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Property profile & analytics
FOR LEASE
Office buildings
185 NW Spanish River Blvd Boca Raton, FL 33431
Individually Owned
5-yr Hold
Free & Clear
Property ID
US18-2572112
For Lease
1 / 2
$26 SF/Yr
185 NW Spanish River Blvd, Boca Raton, FL 33431
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1985
Construction
CONCRETE
Total area
37,553 SF
Lot
2.67 ac (116,427 SF)
Zoning code
M-1
APN
06-43-47-07-02-031-0010
UPID
US18-2572112
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
FlashBanc Business Service Center
-
springbig (Bike/Boat/Book/etc) Store Corporate Office
-
FedEx Drop Box Postal Service Courier Service
-
Spanish River Executive Plaza Department Store Shopping Center & Mall
-
Dealpeak Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.63M
Owner & transaction history
Jeffrey Sandelman · 5 yrs held
Jeffrey Sandelman
since 2021
4 recorded transactions
Zoning & alternative use
M-1 · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,695,000
6.5%
$16,335,000
7%
$15,165,000
Blend value · Realmo final
$13.63M
Range $12.26M – $14.99M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$363 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$124,467
Tax year 2023
Assessed value
$6,432,285
Assessed 2023
Previous assessed
$5,921,831
+8.6% YoY
Effective rate
1.94%
On assessed value
Assessed land
$1,630,006
Assessed improvement
$4,802,279
Land market value
$1,630,006
Improvement market value
$4,802,279
Total market value
$6,432,285
Applied tax rate
6,154.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1985
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
37,553 SF
Lot
2.67 ac (116,427 SF)
Zoning code
M-1
APN
06-43-47-07-02-031-0010
UPID
US18-2572112
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
M-1 · Boca Raton, FL
Zoning M-1 · permitted uses
M-1 · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.67 ac
Current owner
From public records · entity-resolved
Jeffrey Sandelman
Individual
Free & Clear · 5 yrs held
Mailing address
185 NW SPANISH RIV BLVD STE #100, BOCA RATON, FL 33431-4230
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2021
—
Jeffrey Sandelman
Thomas Mayman
Quit Claim Deed
related
—
Oct 2, 2009
—
Aneff LLC
Aneff Trust
Quit Claim Deed
—
Aug 25, 2009
—
Fundamentals Co LLC
Fundamentals Co Trust
Quit Claim Deed
—
—
—
Spanish River Exec Plaza Ltd
—
Deed Of Trust
related
$2,400,000 · Southtrust Bank Of Alabama
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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