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    218 Commercial Blvd, Unit 108 Lauderdale by the Sea, FL 33308
    Property profile & analytics

    218 Commercial Blvd, Unit 108 Lauderdale by the Sea, FL 33308

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    • Investment properties
    • 19,664 SF
    • 0.36 lot acres
    For Lease
    $4,990,000
    View Listing →
    Seagrape Commons: Retail, Office, Restaurant For Lease
    $4,990,000

    Seagrape Commons: Retail, Office, Restaurant

    Iconic building near the beach with retail, office, restaurant options.

    218 Commercial Boulevard, Fort Lauderdale, FL 33308
    View Listing
    Property ID
    US18-4658467
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 218 Commercial Blvd

    Year built
    1972
    Construction
    CONCRETE
    Lot size
    0.36 lot acres
    Property size
    19,664 SF
    Zone code
    B-1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    49-43-18-01-3550
    APU
    494318013550

    Description

    Seagrape Commons, a highly visible Class B building in Oakland Park, Florida (33334), offers 5,486 square feet of vacant creative office space. Located at 218-222 E Commercial Boulevard, this multi-tenant property boasts a prime location just a three-block walk from the beach in Lauderdale-by-the-Sea. The building features a mix of retail, office, and restaurant spaces, creating a vibrant and convenient environment. Units range from a minimum of 264 square feet to a maximum contiguous space of 2,195 square feet, providing flexibility for various business needs. Amenities include ample parking and expansive natural light. The property is situated near popular local businesses such as Basilic, Billy Jack's Pump Sushi, and Dr. Juice, ensuring high visibility and foot traffic. The open floor plans and competitive rates make this an attractive opportunity for businesses seeking a unique and desirable location. Several suites are currently available. This is a retail and office property with full-size spaces and executive office suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,030,000
      6.5%
      $4,640,000
      7%
      $4,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,889,000
      Market price range: $3.37M - $13.0M
      AI Estimate
      $5,433,000
      Market price range: $2.67M - $14.9M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $6,845,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lauderdale By The Sea
    County
    Broward
    State
    Florida
    Longitude
    -80.0979
    Latitude
    26.1896
    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
    $49,677
    $775,030
    $1,683,000
    $2,458,030
    -
    $775,030
    $1,683,000
    $2,458,030

    Comparable in this City

    • Value Estimation
      $1,125,000
      2,681 SF

      2460 Commercial Blvd

      STORE/OFFICE (MIXED USE) • 2,681 SF
      2460 Commercial Blvd, Fort Lauderdale, FL 33308-4093
      View Details
    • Value Estimation
      $1,130,000
      2,506 SF

      2430 Commercial Blvd

      STORE/OFFICE (MIXED USE) • 2,506 SF
      2430 Commercial Blvd, Fort Lauderdale, FL 33308-4040
      View Details
    • Value Estimation
      $795,000
      2,075 SF

      3209-3211 Ocean Blvd

      STORE/OFFICE (MIXED USE) • 2,075 SF
      3209-3211 Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • Value Estimation
      $815,000
      1,825 SF

      3213-3217 Ocean Blvd

      STORE/OFFICE (MIXED USE) • 1,825 SF
      3213-3217 Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • Value Estimation
      $19,885,000
      53,253 SF

      5975 Federal Hwy

      STORE/OFFICE (MIXED USE) • 53,253 SF
      5975 Federal Hwy, Fort Lauderdale, FL 33308-2690
      View Details
    • Value Estimation
      $3,095,000
      9,083 SF

      3315 Oakland Park Blvd, Unit 3337

      STORE/OFFICE (MIXED USE) • 9,083 SF
      3315 Oakland Park Blvd, Fort Lauderdale, FL 33308-7202
      View Details

    Similar Nearby for Sale

    • $1,444,800
      3,612 SF

      Mixed-Use Property in Coastal District

      Mixed-use property with retail and residential units in Fort Lauderdale.
      3345-3347 NE 32Nd Ave, Fort Lauderdale, FL 33308
      View Details
    • $5,399,000
      9,000 SF

      Waterfront Mixed-Use Building For Sale

      Three-story mixed-use building with waterfront views in Lauderdale-by-the-Sea.
      240 Commercial Blvd, Lauderdale by the Sea, FL 33308
      View Details
    • $260,000

      Renovated Office Space Near Ocean

      Turnkey office suite in mixed-use building, steps from the ocean.
      3015 N Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • $12,000,000
      44,564 SF

      Fort Lauderdale Medical Office Building

      Prime Medical/Office Space, High Income Potential
      6245 Federal Hwy, Fort Lauderdale, FL 33308
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    Similar Nearby for Lease

    • $3,500 /Mo

      Salon Space in High Demand Area

      Well-located salon space with existing infrastructure in Fort Lauderdale.
      3324 NE 33Rd St, Fort Lauderdale, FL 33308
      View Details
    • $28 SF/Yr
      7,405 SF

      Fort Lauderdale Office Space Available

      Versatile office spaces for lease on N Federal Hwy.
      5170 N Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing

      Seagrape Commons: Retail, Office, Restaurant

      Iconic building near the beach with retail, office, restaurant options.
      218 Commercial Blvd, Fort Lauderdale, FL 33308
      View Details
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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.

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