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

    2229 Commerce Pkwy Weston, FL 33326

    • Office buildings
    • 32,559 SF
    • 3.08 lot acres
    For Lease
    View listing
    $29 SF/Yr
    Last Sale
    Aug 31, 2021
    $17,218,300
    Value Estimations
    $19,280,000
    Cap Rate Potential
    4.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-3737311
    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

    • Office buildings

    Property Details for 2229 Commerce Pkwy

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    3.08 lot acres
    Property size
    32,559 SF
    Zone code
    O-1
    Property type
    Office buildings
    APN
    50-40-17-02-0371
    APU
    504017020371

    Description

    This exceptional two-story, 30,100 square foot Class B medical office building is situated on a 3.08-acre lot in the thriving city of Weston, Florida. Built in 1999, the property boasts a single building with multiple tenants, offering a diverse and established medical presence. Currently, the building houses a dynamic mix of medical professionals, including a surgery center, imaging group, physical therapy practice, and dermatology clinic, demonstrating strong tenant demand and a stable occupancy rate. The building features convenient amenities such as elevators. One suite of 1,600 square feet is currently available, presenting a unique opportunity for expansion or relocation within a well-established medical community. The property's location at 2229 N Commerce Pkwy, Weston, FL 33326, provides excellent visibility and accessibility within Broward County. This is an ideal investment for medical professionals seeking a turnkey operation in a high-demand area. The property's strong tenant mix and established presence make it a compelling opportunity for long-term growth and return. The available suite provides immediate occupancy potential for a variety of medical practices.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $21,975,000
      ML approach
      $11,670,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,630,000
      6.5%
      $15,350,000
      7%
      $14,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,201,000
      Market price range: $8.55M - $30.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $15,415,000
      Current use
      RESTAURANT
      $27,810,000
      Change: +80% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $26,385,000
      Change: +71% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $24,500,000
      Change: +59% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $16,865,000
      Change: +9% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $15,300,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $15,170,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Weston
    County
    Broward
    State
    Florida
    Longitude
    -80.3687
    Latitude
    26.0926
    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
    $228,662
    $1,208,590
    $8,758,190
    $9,966,780
    -
    $1,208,590
    $8,758,190
    $9,966,780

    Comparable in this City

    • Value Estimation
      $920,000
      6,601 SF

      1835 Corporate Lks Blvd

      PROFESSIONAL BUILDING • 6,601 SF
      1835 Corporate Lks Blvd, Weston, FL 33326-3211
      View Details
    • Value Estimation
      $775,000
      11,446 SF

      1830 Main St

      OFFICE BUILDING (MULTI-STORY) • 11,446 SF
      1830 Main St, Weston, FL 33326-3684
      View Details
    • Value Estimation
      $1,090,000
      73,660 SF

      510 Shotgun Rd

      OFFICE BUILDING (MULTI-STORY) • 73,660 SF
      510 Shotgun Rd, Sunrise, FL 33326-1956
      View Details
    • Value Estimation
      $1,000,000
      100,080 SF

      2100 Commerce Pkwy

      OFFICE BUILDING (MULTI-STORY) • 100,080 SF
      2100 Commerce Pkwy, Weston, FL 33326-3234
      View Details
    • Value Estimation
      $1,260,000
      99,752 SF

      2200 Commerce Pkwy

      OFFICE BUILDING (MULTI-STORY) • 99,752 SF
      2200 Commerce Pkwy, Weston, FL 33326-3258
      View Details
    • Value Estimation
      $430,000
      5,898 SF

      1875 Corporate Lks Blvd

      OFFICE BUILDING • 5,898 SF
      1875 Corporate Lks Blvd, Weston, FL 33326-3270
      View Details

    Similar Nearby for Sale

    • $1,950,000
      0.47 Acres

      Freestanding Office Building in Weston

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      Weston Office Property For Sale

      Two-building office property in Weston, Florida, near amenities.
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      Weston Office Building For Sale

      Prime Weston location, 6,601 sq ft office building.
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    • Contact for pricing

      Flex Space in Business Park

      Versatile flex space with office and warehouse components.
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      View Details
    • Contact for pricing

      Professional Office Space Available

      Office space in a professional business park with full service.
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      View Details
    • Contact for pricing

      Weston Co-working Private Office

      Private co-working office in Weston with included amenities.
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      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      13,290 SF

      Weston Office Campus For Rent

      Two-building office campus with walkable amenities and ample parking.
      2000 Ultimate Way, Weston, FL 33326
      View Details
    • $1.82 SF/Yr
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      Weston Office Suite: Main Street

      9,547 sq ft Office Space, Main Street Weston
      1825 Main St, Weston, FL 33326
      View Details
    • $1.19 SF/Yr
      9,547 SF

      Weston Office Space: Main Street

      9,547 sq ft Office Suite, Prime Weston Location
      1825 Main St, Weston, FL 33326
      View Details
    • $24 SF/Yr
      28,010 SF

      Weston Trace Office Suites

      Class A Office Space, Weston, FL
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      View Details
    • $25 SF/Yr
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      Weston Office Space for Lease

      Prime Weston Office, Multiple Suites Available
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      View Details
    • $35 SF/Yr
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      Luxury Weston Office Sublease

      2,035 sq ft, Furnished Option Available
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      View Details
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    2229 Commerce Pkwy
    Weston, FL 33326
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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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