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

    2809 Ocean Blvd Highland Beach, FL 33487-1829

    • Hotels
    • 21,024 SF
    • 1.41 lot acres
    OFF-MARKET
    Value Estimations
    $9,245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4654525
    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

    • Hotels

    Property Details for 2809 Ocean Blvd

    Year built
    1975
    Construction
    STEEL FRAME
    Lot size
    1.41 lot acres
    Property size
    21,024 SF
    Zone code
    RMM
    Property type
    Hotels
    APN
    24-43-46-33-00-001-0030
    APU
    24434633000010030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,203,000
      Market price range: $5.06M - $12.2M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $8,810,000
      Current use
      RESTAURANT
      $14,510,000
      Change: +65% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $14,415,000
      Change: +64% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,385,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $8,385,000
      Change: -5% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,305,000
      Change: -6% Conversion: Difficult
      MEDICAL BUILDING
      $8,285,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0636
    Latitude
    26.4242
    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
    $319,128
    $17,500,000
    $5,110,565
    $22,610,565
    -
    $17,500,000
    $5,110,565
    $22,610,565

    Comparable in this City

    • Value Estimation
      $28,285,000
      77,708 SF

      8201 Congress Ave

      HOTEL • 77,708 SF
      8201 Congress Ave, Boca Raton, FL 33487-1337
      View Details
    • Value Estimation
      $15,685,000
      28,206 SF

      525 77th St

      HOTEL/MOTEL • 28,206 SF
      525 77th St, Boca Raton, FL 33487-1331
      View Details
    • Value Estimation
      $5,525,000
      12,347 SF

      2809 Ocean Blvd

      HOTEL/MOTEL • 12,347 SF
      2809 Ocean Blvd, Highland Beach, FL 33487-1829
      View Details
    • Value Estimation
      $9,265,000
      20,856 SF

      501 77th St100a

      HOTEL/MOTEL • 20,856 SF
      501 77th St100a, Boca Raton, FL 33487-1331
      View Details
    • Value Estimation
      $23,305,000
      82,140 SF

      5130 8th Ave

      HOTEL • 82,140 SF
      5130 8th Ave, Boca Raton, FL 33487-8238
      View Details
    • Value Estimation by Request
      245,868 SF

      661 53rd St

      HOTEL • 245,868 SF
      661 53rd St, Boca Raton, FL 33487-8210
      View Details

    Similar Nearby for Sale

    • $1,150,000

      Spacious Duplex Near US1

      Duplex featuring two units, close to beach, shopping, and dining.
      697 Ipswich St, Boca Raton, FL 33487
      View Details
    • $989,000
      2,421 SF

      Boca Raton Warehouse For Sale

      Warehouse in Rogers Circle Industrial Park, close to I-95.
      6530 W Rogers Cir, Boca Raton, FL 33487
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    • $3,695,000

      East Boca Raton Mixed-Use Investment

      Seven-unit property, prime location, high demand.
      6940 Federal Hwy, Boca Raton, FL 33487
      View Details
    • Contact for pricing
      68,319 SF

      North Boca Raton Office Building

      Well-maintained office building in North Boca Raton with multiple spaces.
      6400-6420 Congress Ave, Boca Raton, FL 33487
      View Details
    • $4,900,000
      8,041 SF

      Highland Beach Quadplex Opportunity

      Prestigious quadplex in Highland Beach with income potential.
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    • $3,200,000

      Boca Raton Commercial Warehouse

      Versatile industrial property with premium office space in Boca Raton.
      1200 S Rogers Cir, Boca Raton, FL 33487
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    Similar Nearby for Lease

    • Contact for pricing
      4,220 SF

      Boca Raton Warehouse For Rent

      4,220 SF warehouse with air-conditioned offices in Boca Raton.
      6350 E Rogers Cir, Boca Raton, FL 33487
      View Details
    • $288 SF/Yr
      16,562 SF

      Boca Raton Warehouse Space For Lease

      16,562 SF Industrial Warehouse, Boca Raton
      6451 Rogers Cir, Boca Raton, FL 33487
      View Details
    • $24 SF/Yr
      1,600 SF

      Prime Flex Space, Palm Beach

      1,600 SF Flex Warehouse, I-95 Access
      1140 Holland Dr, Boca Raton, FL 33487
      View Details
    • Contact for pricing
      3,108 SF

      Boca Raton Flex Space Available

      3,108 SF flex space with offices and loading dock.
      6450-6468 E Rogers Cir, Boca Raton, FL 33487
      View Details
    • $25 SF/Yr
      5,981 SF

      Boca Raton Flex/Industrial Space

      Flex/industrial space available for lease in Boca Raton, Florida.
      6500 W Rogers Cir, Boca Raton, FL 33487
      View Details
    • $35 SF/Yr
      1,000 SF

      Move-in Ready Office Space

      Modern 1,000 SF office space in Boca Raton.
      7700 Congress Ave, Boca Raton, FL 33487
      View Details
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    2809 Ocean Blvd
    Highland Beach, FL 33487-1829
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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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