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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Manufacturing properties
2324 56th Ter West Park, FL 33023-4019
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-1928805
Property summary
AI-generated overview
This renovated 3,900-square-foot warehouse offers a single-tenant occupancy in a desirable M-2 zoned location. The property features a 12-foot ceiling height, enhancing storage and operational efficiency. Access is provided by two front-facing garage doors, convenient for loading and unloading. Ample parking is available with approximately ten spaces situated in front of the building. The space is equipped for industrial use with 3-phase electricity and two electrical panels. A recent 40-year building inspection has been successfully completed. The included office area provides central air conditioning and two bathrooms for employee comfort. This property is perfect for light manufacturing and various industrial uses, including automotive-related businesses, as permitted by the M-2 zoning designation. The tenant is responsible for all utilities, and a 3% sales tax applies. The property's single-story design and single-suite layout offer simplicity and ease of management. The APN is 514124020441.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1964
Construction
CONCRETE
Total area
3,900 SF
Lot
0.12 ac (5,391 SF)
Zoning code
M-2
APN
51-41-24-02-0441
UPID
US18-1928805
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
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$965k
Owner & transaction history
Luna Nursery LLC · 1 yrs held
Luna Nursery LLC
since 2025
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
M-2 · West Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 West Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Park 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
$895,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $1.05M (Nov 6 2024)
Last sale anchor
$1.05M
Nov 6 2024
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
$247 / 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
$8,837
Tax year 2023
Assessed value
$409,820
Assessed 2023
Previous assessed
$347,830
+17.8% YoY
Effective rate
2.16%
On assessed value
Assessed land
$37,740
Assessed improvement
$372,080
Land market value
$37,740
Improvement market value
$372,080
Total market value
$409,820
Applied tax rate
3,513.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1964
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
3,900 SF
Lot
0.12 ac (5,391 SF)
Zoning code
M-2
APN
51-41-24-02-0441
UPID
US18-1928805
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
M-2 · West Park, FL
Zoning M-2 · permitted uses
M-2 · West Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Park. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1964
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Luna Nursery LLC
Entity
Mailing address
2324 SW 56TH TER, WEST PARK, FL 33023-4019
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
$1,050,000
Luna Nursery LLC
2324 Sw 56th Terrace LLC
Warranty Deed
$850,000 · 2324 Sw 56th Terrace LLC
Jun 5, 2023
$850,000
2324 Sw 56th Terrace LLC
Leonard Herrera
Warranty Deed
—
Jul 7, 2003
$200,000
Leonard-mercedes Herrera
Briosi,tr
Grant Deed
$70,000 · Briosi Trust
—
—
Leonard Herrera
—
Deed Of Trust
related
$236,000 · Regions 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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