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    120 East Palmetto Park Rd Boca Raton, FL 33432

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    120 East Palmetto Park Rd Boca Raton, FL 33432

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    • Medical Office Space
    • 4,640 SF
    • 0.41 lot acres
    For Lease
    $70 SF/Yr
    View Listing →
    Renovated Office Space For Rent For Lease
    $70 SF/Yr
    1,668 SF

    Renovated Office Space For Rent

    Recently renovated office space with parking near Mizner Park.

    120 East Palmetto Park Road, Boca Raton, FL 33432
    View Listing
    Property ID
    US18-3363997
    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.
    Value Estimations
    $620,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CRC / Insurance Agency
    • Fifth Third Securities - Fabrizio Sanchez / Financial Advisor
    • FedEx Drop Box / Postal Service / Courier Service
    • Kurtzman And Salama Mds / Ophthalmologist
    • The William W. And Anna Louise Young Foundation, Inc. / Charitable Organization / Social Service Agency

    Property Details for 120 East Palmetto Park Rd

    Year built
    1972
    Construction
    CONCRETE
    Lot size
    0.41 lot acres
    Property size
    4,640 SF
    Zone code
    DDRI
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    06-43-47-30-04-000-0010
    APU
    6434730040000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $442,000
      Market price range: $181k - $594k

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0886
    Latitude
    26.3502
    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
    $37,325
    $1,483,440
    $528,507
    $2,011,947
    -
    $1,483,440
    $528,507
    $2,011,947

    Comparable in this City

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      15,338 SF

      1445 2nd Ave

      MEDICAL BUILDING • 15,338 SF
      1445 2nd Ave, Boca Raton, FL 33432-1658
      View Details
    • Value Estimation
      $2,170,000
      5,216 SF

      1786 2nd Ave

      MEDICAL BUILDING • 5,216 SF
      1786 2nd Ave, Boca Raton, FL 33432-1653
      View Details
    • Value Estimation
      $985,000
      6,986 SF

      1401 Federal Hwy

      MEDICAL BUILDING • 6,986 SF
      1401 Federal Hwy, Boca Raton, FL 33432-1925
      View Details
    • Value Estimation
      $705,000
      4,947 SF

      1001 Federal Hwy

      MEDICAL BUILDING • 4,947 SF
      1001 Federal Hwy, Boca Raton, FL 33432-2741
      View Details
    • Value Estimation
      $570,000
      4,287 SF

      162 Palmetto Park Rd

      MEDICAL BUILDING • 4,287 SF
      162 Palmetto Park Rd, Boca Raton, FL 33432-3828
      View Details
    • Value Estimation by Request
      2,772 SF

      950 Dixie Hwy

      MEDICAL BUILDING • 2,772 SF
      950 Dixie Hwy, Boca Raton, FL 33432-1831
      View Details

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    • Contact for pricing

      Walgreens Anchored Shopping Center

      26,840 SF shopping center anchored by Walgreens.
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      3,600 SF

      Downtown Boca Raton Commercial Building

      3,600 SF commercial building in downtown Boca Raton, Florida.
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      Pending

      Office Space on Federal Hwy

      Turn-key office space in Royal Palm Place Plaza.
      310 S Federal Hwy, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      3,600 SF

      Downtown Boca Raton Commercial Building

      3,600 SF commercial building in downtown Boca Raton, Florida.
      303 NW 1St Ave, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      12,315 SF

      Boca Raton Office Space

      Office space near Brightline, Mizner Park, and Downtown Boca Raton.
      140 Nw 4Th St, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      4,214 SF

      Boca Raton Freestanding Commercial Building

      Freestanding commercial building in downtown Boca Raton.
      101 NW 3Rd St, Boca Raton, FL 33432
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,135 SF

      Class A Medical Space

      Medical space for rent near Boca Raton Regional Hospital.
      620-686 Glades Rd, Boca Raton, FL 33432
      View Details
    • $25 SF/Yr

      Warehouse with Built-Out Office

      2500 SF warehouse featuring 1000 SF of office space.
      1501 NW 1St Ct, Boca Raton, FL 33432
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Single tenant office and retail space for rent.
      1000 N Federal Hwy, Boca Raton, FL 33432
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      2,648 SF

      Boca Raton Office Space

      Office space available for lease in Boca Raton, Florida.
      7601 N Federal Hwy, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      2,954 SF

      Downtown Boca Raton Office Space

      Move-in ready office suites with flexible workspace memberships available.
      980 N Federal Hwy, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      1,450 SF

      Office Space in Boca Raton

      Office space available for lease in Boca Raton, Florida.
      303 Southeast Mizner Blvd, Boca Raton, FL 33432
      View Details
    View Listing
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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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    120 East Palmetto Park Rd, Boca Raton, FL, 33432

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