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Property profile & analytics
OFF-MARKET
Estimated value
$9,560,000
Warehouses
2120 Mears Pkwy 2178, Margate, FL 33063-3755
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-0769998
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Construction
CONCRETE
Total area
17,433 SF
Lot
1.41 ac (61,628 SF)
Zoning code
TOC-C
APN
48-42-30-01-0083
UPID
US18-0769998
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.46M
Blend (final)
Blend
$9.56M
Owner & transaction history
1801 1835 Mears Parkway LLC · 4 yrs held
1801 1835 Mears Parkway LLC
since 2022
Last sale
$10.9M
5 recorded transactions
Zoning & alternative use
TOC-C · Margate, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.6M
+100.4%
Auto repair, garage
$12.8M
+75.3%
Neighborhood: shopping center
$11.4M
+56.0%
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 Margate submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Margate 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
$10,160,000
ML approach
$8,470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$9.56M
Range $8.60M – $10.52M · ±10% · vs last sale $10.85M (Mar 18 2022)
Last sale anchor
$10.85M
Mar 18 2022
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
$548 / 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
$62,231
Tax year 2023
Assessed value
$2,784,560
Assessed 2023
Previous assessed
$1,766,290
+57.7% YoY
Effective rate
2.23%
On assessed value
Assessed land
$431,400
Assessed improvement
$2,353,160
Land market value
$431,400
Improvement market value
$2,353,160
Total market value
$2,784,560
Applied tax rate
1,212.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
17,433 SF
Lot
1.41 ac (61,628 SF)
Zoning code
TOC-C
APN
48-42-30-01-0083
UPID
US18-0769998
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
TOC-C · Margate, FL
Zoning TOC-C · permitted uses
TOC-C · Margate, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Margate. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.3M
RESTAURANT
Est. value
$14.6M
AUTO REPAIR, GARAGE
Est. value
$12.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.4M
INDUSTRIAL (GENERAL)
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$9.2M
MEDICAL BUILDING
Est. value
$6.1M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1979
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
1801 1835 Mears Parkway LLC
Entity
Mailing address
210 SW 15TH ST, FORT LAUDERDALE, FL 33315-1705
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
$10,850,000
1801 1835 Mears Parkway LLC
Mears Commerce Center LLC
Warranty Deed
$5,250,000 · Parkway Commerce Center LLC
Jan 28, 2002
$1,148,600
Parkway Commerce Center LLC
Mccarty,richard D & Claire B
Quit Claim Deed
related
—
—
—
Parkway Commerce Center LLC
—
Deed Of Trust
related
$1,800,000 · First Southern Bank
—
—
Parkway Commerce Center LLC
—
Deed Of Trust
related
$2,900,000 · Ocean Bank
—
—
Parkway Commerce Center LLC
—
Deed Of Trust
related
$1,739,571 · First Southern Bank
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.
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