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    101 Palmetto Park Rd Boca Raton, FL 33432

    • Retail space
    • 5,098 SF
    • 0.24 lot acres
    For Lease
    View listing
    $61 SF/Yr
    Last Sale
    Jun 14, 2022
    $2,500,000
    Value Estimations
    $2,205,000
    Cap Rate Potential
    3.8%
    Retail space
    Location Intelligence
    Property ID
    US18-3707329
    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

    • David Pantoja / Real Estate Agency
    • Florida Premier Realty - Jan Deborah Imperato B.A. / Real Estate Agents
    • Florida Premier Realty / Real Estate Agency
    • Dave Hibbs, Realtor® / Real Estate Agent

    Property Details for 101 Palmetto Park Rd

    Year built
    1939
    Construction
    WOOD
    Lot size
    0.24 lot acres
    Property size
    5,098 SF
    Zone code
    DDRI
    Property type
    Retail space
    APN
    06-43-47-20-28-000-0371
    APU
    6434720280000371

    Description

    This exceptional 1,458 square foot retail space is ideally situated in the heart of downtown Boca Raton, Florida, at 101 E Palmetto Park Road E, zip code 33432. The property, zoned DDRI (APN: 06434720280000371), offers a single-tenant occupancy within a building containing only one suite. Currently configured as office space, it features two separate bays (101 & 103) that have been joined, providing a flexible layout adaptable to various retail uses. The space includes two bathrooms and is conveniently located just steps from Mizner Park and the Royal Palm Plaza BrightLine Station, across from Louie Bossi's Ristorante Bar Pizzeria. Its prime corner location at Palmetto Park Road and NE 1st Avenue, one block east of Federal Highway, ensures high visibility and accessibility. The property's proximity to the upcoming Aletto offices at Sanborn Square, a new trophy office tower, further enhances its investment potential. While the current build-out is for offices, the space can be easily converted to an open floor plan to suit a variety of retail needs. The lot size is not specified. This is a rare opportunity to secure a highly desirable retail location in one of South Florida's most vibrant and sought-after areas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,270,000
      ML approach
      $2,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,002,000
      Market price range: $1.13M - $3.32M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,035,000
      Current use
      RESTAURANT
      $3,520,000
      Change: +73% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,495,000
      Change: +72% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,520,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,015,000
      Change: -1% Conversion: Moderate
      MEDICAL BUILDING
      $2,010,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,850,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0855
    Latitude
    26.3508
    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
    $36,396
    $1,276,086
    $740,020
    $2,016,106
    -
    $1,276,086
    $740,020
    $2,016,106

    Comparable in this City

    • Value Estimation
      $465,000
      1,803 SF

      364 Palmetto Park Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,803 SF
      364 Palmetto Park Rd, Boca Raton, FL 33432-5000
      View Details
    • Value Estimation
      $460,000
      2,254 SF

      1701 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,254 SF
      1701 Federal Hwy, Boca Raton, FL 33432-7412
      View Details
    • Value Estimation
      $600,000
      7,920 SF

      850 Dixie Hwy

      RETAIL STORES (PERSONAL SERVICES) • 7,920 SF
      850 Dixie Hwy, Boca Raton, FL 33432-1836
      View Details
    • Value Estimation
      $500,000
      8,520 SF

      200 Palmetto Park Rdcu3

      RETAIL STORES (PERSONAL SERVICES) • 8,520 SF
      200 Palmetto Park Rdcu3, Boca Raton, FL 33432-5623
      View Details
    • Value Estimation
      $380,000
      2,120 SF

      250 Dixie Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,120 SF
      250 Dixie Hwy, Boca Raton, FL 33432-3915
      View Details
    • Value Estimation
      $250,000
      550 SF

      555 4th Ave, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 550 SF
      555 4th Ave, Boca Raton, FL 33432-3652
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Upscale Italian Restaurant Opportunity

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    Similar Nearby for Lease

    • $24 SF/Yr
      1,350 SF

      Retail Space in Boca Raton

      Retail space available for lease in Boca Raton, Florida.
      1580 NW 2Nd Ave, Boca Raton, FL 33432
      View Details
    • $45 SF/Yr
      1,206 SF

      Retail Space in Boca Raton

      Retail space available for lease in Boca Raton, Florida.
      2441 N Federal Hwy, Boca Raton, FL 33432
      View Details
    • $45 SF/Yr
      2,515 SF

      Retail Space in Boca Raton

      Retail space available for lease in Boca Raton, Florida.
      831 E Palmetto Park Rd, Boca Raton, FL 33432
      View Details
    • $32 SF/Yr
      3,483 SF

      Retail Space in Boca Raton

      Retail space available for lease in Boca Raton, Florida.
      182 Glades Rd, Boca Raton, FL 33432
      View Details
    • $35 SF/Yr
      2,640 SF

      Retail Space in Boca Raton

      Retail space available for lease in Boca Raton, Florida.
      1949 Nw 2Nd Ave, Boca Raton, FL 33432
      View Details
    • $45 SF/Yr
      4,211 SF

      Retail Space For Rent

      Retail space available for lease in Boca Raton, Florida.
      1000 N Federal Hwy, Boca Raton, FL 33432
      View Details
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    Boca Raton, FL 33432
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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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