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

    237 Blue Heron Blvd Riviera Beach, FL 33404-4544

    • Strip malls
    • 5,520 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $1,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2135903
    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

    • Strip malls

    Property Details for 237 Blue Heron Blvd

    Year built
    1976
    Construction
    WOOD
    Lot size
    0.29 lot acres
    Property size
    5,520 SF
    Zone code
    DG
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    56-43-42-28-12-000-0260
    APU
    56434228120000260

    Description

    This exceptional 5,800 square foot turnkey restaurant space presents a unique opportunity in the vibrant Riviera Beach, Florida market. Located at 237 Blue Heron Blvd, in Palm Beach County, this retail property is ideally suited for a multi-tenant restaurant operation. The existing infrastructure offers a significant advantage for a quick and efficient launch, minimizing upfront investment and maximizing return. The property's size allows for ample space to accommodate various dining areas, a fully equipped kitchen, and potentially additional amenities. Its prime location in Riviera Beach ensures high visibility and accessibility, attracting a diverse customer base. The address, 237 Blue Heron Blvd, 33404, offers convenient access to major roadways and ample parking, further enhancing its appeal. This is a rare chance to acquire a well-positioned, ready-to-operate restaurant space in a thriving Florida community. The property is classified as retail, with a restaurant subtype and multiple tenancy. Serious inquiries are encouraged to explore this exciting investment prospect. The property is situated at latitude 26.783234813542634 and longitude -80.05076171906717. This is a truly exceptional opportunity for experienced restaurateurs looking to establish or expand their business in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,770,000
      6.5%
      $1,635,000
      7%
      $1,520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Riviera Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0508
    Latitude
    26.783
    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
    $16,472
    $212,500
    $548,151
    $760,651
    -
    $212,500
    $548,151
    $760,651

    Comparable in this City

    • Value Estimation
      $1,065,000
      4,720 SF

      1521 Blue Heron Blvd

      SHOPPING CENTER, STRIP CENTER • 4,720 SF
      1521 Blue Heron Blvd, Riviera Beach, FL 33404-4013
      View Details
    • Value Estimation
      $890,000
      6,239 SF

      315 President Barack Obama Hwy

      SHOPPING CENTER, STRIP CENTER • 6,239 SF
      315 President Barack Obama Hwy, Riviera Beach, FL 33404-7839
      View Details
    • Value Estimation
      $605,000
      4,146 SF

      1620 Ave E Ave

      SHOPPING CENTER, STRIP CENTER • 4,146 SF
      1620 Ave E Ave, Riviera Beach, FL 33404-6164
      View Details
    • Value Estimation
      $715,000
      3,390 SF

      1261 Blue Heron Blvd

      SHOPPING CENTER, STRIP CENTER • 3,390 SF
      1261 Blue Heron Blvd, Riviera Beach, FL 33404-4739
      View Details
    • Value Estimation
      $535,000
      3,560 SF

      1217 Ave U U

      SHOPPING CENTER, STRIP CENTER • 3,560 SF
      1217 Ave U U, Riviera Beach, FL 33404-6562
      View Details
    • Value Estimation by Request
      4,187 SF

      1600 Broadway

      SHOPPING CENTER, STRIP CENTER • 4,187 SF
      1600 Broadway, Riviera Beach, FL 33404-5628
      View Details

    Similar Nearby for Sale

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      Riviera Beach Restaurant Opportunity

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    Similar Nearby for Lease

    • $1,400 /Mo
      6,239 SF

      Renovated Retail Space Available

      Fully renovated retail spaces available in Riviera Beach, Florida.
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      View Details
    • $25 SF/Yr
      13,040 SF

      Retail Space Near I-95

      Retail unit with high visibility and ample parking available for lease.
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      View Details
    • $1,300 /Mo
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      Renovated Retail Spaces Available

      Fully renovated retail spaces available in Riviera Beach, Florida.
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      View Details
    • Contact for pricing
      6,099 SF

      Prime Retail Space on Blue Heron

      Retail space with high visibility and traffic on Blue Heron.
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      View Details
    • Contact for pricing
      7,253 SF

      Retail Space on Blue Heron

      Retail space with high visibility and traffic count.
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      View Details
    • $1,750 /Mo
      2,728 SF

      Singer Island Office/Retail Space

      Rental space ideal for office or storage on Singer Island.
      1237 E Blue Heron Blvd, Singer Island, FL 33404
      View Details
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    Riviera Beach, FL 33404-4544
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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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