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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Warehouses
3600 2nd Ave Boca Raton, FL 33431-5842
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-2865534
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1977
Construction
CONCRETE
Total area
1,920 SF
Lot
10.04 ac (437,464 SF)
Zoning code
M-2
APN
06-43-47-07-02-034-0090
UPID
US18-2865534
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cooper Refrigeration & Services Home Appliance Store
-
Subzero Appliance Repair Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$597k
Blend (final)
Blend
$720k
Owner & transaction history
Lewis Rental Properties LP · 11 yrs held
Lewis Rental Properties LP
since 2015
3 recorded transactions
Zoning & alternative use
M-2 · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$950,000
+44.5%
Commercial (general)
$850,000
+29.3%
Retail stores
$765,000
+16.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$655,000
Current use
AUTO REPAIR, GARAGE
$950,000
Change: +44% · Conversion: Easy
COMMERCIAL (GENERAL)
$850,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$765,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: +16% · Conversion: Moderate
MEDICAL BUILDING
$755,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$720k
Range $648k – $792k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$375 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$309,845
Tax year 2023
Assessed value
$18,461,811
Assessed 2023
Previous assessed
$18,461,811
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$6,999,456
Assessed improvement
$11,462,355
Land market value
$6,999,456
Improvement market value
$11,462,355
Total market value
$18,461,811
Applied tax rate
6,154.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Buildings
30
Stories
2
Total area
1,920 SF
Lot
10.04 ac (437,464 SF)
Zoning code
M-2
APN
06-43-47-07-02-034-0090
UPID
US18-2865534
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
M-2 · Boca Raton, FL
Zoning M-2 · permitted uses
M-2 · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$950,000
COMMERCIAL (GENERAL)
Est. value
$850,000
RETAIL STORES
Est. value
$765,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
MEDICAL BUILDING
Est. value
$755,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
30
Lot
10.04 ac
Current owner
From public records · entity-resolved
Lewis Rental Properties LP
Entity
Mailing address
3600 NW 2ND AVE, BOCA RATON, FL 33431-5842
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2021
—
Lewis Rental Properties INC
—
Deed Of Trust
related
$7,750,000 · Centerstate Bk NA
Jun 5, 2015
$13,850,000
Lewis Rental Properties LP
Lewis,timothy R
Trustees Deed
$30,100,000 · Other Institutional Lenders
—
—
Timothy Lewis
—
Deed Of Trust
related
$5,629,185 · Principal Life Insurance Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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