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    Property profile & analytics

    1116 Ocean Blvd, Unit 1402 Pompano Beach, FL 33062-4093

    • Commercial land
    • 1,923 SF
    OFF-MARKET
    Last Sale
    Jun 26, 2024
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3955691
    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

    • Solemar Residences | Sales and Rentals / Real Estate Agency

    Property Details for 1116 Ocean Blvd

    Year built
    2023
    Property size
    1,923 SF
    Zone code
    RPUD
    Property type
    Commercial land
    APN
    48-43-30-HA-0580
    APU
    484330HA0580

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $440,000
      6.5%
      $410,000
      7%
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $738,000
      Market price range: $374k - $1.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Pompano Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.0868
    Latitude
    26.2477
    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
    $2,281
    $109,480
    $0.00
    $109,480
    -
    $109,480
    $0.00
    $109,480

    Comparable in this City

    • Value Estimation
      $600,000
      0.26 Acres

      3309 13th St

      VACANT COMMERCIAL LAND • 1,198 SF
      3309 13th St, Pompano Beach, FL 33062-6513
      View Details
    • Value Estimation
      $635,000
      1,928 SF

      1116 Ocean Blvd, Unit MPH05

      VACANT COMMERCIAL LAND • 1,928 SF
      1116 Ocean Blvd, Pompano Beach, FL 33062-4086
      View Details
    • Value Estimation
      $1,490,000
      1,928 SF

      1116 Ocean Blvd, Unit 1005

      VACANT COMMERCIAL LAND • 1,928 SF
      1116 Ocean Blvd, Pompano Beach, FL 33062-4091
      View Details
    • Value Estimation
      $1,480,000
      2,162 SF

      1116 Ocean Blvd, Unit 1104

      VACANT COMMERCIAL LAND • 2,162 SF
      1116 Ocean Blvd, Pompano Beach, FL 33062-4092
      View Details
    • Value Estimation
      $1,445,000
      1,885 SF

      1116 Ocean Blvd, Unit 1403

      VACANT COMMERCIAL LAND • 1,885 SF
      1116 Ocean Blvd, Pompano Beach, FL 33062-4093
      View Details
    • Value Estimation
      $1,675,000
      1,928 SF

      1116 Ocean Blvd, Unit 1505

      VACANT COMMERCIAL LAND • 1,928 SF
      1116 Ocean Blvd, Pompano Beach, FL 33062-4094
      View Details

    Similar Nearby for Sale

    • New
      $1,325,000
      0.26 Acres

      Pompano Beach Redevelopment Opportunity

      0.26-acre site ideal for multifamily redevelopment near Intracoastal.
      500 SE 23Rd Ave, Pompano Beach, FL 33062
      View Details
    • $6,500,000
      0.24 Acres

      Pompano Beach Redevelopment Parcel

      Redevelopment parcel near the beach with flexible zoning.
      2667 E Atlantic Blvd, Pompano Beach, FL 33062
      View Details
    • $1,900,000

      Pompano Beach Commercial Land Investment

      Prime location, high traffic, flexible zoning.
      309 22Nd Ave, Pompano Beach, FL 33062
      View Details
    • $125,000

      Prime Pompano Beach Storefront

      Established Salon, High Traffic Area
      2761 Atlantic Blvd, Pompano Beach, FL 33062
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      0.54 Acres

      Oceanfront Land Hillsboro Shores

      Rare vacant oceanfront parcel in South Florida.
      2100 Bay Dr, Pompano Beach, FL 33062
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    • $17,000,000
      0.96 Acres

      Hillsboro Beach Waterfront Estate Parcel

      Rare 0.96-acre ocean-to-Intracoastal property on Millionaire’s Mile.
      1105 Hillsboro Mile, Hillsboro Beach, FL 33062
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    Similar Nearby for Lease

    • Contact for pricing

      Land for Rent

      Land available for rent in Pompano Beach, Florida.
      552 N Ocean Blvd, Pompano Beach, FL 33062
      View Details
    • Contact for pricing
      59,912 SF

      Pompano Beach Warehouse Space

      59,912 SF warehouse space available for lease.
      2504 NW 19Th St, Pompano Beach, FL 33062
      View Details
    • $7,800 /Mo
      21,780 SF

      Pompano Beach Office/Medical Space

      Approximately 3,000 sq ft office/medical space for lease.
      2231 NE 25Th Ave, Pompano Beach, FL 33062
      View Details
    • Contact for pricing
      1,553 SF

      Pompano Citi Centre Retail Space

      Retail space available within a large shopping center.
      1400 NE 23Rd St, Pompano Beach, FL 33062
      View Details
    • Contact for pricing

      Retail Space with Anchor Tenants

      Retail spaces available in a high-traffic shopping center.
      Pompano Beach, FL 33062
      View Details
    • $3,177 /Mo

      Spacious Apartment with Den

      Two-bedroom apartment with den, modern amenities, and community features.
      208 N Federal Hwy, Pompano Beach, FL 33062
      View Details
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    Pompano Beach, FL 33062-4093
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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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