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    Property profile & analytics

    3496 N Ocean Blvd Fort Lauderdale, FL 33308

    • Turn key restaurants
    • 7,075 SF
    • 0.12 lot acres
    For Sale
    View listing
    Last Sale
    Dec 17, 2024
    $840,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5163045
    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

    • Vico Kitchen Bar / Restaurant

    Property Details for 3496 N Ocean Blvd

    Year built
    1971
    Construction
    CONCRETE
    Lot size
    0.12 lot acres
    Property size
    7,075 SF
    Zone code
    CB
    Property type
    Turn key restaurants
    APN
    49-43-19-02-0130
    APU
    494319020130

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $786,000
      Market price range: $570k - $1.91M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.0997
    Latitude
    26.171
    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
    $35,450
    $216,220
    $1,494,810
    $1,711,030
    -
    $216,220
    $1,494,810
    $1,711,030

    Comparable in this City

    • Value Estimation
      $1,980,000
      10,253 SF

      6002 Ocean Blvd

      RESTAURANT • 10,253 SF
      6002 Ocean Blvd, Lauderdale By The Sea, FL 33308-2324
      View Details
    • Value Estimation
      $1,415,000
      9,115 SF

      1 Commercial Blvd

      RESTAURANT • 9,115 SF
      1 Commercial Blvd, Lauderdale By The Sea, FL 33308-3601
      View Details
    • Value Estimation
      $795,000
      4,157 SF

      4850-4854 Federal Hwy

      RESTAURANT • 4,157 SF
      4850-4854 Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • Value Estimation
      $1,055,000
      14,940 SF

      3115 32nd Ave

      RESTAURANT • 14,940 SF
      3115 32nd Ave, Fort Lauderdale, FL 33308-7105
      View Details
    • Value Estimation by Request
      0.09 Acres

      3115 32nd Ave

      RESTAURANT • 0.09 Acres
      3115 32nd Ave, Fort Lauderdale, FL 33308-7105
      View Details
    • Value Estimation
      $1,475,000
      9,696 SF

      3300 Commercial Blvd

      RESTAURANT • 9,696 SF
      3300 Commercial Blvd, Fort Lauderdale, FL 33308-4328
      View Details

    Similar Nearby for Sale

    • $150,000
      1,600 SF

      Established Restaurant on Federal Hwy

      Turn-key restaurant with high visibility and loyal clientele.
      4350 N Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • $1,295,000
      0.17 Acres

      Fort Lauderdale Commercial Building For Sale

      Commercial building with long-term tenant in prime location.
      4700 N Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing
      7,000 SF

      Fort Lauderdale Freestanding Restaurant Building

      7,000 SF freestanding, fully equipped restaurant with outdoor seating.
      3496 N Ocean Blvd, Fort Lauderdale, FL 33308
      View Details
    • $419,950
      2.26 Acres

      Beachfront Condo-Hotel Unit

      Turnkey condo-hotel with ocean views, rental flexibility, and resort amenities.
      4040 Galt Ocean Dr, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing

      Prime Retail Space Near Beach

      Retail space in Fort Lauderdale's Galt Mile shopping district.
      3309 Ne 33Rd St, Fort Lauderdale, FL 33308
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,757 SF

      Premier Office Building with Ocean Views

      Class A office space with modern amenities and ocean views.
      6451 N Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • $40 SF/Yr

      Seagrape Commons Retail/Office/Restaurant Space

      Iconic building near the beach with retail, office, and restaurant options.
      222 Commercial Blvd, Lauderdale by the Sea, FL 33308
      View Details
    • $25 SF/Yr

      Seagrape Commons Retail/Office/Restaurant Space

      Iconic building near the beach with retail, office, restaurant options.
      218 Commercial Blvd, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing
      5,600 SF

      Commercial Space For Lease

      Retail, office, restaurant, or showroom space available for lease.
      3099 E Commercial Blvd, Fort Lauderdale, FL 33308
      View Details
    • Contact for pricing
      20,000 SF

      Fort Lauderdale Flex Space Available

      Prime Flex Space, 1,000 SF Available
      3520 Federal Hwy, Fort Lauderdale, FL 33308
      View Details
    • $23 SF/Yr
      44,127 SF

      Fort Lauderdale Retail & Office Space

      Prime location, flexible suites available
      6245 Federal Hwy, Fort Lauderdale, FL 33308
      View Details
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    Fort Lauderdale, FL 33308
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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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