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    315 President Barack Obama Hwy Hwy Riviera Beach, FL 33404

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    315 President Barack Obama Hwy Hwy Riviera Beach, FL 33404

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 315 President Barack Obama Hwy Hwy

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 315 President Barack Obama Highway in Riviera Beach, Florida (zip code 33404), offers a single-tenant occupancy in a newly constructed building. Completed in December 2022, the 6,239 square foot space boasts brand new interiors, including hurricane-resistant doors and windows. The property is zoned for stores and features several available suites on the first floor. Suite 101 offers 153 square feet at a monthly rent of $500. Suite 102 provides 420 square feet for $85 per month. Suite 103 encompasses 693 square feet and rents for $1,386 monthly. Suite 104 is 681 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Riviera Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0607
    Latitude
    26.7661

    Comparable in this City

    • Value Estimation by Request
      8,964 SF

      2305

      Retail properties & Spaces • 8,964 SF
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    • Value Estimation
      $12,020,000
      58,704 SF

      1101 13th St

      SHOW ROOM, WAREHOUSE • 58,704 SF
      1101 13th St, Riviera Beach, FL 33404-6701
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    • Value Estimation by Request
      700 SF

      30 14th St

      VEHICLE SALES, RENTALS • 700 SF
      30 14th St, West Palm Beach, FL 33404
      View Details
    • Value Estimation
      $4,700,000
      20,748 SF

      900 15th St

      SHOW ROOM, WAREHOUSE • 20,748 SF
      900 15th St, Riviera Beach, FL 33404-6720
      View Details
    • Value Estimation
      $2,865,000
      21,544 SF

      1025 17th St

      SHOW ROOM, WAREHOUSE • 21,544 SF
      1025 17th St, Riviera Beach, FL 33404-5407
      View Details
    • Value Estimation
      $710,000
      2,849 SF

      4156 Blue Heron Blvd

      CONVENIENCE STORE • 2,849 SF
      4156 Blue Heron Blvd, West Palm Beach, FL 33404
      View Details

    Similar Nearby for Sale

    • $2,200,000
      8,964 SF

      Riviera Beach Retail Investment Opportunity

      Prime Retail Space, 8,964 SF, $2.2M
      0 2305, West Palm Beach, FL 33404
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      952 SF

      Riviera Beach Shell Gas Station

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      5,931 SF

      Singer Island Investment Opportunity

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      1200 Surf Rd, Singer Island, FL 33404
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    Similar Nearby for Lease

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      5,689 SF

      Prime Retail Space on Blue Heron

      High-visibility retail space with significant frontage and traffic.
      1319 W 23Rd St, West Palm Beach, FL 33404
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    • $4,000 /Mo

      Retail Space Near I-95

      Retail unit with high visibility and ample parking available for lease.
      1521 W Blue Heron Blvd, Riviera Beach, FL 33404
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      8,155 SF

      Prime Retail Space on Blue Heron

      Retail space with high visibility and traffic count available for lease.
      1212 W Blue Heron Blvd, West Palm Beach, FL 33404
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    • $25 SF/Yr
      1,150 SF

      Retail Space in Riviera Beach

      Highly visible retail unit with ample parking and signage.
      1521-1541 W Blue Heron Blvd, Riviera Beach, FL 33404
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    • Contact for pricing
      2,873 SF

      Restaurant & Retail Space Available

      Prime restaurant and retail space with outdoor patios in West Palm Beach.
      25Th St, West Palm Beach, FL 33404
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    • $1,750 /Mo

      Singer Island Rental Space Available

      Rental space ideal for office or storage on Singer Island.
      1237 E Blue Heron Blvd, Riviera Beach, FL 33404
      View Details
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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
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