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

    234 Commercial Blvd Lauderdale By The Sea, FL 33308-4438

    • Drug stores
    • 2,240 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2021
    $765,000
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    4.1%
    Drug stores
    Location Intelligence
    Property ID
    US18-3091795
    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

    • Drug stores

    Property Details for 234 Commercial Blvd

    Year built
    1975
    Construction
    CONCRETE
    Lot size
    0.09 lot acres
    Property size
    2,240 SF
    Zone code
    B-1
    Property type
    Drug stores
    APN
    49-43-18-05-0130
    APU
    494318050130

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000
      ML approach
      $910,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $665,000
      6.5%
      $615,000
      7%
      $570,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $891,000
      Market price range: $521k - $950k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $750,000
      Current use
      OFFICE BUILDING
      $1,285,000
      Change: +72% Conversion: Easy
      MEDICAL BUILDING
      $1,045,000
      Change: +39% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $950,000
      Change: +27% Conversion: Easy
      WAREHOUSE, STORAGE
      $780,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lauderdale By The Sea
    County
    Broward
    State
    Florida
    Longitude
    -80.0995
    Latitude
    26.1895
    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
    $11,502
    $200,280
    $396,420
    $596,700
    -
    $200,280
    $396,420
    $596,700

    Comparable in this City

    • Value Estimation
      $3,210,000
      13,849 SF

      2150 Commercial Blvd

      DRUG STORE, PHARMACY • 13,849 SF
      2150 Commercial Blvd, Fort Lauderdale, FL 33308-3822
      View Details
    • Value Estimation
      $1,100,000
      5,794 SF

      3290-3298 33rd St

      RETAIL STORES (PERSONAL SERVICES) • 5,794 SF
      3290-3298 33rd St, Fort Lauderdale, FL 33308
      View Details
    • Value Estimation
      $880,000
      3,292 SF

      3860 Federal Hwy

      FINANCIAL BUILDING • 3,292 SF
      3860 Federal Hwy, Fort Lauderdale, FL 33308-5525
      View Details
    • Value Estimation
      $1,010,000
      4,525 SF

      112-112A Commercial Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,525 SF
      112-112A Commercial Blvd, Lauderdale By The Sea, FL 33308
      View Details
    • Value Estimation by Request
      59,174 SF

      6200-6294 Federal Hwy

      Individual retail properties • 59,174 SF
      6200-6294 Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • Value Estimation
      $1,135,000
      6,432 SF

      3300-3312 32nd St

      RETAIL STORES (PERSONAL SERVICES) • 6,432 SF
      3300-3312 32nd St, Fort Lauderdale, FL 33308
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,279 SF

      Retail Property on NE 32nd

      Retail space for sale with high traffic and parking.
      3250 Northeast 32Nd St, Fort Lauderdale, FL 33308
      View Details
    • $99,900

      Fort Lauderdale Beach Mixed-Use Space

      Mixed-use space for sale near Fort Lauderdale Beach.
      3015 N Ocean C-3, Fort Lauderdale, FL 33308
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    • Contact for pricing

      Established Spa Space For Sale

      Equipped spa with treatment rooms, reception area, and fixtures.
      3908 North Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • $995,000

      Fort Lauderdale Retail Near Beach

      Retail space in east Fort Lauderdale, one block from the beach.
      3313 NE 32Nd St, Fort Lauderdale, FL 33308
      View Details
    • $158,000

      Established Beauty Salon For Sale

      Profitable beauty salon with loyal customer base and prime location.
      3344 NE 32 Mnr, Fort Lauderdale, FL 33308
      View Details
    • $450,000

      Fort Lauderdale Commercial Retail Property

      Commercial retail property available for sale in Fort Lauderdale, Florida.
      1801 NE 45Th St, Fort Lauderdale, FL 33308
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,600 SF

      Commercial Space For Lease

      Retail, office, restaurant, or showroom space available for lease.
      3099 E Commercial Blvd, Fort Lauderdale, FL 33308
      View Details
    • $23 SF/Yr
      44,127 SF

      Fort Lauderdale Retail & Office Space

      Prime location, flexible suites available
      6245 Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • $35 SF/Yr
      6,000 SF

      Retail Space For Lease

      Retail space available for lease.
      6200-6310 N Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space on N Ocean

      Retail space for lease in Fort Lauderdale's Galt Ocean.
      4004-4012 N Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • $3,500 /Mo
      2,627 SF

      Fort Lauderdale Retail Space For Rent

      Prime retail space in Fort Lauderdale's North Beach Shopping District.
      3349 NE 33Rd St, Fort Lauderdale, FL 33308
      View Details
    • $40 SF/Yr

      Seagrape Commons Retail, Office, Restaurant

      Iconic building near the beach with retail, office, restaurant spaces.
      222 E Commercial Blvd, Fort Lauderdale, FL 33308
      View Details
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    Lauderdale By The Sea, FL 33308-4438
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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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