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    Property profile & analytics

    2980 State Rd 7th, Unit 2990 Margate, FL 33063-5730

    • Drive through restaurants
    • 2,744 SF
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2022
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7519307
    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

    • Drive through restaurants

    Property Details for 2980 State Rd 7th

    Year built
    2018
    Construction
    CONCRETE
    Lot size
    1.06 lot acres
    Property size
    2,744 SF
    Zone code
    TOC-C
    Property type
    Drive through restaurants
    APN
    48-42-19-06-0011
    APU
    484219060011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $635,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $447,000
      Market price range: $283k - $448k

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

    Location Insight

    • Map
    • Local Demand
    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2011
    Latitude
    26.266
    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
    $69,648
    $926,820
    $2,327,160
    $3,253,980
    -
    $926,820
    $2,327,160
    $3,253,980

    Comparable in this City

    • Value Estimation
      $505,000
      4,411 SF

      5510-5550 Copans Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,411 SF
      5510-5550 Copans Rd, Margate, FL 33063
      View Details
    • Value Estimation
      $395,000
      2,750 SF

      2466 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,750 SF
      2466 State Rd 7th 7, Margate, FL 33063-5742
      View Details
    • Value Estimation
      $4,230,000
      2,789 SF

      499 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,789 SF
      499 State Rd 7th 7, Margate, FL 33063-4560
      View Details
    • Value Estimation
      $350,000
      2,965 SF

      306 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,965 SF
      306 State Rd 7th 7, Margate, FL 33063-4559
      View Details
    • Value Estimation
      $435,000
      3,060 SF

      550 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,060 SF
      550 State Rd 7th 7, Margate, FL 33063-4563
      View Details
    • Value Estimation
      $440,000
      3,381 SF

      5681 Atlantic Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,381 SF
      5681 Atlantic Blvd, Margate, FL 33063-4522
      View Details

    Similar Nearby for Sale

    • $179,000
      123,448 SF

      Established Restaurant in Busy Plaza

      Profitable restaurant with loyal clientele in a high-traffic shopping plaza.
      7210 W Atlantic Blvd, Pompano Beach, FL 33063
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    • $1,900,000
      0.54 Acres

      Turnkey Restaurant Opportunity in Margate

      Turnkey Asian restaurant with recent renovations, business and property included.
      1821 N State Rd 7, Margate, FL 33063
      View Details
    • Contact for pricing
      0.19 Acres

      Margate Retail Space - High Traffic

      Prime Margate Retail, High Visibility, Sale/Lease
      525 State Road 7, Margate, FL 33063
      View Details
    • Contact for pricing
      6.62 Acres

      Margate Retail Spaces - Prime Location

      High-traffic retail spaces available. Multiple sizes.
      1360 State Road 7, Margate, FL 33063
      View Details
    • $1,100,000
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      Margate, FL: Prime Retail Opportunity
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    • $750,000

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    Similar Nearby for Lease

    • $20 SF/Yr
      67,714 SF

      Trizek Village Plaza: Margate Retail Spaces

      Prime Margate retail spaces available. High-traffic location.
      1360 State Rd 7, Margate, FL 33063
      View Details
    • $25 SF/Yr
      288,367 SF

      Margate Retail Space on 441

      Retail spaces available in conveniently located neighborhood plaza on 441.
      1360 N State Rd 7, Margate, FL 33063
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    • $3,100 /Mo
      61,463 SF

      Margate Retail Space For Lease

      Retail space in busy plaza with high traffic and visibility.
      2501 N State Rd 7, Margate, FL 33063
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in High-Traffic Center

      Retail space in Coconut Creek with high visibility and traffic.
      4821-4967 Coconut Creek Pkwy, Coconut Creek, FL 33063
      View Details
    • $3,866 /Mo
      61,463 SF

      Margate Retail Space For Rent

      Second-floor retail space in Marquis Square, ideal for beauty salon.
      2501 N State Rd 7, Margate, FL 33063
      View Details
    • $5,815 /Mo
      61,463 SF

      Margate Retail Space on State Road 7

      Corner retail unit in Marquis Square with high traffic exposure.
      2501 N State Rd 7, Margate, FL 33063
      View Details
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    Margate, FL 33063-5730
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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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