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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office buildings
223 Commercial Blvd Lauderdale By The Sea, FL 33308-4441
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-3633227
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
CONCRETE
Total area
880 SF
Lot
0.07 ac (3,001 SF)
Zoning code
B-1
APN
49-43-18-07-0360
UPID
US18-3633227
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
by Request
CAP Approach
CAP
$415k
Comparable Approach
Comparable
$703k
Blend (final)
Blend
$690k
Owner & transaction history
Karia Global LLC · 5 yrs held
Karia Global LLC
since 2020
Last sale
$695,000
2 recorded transactions
Zoning & alternative use
B-1 · Lauderdale By The Sea, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
Retail Business
General category
COMMERCIAL
Zone area
26.18 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$715,000
+41.2%
Neighborhood: shopping center
$660,000
+31.1%
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 Lauderdale By The Sea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lauderdale By The Sea 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%
$450,000
6.5%
$415,000
7%
$385,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$505,000
Current use
AUTO REPAIR, GARAGE
$715,000
Change: +41% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$660,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $695k (Oct 20 2020)
Last sale anchor
$695k
Oct 20 2020
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
$784 / 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
$12,263
Tax year 2023
Assessed value
$680,980
Assessed 2023
Previous assessed
$680,980
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$150,260
Assessed improvement
$530,720
Land market value
$150,260
Improvement market value
$530,720
Total market value
$680,980
Applied tax rate
211.0000
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
Status
Off-Market
Year built
1982
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
880 SF
Lot
0.07 ac (3,001 SF)
Zoning code
B-1
APN
49-43-18-07-0360
UPID
US18-3633227
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Lauderdale By The Sea, FLZoning B-1 · permitted uses
B-1 · Lauderdale By The Sea, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
Retail Business
General category
COMMERCIAL
Zone area
26.18 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$715,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$660,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1982
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Karia Global LLC
Entity
Free & Clear · 5 yrs held
Mailing address
5065 STILLWATER TER, COOPER CITY, FL 33330-2754
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2020
$695,000
Karia Global LLC
Nova Maritime
Warranty Deed
—
Jun 10, 1998
$185,000
Nova Maritime
Sindicich,nicholas J & Dorothy M
Grant Deed
$158,000 · Seller
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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