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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2120 Mears Pkwy, Unit 2178 Margate, FL 33063-3755

    • Warehouses
    • 17,433 SF
    • 1.41 lot acres
    OFF-MARKET
    Last Sale
    Mar 18, 2022
    $10,850,000
    Value Estimations
    $9,485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0769998
    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

    • Warehouses

    Property Details for 2120 Mears Pkwy

    Year built
    1979
    Construction
    CONCRETE
    Lot size
    1.41 lot acres
    Property size
    17,433 SF
    Zone code
    TOC-C
    Property type
    Warehouses
    APN
    48-42-30-01-0083
    APU
    484230010083

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,160,000
      ML approach
      $8,470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,463,000
      Market price range: $3.66M - $10.6M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $7,300,000
      Current use
      RESTAURANT
      $14,625,000
      Change: +100% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $12,795,000
      Change: +75% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $11,385,000
      Change: +56% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $10,805,000
      Change: +48% Conversion: Easy
      COMMERCIAL (GENERAL)
      $9,180,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $6,120,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.1996
    Latitude
    26.2512
    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
    $62,231
    $431,400
    $2,353,160
    $2,784,560
    -
    $431,400
    $2,353,160
    $2,784,560

    Comparable in this City

    • Value Estimation
      $855,000
      15,548 SF

      1790 Mears Pkwy

      WAREHOUSE, STORAGE • 15,548 SF
      1790 Mears Pkwy, Margate, FL 33063-3749
      View Details
    • Value Estimation
      $1,115,000
      29,842 SF

      5500 15th St

      MINI-WAREHOUSE, STORAGE • 29,842 SF
      5500 15th St, Margate, FL 33063-3763
      View Details
    • Value Estimation
      $770,000
      34,869 SF

      5100 15th St, Unit 5160

      WAREHOUSE, STORAGE • 34,869 SF
      5100 15th St, Margate, FL 33063-3774
      View Details
    • Value Estimation
      $4,100,000
      1,792 SF

      5449 24th St Ste, Unit 3

      WAREHOUSE, STORAGE • 1,792 SF
      5449 24th St Ste, Margate, FL 33063-7774
      View Details
    • Value Estimation
      $695,000
      3,600 SF

      5603 8th St

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      5603 8th St, Margate, FL 33063-4505
      View Details
    • Value Estimation by Request
      6,760 SF

      5633 8th St

      WAREHOUSE, STORAGE • 6,760 SF
      5633 8th St, Margate, FL 33063-4505
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Margate Industrial Warehouse For Sale

      Spacious Warehouse, Fully Equipped, Prime Location
      1753 Banks Rd, Margate, FL 33063
      View Details
    • $145,000

      Margate Manufacturing Business For Sale

      Established Carpentry Shop, Turnkey Operation
      1880 Mears Pkwy, Margate, FL 33063
      View Details
    • Contact for pricing
      0.19 Acres

      Margate Retail Space - High Traffic

      Prime Margate Retail, High Visibility, Sale/Lease
      525 State Road 7, Margate, FL 33063
      View Details
    • $795,000
      4,500 SF

      Margate Flex Office/Warehouse Space

      Prime Margate location, 4,500 sq ft, lease/buy.
      1735 Banks Rd, Margate, FL 33063
      View Details
    • Contact for pricing
      6.62 Acres

      Margate Retail Spaces - Prime Location

      High-traffic retail spaces available. Multiple sizes.
      1360 State Road 7, Margate, FL 33063
      View Details
    • $1,100,000
      1,400 SF

      High-Visibility Retail Corner Lot

      Margate, FL: Prime Retail Opportunity
      5300 Coconut Creek Pkwy, Margate, FL 33063
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,704 SF

      Margate Flex Space Warehouse

      Multi-tenant flex space in Margate Industrial Warehouse Park.
      2030 Mears Pkwy, Margate, FL 33063
      View Details
    • $19 SF/Yr
      12,000 SF

      Central Broward Warehouse Space

      Margate, FL industrial warehouse suites.
      1901 Mears Pkwy, Margate, FL 33063
      View Details
    • $2,100,000
      7,200 SF

      Margate Office/Warehouse Condo Units

      Pristine office/warehouse complex with four individual condo units.
      5453 NW 24Th St, Pompano Beach, FL 33063
      View Details
    • $4,700 /Mo

      Margate Flex Warehouse For Lease

      Flex warehouse space available for lease in Margate, Florida.
      1723 Banks Rd, Margate, FL 33063
      View Details
    • $3,420 /Mo
      1,642 SF

      Margate Warehouse in Banks Business Park

      Spacious warehouse in Margate's Banks Business Park available for lease.
      1773 Banks Rd, Margate, FL 33063
      View Details
    • $0.63 SF/Yr
      11,500 SF

      Atlantic Blvd Commercial Suite

      Prime Atlantic Blvd Office Space, 112 SF
      6101 Atlantic Blvd, Margate, FL 33063
      View Details
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    Margate, FL 33063-3755
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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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