st Court Boca Raton, FL 33432

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    Claim this Listing
    Pending
    $25 SF/Yr $20,833/Mo (calc)

    COMMERCIAL - Boca Raton, FL

    Property size:
    10,000 SF
    Lot size:
    0.45 Acres
    Added:
    Jun 30, 2025
    Days on Market:
    310
    Last Refresh:
    May 5 at 9:06 pm

    Property Features for 1501 NW 1st Court

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    M2
    Parking features
    Assigned
    Standard status
    Pending
    APN
    06434717110010022
    Size
    10,000 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    HERMAN-BOCA RATON INDUSTRIAL AREA NLY 32 FT OF LT 2 & SLY 133 FTOF LT 3 BLK 1
    Tax Annual Amount
    20005

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    4
    Flooring type
    Laminate, Concrete, Carpet
    Building materials
    Block
    Roof type
    Concrete

    We can help!

    Listing Contact
    Marc D Oram
    Marc D Oram

    Listing agent Marc D Oram License #0574688

    Listing office RE/MAX Select Group 10175 W Sunrise Blvd, Parkland, FL

    Listing date Jun 30, 2025

    MLS# F10512657

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

    Overview

    Boca Raton Warehouse with Office

    This commercial property in Boca Raton, FL, offers a 2500 square foot warehouse space that is available for immediate occupancy. The layout includes 1000 square feet of office space and 1500 square feet of warehouse area. The office area is configured with three private offices, a central conference room, a kitchen, a bathroom, and a rear outside patio area. The property is located close to Glades Road and North Dixie Highway. The lot size is 0.45 acres. The property is zoned M2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial Renovation Services Construction Company Penske Truck Rental Car Rental Facility BOCAPOWERSPORTS /PENSKE Motorcycle Shop PWI Construction, Inc. Construction Company

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Daycare Center Building Supply Gym & Fitness Center

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

    Similar Places Nearby

    • Atlantic Moving Co. — 433 Plaza Real Suite 275 - #620, Boca Raton, FL 33432
    • Vanguard Moving Services — 433 Plaza Real STE 275, Boca Raton, FL 33432
    • ADA Moving & Storage — 1388 NW 2nd Ave Unit 5, Boca Raton, FL 33432
    • Your Hometown Mover — 980 N Federal Hwy Suite 110, Boca Raton, FL 33432
    • Addison Storage — 900 NW 1st Ave, Boca Raton, FL 33432

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.08764
    Latitude
    26.363747

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    FAQs

    What type of property is this?
    Warehouse - 2500 SF warehouse with 1000 SF office space.
    Where is this warehouse located?
    The property is located at 1501 NW 1st Court Boca Raton, FL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Immediate occupancy available; 2500 SF total space: Featuring a 1000 SF office and 1500 SF warehouse; Office built‑out with 3 offices, conference room, kitchen, and bathroom
    (954) 383-2328
    We can help!
    Listing Contact
    Marc D Oram
    Marc D Oram
    Real Estate License ID: 0574688
    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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