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Property profile & analytics
FOR LEASE
Retail residential properties
229 Commercial Blvd Lauderdale by the Sea, FL 33308
Entity Owned
13-yr Hold
Free & Clear
Property ID
US18-4621678
For Lease
1 / 7
$3,500/Mo
229 Commercial Blvd, Lauderdale by the Sea, FL 33308
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Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1966
Construction
CONCRETE
Total area
5,091 SF
Lot
0.09 ac (4,000 SF)
Zoning code
B-1
APN
49-43-18-07-0400
UPID
US18-4621678
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
$1.20M
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.70M
Owner & transaction history
Sabatini Investments LLC · 13 yrs held
Sabatini Investments LLC
since 2013
1 recorded transaction
Zoning & alternative use
B-1 · Lauderdale By The Sea, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.4M
+11.0%
Medical building
$2.4M
+10.0%
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 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%
$1,300,000
6.5%
$1,200,000
7%
$1,115,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,155,000
Current use
INDUSTRIAL (GENERAL)
$2,390,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$2,370,000
Change: +10% · Conversion: Easy
WAREHOUSE, STORAGE
$1,770,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10%
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
$334 / 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
$18,188
Tax year 2023
Assessed value
$928,920
Assessed 2023
Previous assessed
$928,920
+0.0% YoY
Effective rate
1.96%
On assessed value
Assessed land
$200,280
Assessed improvement
$728,640
Land market value
$200,280
Improvement market value
$728,640
Total market value
$928,920
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
1966
Construction
CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Bathrooms
4
Total area
5,091 SF
Lot
0.09 ac (4,000 SF)
Zoning code
B-1
APN
49-43-18-07-0400
UPID
US18-4621678
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Lauderdale By The Sea, FL
Zoning 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
Lauderdale By The Sea. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$1.8M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1966
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
4
Lot
0.09 ac
Current owner
From public records · entity-resolved
Sabatini Investments LLC
Entity
Free & Clear · 13 yrs held
Mailing address
4614 SEAGRAPE DR, LAUDERDALE BY THE SEA, FL 33308-3524
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2013
—
Sabatini Investments LLC
Sabatini,luciani
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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