Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11509 Palmetto Park Rd Boca Raton, FL 33428-2606

    • Grocery and convenience stores
    • 2,554 SF
    • 1.09 lot acres
    OFF-MARKET
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    8.2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US18-3788746
    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

    • BudgetCoinz Bitcoin ATM / Atm / Crypto Atm
    • T1 HVAC.Repair.Services.Group Inc / Hardware & Home Improvement / HVAC Service
    • Q&T F.i.r.e/W.a.t.e.r-D.a.m.a.g.e-Restoration-Service-Co / Corporate Office / Business Park
    • Cardtronics ATM / Atm
    • Localcoin Bitcoin ATM - Chevron / Atm / Currency Exchange Service

    Property Details for 11509 Palmetto Park Rd

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    1.09 lot acres
    Property size
    2,554 SF
    Zone code
    RE
    Property type
    Grocery and convenience stores
    APN
    00-41-47-23-08-002-0000
    APU
    414723080020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $820,000
      6.5%
      $755,000
      7%
      $700,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $635,000
      Market price range: $359k - $636k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,010,000
      Current use
      RETAIL STORES
      $1,020,000
      Change: +1% Conversion: Easy
      MEDICAL BUILDING
      $1,005,000
      Change: -0% Conversion: Difficult
      WAREHOUSE, STORAGE
      $875,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.2272
    Latitude
    26.3489
    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
    $40,692
    $1,765,426
    $529,028
    $2,294,454
    -
    $1,765,426
    $529,028
    $2,294,454

    Comparable in this City

    • Value Estimation
      $6,855,000
      41,130 SF

      22973 State Rd 7th 7

      GROCERY, SUPERMARKET • 41,130 SF
      22973 State Rd 7th 7, Boca Raton, FL 33428-5400
      View Details
    • Value Estimation
      $7,050,000
      38,280 SF

      11650 Palmetto Park Rd

      GROCERY, SUPERMARKET • 38,280 SF
      11650 Palmetto Park Rd, Boca Raton, FL 33428-2501
      View Details
    • Value Estimation
      $765,000
      3,337 SF

      23077 State Rd 7th 7

      CONVENIENCE STORE • 3,337 SF
      23077 State Rd 7th 7, Boca Raton, FL 33428-5469
      View Details
    • Value Estimation
      $12,450,000
      1,292 SF

      21755 El Bosque Way

      SHOW ROOM, WAREHOUSE • 1,292 SF
      21755 El Bosque Way, Boca Raton, FL 33428-2827
      View Details
    • Value Estimation
      $570,000
      3,456 SF

      11431 Palmetto Park Rd

      FINANCIAL BUILDING • 3,456 SF
      11431 Palmetto Park Rd, Boca Raton, FL 33428-2659
      View Details
    • Value Estimation
      $1,060,000
      2,168 SF

      11185 Palmetto Park Rd

      SHOW ROOM, WAREHOUSE • 2,168 SF
      11185 Palmetto Park Rd, Boca Raton, FL 33428-2631
      View Details

    Similar Nearby for Sale

    • $39,000

      Turnkey Hair Salon For Sale

      Established hair salon in West Boca Raton shopping center.
      11395 W Palmetto Park Rd, Boca Raton, FL 33428
      View Details
    • $6,500,000
      1.35 Acres

      Boca Raton Retail Opportunity

      Retail property in Boca Raton's Sandalfoot Retail Corridor.
      23133 Sandalfoot Plaza Dr, Boca Raton, FL 33428
      View Details
    • $10,950,000
      31,138 SF

      Boca Raton Medical Office Building

      Fully leased medical office building with development potential in Boca Raton.
      21020 State Road 7, Boca Raton, FL 33428
      View Details
    • $150,000

      Elegant Med Spa Business Opportunity

      Med spa in Boca Raton specializing in non-invasive treatments.
      Boca Raton, FL 33428
      View Details
    • $850,000

      Boca Raton Portfolio Opportunity

      Three manufactured homes on owned land in Boca Raton.
      23138 Surf Rd Rd, Boca Raton, FL 33428
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      52,000 SF

      Boca Raton Retail Opportunity

      Large retail space available in Boca Raton with high visibility.
      21759 State Road 7, Boca Raton, FL 33428
      View Details
    • $37 SF/Yr
      900 SF

      Retail Space in Boca Raton

      Retail space available in residential Boca Raton with high income.
      11640-11650 W Palmetto Park Rd, Boca Raton, FL 33428
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space Near Bravo Supermarket

      Retail space available near a new Bravo Supermarket.
      11379-11443 W Palmetto Park Rd, Boca Raton, FL 33428
      View Details
    • $35 SF/Yr
      2,250 SF

      Retail Space For Rent

      Retail space available for lease in Boca Raton, Florida.
      23032-23182 Sandalfoot Plaza Dr, Boca Raton, FL 33428
      View Details
    • Contact for pricing
      117,597 SF

      Boca Raton Retail Plaza

      Prime Boca Raton retail space available.
      0 Lyons Rd. & Glades Rd, Boca Raton, FL 33428
      View Details
    • $40 SF/Yr
      622 SF

      Boca Raton Office Space

      Office space available for lease in Boca Raton, Florida.
      23123 State Road 7, Boca Raton, FL 33428
      View Details

    Property Visit Statistics

    • Visits by month
      30.6k
    • Visitors by month
      15.9k
    • Avg Time on site
      9 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11509 Palmetto Park Rd
    Boca Raton, FL 33428-2606
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.