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

    2881 Oakland Park Blvd Fort Lauderdale, FL 33306-1813

    • Office buildings
    • 19,082 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2021
    $3,075,000
    Value Estimations
    $4,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0789707
    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

    • Integrity Hotels / Hotel & Motel / Resort
    • Miller & Associates Insurance Group Inc. / Insurance Agency
    • The Financial Marketplace Inc. / Financial Advisor
    • Pamela M. Burdick / Law Firm
    • Kurzman Law Group / Law Firm

    Property Details for 2881 Oakland Park Blvd

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.87 lot acres
    Property size
    19,082 SF
    Zone code
    CB
    Property type
    Office buildings
    APN
    49-42-24-03-0530
    APU
    494224030530

    Description

    The Commonwealth Building offers 20,000 square feet of Class B office space in the heart of East Fort Lauderdale. This three-story building, constructed in 1962 and renovated in 2013, houses 63 individual suites, perfect for businesses of all sizes. Multiple tenancy options are available, with spaces ranging from a minimum of 65 square feet to a maximum contiguous space of 505 square feet. Five suites are currently available for immediate occupancy. Each office is fully furnished and turnkey, providing a seamless transition for new tenants. A comprehensive suite of services is included, eliminating the need for significant upfront investment. These services encompass high-speed internet access, fully equipped phone systems with dedicated numbers, professional receptionist services, ample parking, access to conference rooms during specified hours, regular cleaning services, and 24/7/365 building access. A notary service is also conveniently provided on-site. This exceptional location and comprehensive service package make the Commonwealth Building an ideal choice for businesses seeking a fully equipped and efficient workspace. The building's single structure simplifies operations and provides a cohesive environment for its tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,910,000
      ML approach
      $4,240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,018,000
      Market price range: $1.33M - $6.51M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,345,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.106
    Latitude
    26.1679
    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
    $64,342
    $904,440
    $2,070,970
    $2,975,410
    -
    $904,440
    $2,070,970
    $2,975,410

    Comparable in this City

    • Value Estimation
      $7,620,000
      18,650 SF

      2626 Oakland Park Blvd

      OFFICE BUILDING (MULTI-STORY) • 18,650 SF
      2626 Oakland Park Blvd, Fort Lauderdale, FL 33306-1603
      View Details
    • Value Estimation
      $2,740,000
      11,868 SF

      2840 Oakland Park Blvd

      OFFICE BUILDING (MULTI-STORY) • 11,868 SF
      2840 Oakland Park Blvd, Fort Lauderdale, FL 33306-1814
      View Details
    • Value Estimation by Request
      356 SF

      3045 Federal Hwy, Unit 4

      OFFICE BUILDING (MULTI-STORY) • 356 SF
      3045 Federal Hwy, Fort Lauderdale, FL 33306-1431
      View Details
    • Value Estimation
      $1,495,000
      4,983 SF

      2888 Oakland Park Blvd

      OFFICE BUILDING • 4,983 SF
      2888 Oakland Park Blvd, Fort Lauderdale, FL 33306-1814
      View Details
    • Value Estimation
      $1,220,000
      6,832 SF

      2700 Oakland Park Blvd

      OFFICE BUILDING • 6,832 SF
      2700 Oakland Park Blvd, Fort Lauderdale, FL 33306-1623
      View Details
    • Value Estimation
      $1,135,000
      2,859 SF

      2856 Oakland Park Blvd

      OFFICE BUILDING • 2,859 SF
      2856 Oakland Park Blvd, Fort Lauderdale, FL 33306-1814
      View Details

    Similar Nearby for Sale

    • $4,500,000

      Fort Lauderdale Office Building For Sale

      East Oakland Park Blvd office building with high visibility and access.
      2817 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $4,500,000

      Fort Lauderdale Office Building For Sale

      Office building for sale in Fort Lauderdale with high visibility.
      2817 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $3,800,000

      Remodeled Office/Retail Building For Sale

      Premium remodeled office/retail building in prime location for sale.
      2780 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $4,500,000
      17,135 SF

      Fort Lauderdale Office Building For Sale

      Centrally located office building with ample parking and easy access.
      2801-2831 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • Contact for pricing

      Professional Office Space Available

      Office suite on E Oakland Park Blvd with shared amenities.
      2691 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $2,100,000

      Two-Story Retail & Office Building

      6,216 SF retail and office building on Oakland Park Blvd.
      2745 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      3,443 SF

      East Oakland Park Office Building

      Freestanding, renovated office building with high-visibility signage available for rent.
      2876 East Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $1.03 SF/Yr
      9,871 SF

      Oakland Park Blvd Office Suite

      Prestigious Office Space, 299+ sq ft
      2691 Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $24 SF/Yr
      64,727 SF

      Coral Ridge Office Suites

      Fort Lauderdale Office Space Available
      2601 Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
    • $25 SF/Yr
      3,146 SF

      Oaklyn Campus Office/Retail Space

      Office and retail spaces available in a prime location.
      3201 N Federal Hwy, Fort Lauderdale, FL 33306
      View Details
    • $40 SF/Yr
      7,500 SF

      Renovated Office Space For Lease

      Recently renovated office spaces with amazing property amenities and floor-to-ceiling windows.
      3101 N Federal Hwy, Fort Lauderdale, FL 33306
      View Details
    • $1,100 /Mo

      Office-Retail Space Near Shopping Center

      Second-story office-retail space with high visibility and ample parking.
      2400 E Oakland Park Blvd, Fort Lauderdale, FL 33306
      View Details
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    Fort Lauderdale, FL 33306-1813
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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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