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

    2641 Park Rd, Unit 2649 Hallandale Beach, FL 33009-3815

    • Warehouses
    • 5,000 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2024
    $1,600,000
    Value Estimations
    $1,440,000
    Show details
    Cap Rate Potential
    4.1%
    Warehouses
    Location Intelligence
    Property ID
    US19-0286069
    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

    • Warehouses

    Property Details for 2641 Park Rd

    Year built
    1969
    Construction
    CONCRETE
    Lot size
    0.18 lot acres
    Property size
    5,000 SF
    Zone code
    M-1
    Property type
    Warehouses
    APN
    51-42-29-00-0068
    APU
    514229000068

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,600,000
      ML approach
      $1,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,090,000
      6.5%
      $1,010,000
      7%
      $935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,410,000
      Market price range: $911k - $2.01M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,300,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,300,000
      Change: +77% Conversion: Easy
      MEDICAL BUILDING
      $1,755,000
      Change: +35% Conversion: Difficult
      RETAIL STORES
      $1,750,000
      Change: +34% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hallandale Beach
    County
    Broward
    State
    Florida
    Longitude
    -80.1706
    Latitude
    25.9871
    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
    $17,165
    $54,600
    $740,560
    $795,160
    -
    $54,600
    $740,560
    $795,160

    Comparable in this City

    • Value Estimation
      $825,000
      29,250 SF

      3126 John P Curci Dr

      WAREHOUSE, STORAGE • 29,250 SF
      3126 John P Curci Dr, Hallandale Beach, FL 33009-3884
      View Details
    • Value Estimation
      $515,000
      9,284 SF

      2201 John P Lyons Ln

      WAREHOUSE, STORAGE • 9,284 SF
      2201 John P Lyons Ln, Hallandale Beach, FL 33009-2173
      View Details
    • Value Estimation
      $595,000
      15,293 SF

      2150 30th Ave

      WAREHOUSE, STORAGE • 15,293 SF
      2150 30th Ave, Hallandale, FL 33009-2007
      View Details
    • Value Estimation
      $655,000
      9,108 SF

      100 3rd St Ste A

      WAREHOUSE, STORAGE • 9,108 SF
      100 3rd St Ste A, Hallandale Beach, FL 33009-4227
      View Details
    • Value Estimation
      $725,000
      43,684 SF

      2701 Bryan Rd

      MINI-WAREHOUSE, STORAGE • 43,684 SF
      2701 Bryan Rd, Hallandale Beach, FL 33009-3804
      View Details
    • Value Estimation
      $360,000
      3,713 SF

      314 2nd St

      WAREHOUSE, STORAGE • 3,713 SF
      314 2nd St, Hallandale, FL 33009
      View Details

    Similar Nearby for Sale

    • $6,900,000
      29,309 SF

      Hallandale Beach Industrial Warehouse

      29,309 SF Warehouse - Vacant
      2801 Park Rd, Hallandale Beach, FL 33009
      View Details
    • $2,860,000
      4,850 SF

      Hallandale Beach Warehouse Investment

      High-traffic location, established business included.
      707 Dixie Hwy, Hallandale Beach, FL 33009
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    • $2,750,000

      Hallandale Beach Warehouse on Dixie

      4,850 SF warehouse with auto use approval on Dixie Hwy.
      707 N Dixie Hwy, Golden Isles, FL 33009
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    • Contact for pricing

      Hallandale Beach Retail/Office/Warehouse Space

      Two units available for retail, office, or warehouse use.
      207 E Hallandale Beach Blvd, Golden Isles, FL 33009
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    • Contact for pricing

      Hallandale Beach Retail/Office/Warehouse Space

      Prime location suitable for retail, office, or warehouse use.
      201 E Hallandale Beach Blvd, Golden Isles, FL 33009
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    • Contact for pricing

      Dock Height Warehouse with Expansion

      6,000 SF warehouse with expansion potential near I-95.
      2601 SW 31St Ave, Golden Isles, FL 33009
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      2,606 SF

      Ansin Blvd Warehouse Sublease

      I-95 Access, 2606 SF Warehouse
      470 Ansin Blvd, Hallandale Beach, FL 33009
      View Details
    • Contact for pricing

      Pembroke Park Warehouse For Sale

      8,140 SF Industrial Space, Single Tenant
      2503 John P Lyons Ln, Pembroke Park, FL 33009
      View Details
    • $3,000 /Mo

      Hallandale Beach Warehouse For Rent

      Warehouse/Industrial space east of I-95 in Hallandale Beach, FL.
      470 Ansin Blvd, Golden Isles, FL 33009
      View Details
    • Contact for pricing

      Hallandale Beach Warehouse For Sale

      Clean Warehouse, Office, End-Cap
      2053 31 Ave, Hallandale Beach, FL 33009
      View Details
    • $32 SF/Yr

      Hallandale Beach Retail/Office/Warehouse Space

      Prime Hallandale Beach units for lease, suitable for various businesses.
      201 E Hallandale Beach Blvd, Golden Isles, FL 33009
      View Details
    • $3,000 /Mo

      Hallandale Beach Warehouse For Rent

      Warehouse/Industrial space east of I-95 in Hallandale Beach, FL.
      470 Ansin Blvd, Golden Isles, FL 33009
      View Details
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    Hallandale Beach, FL 33009-3815
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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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