Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3600 2nd Ave Boca Raton, FL 33431-5842

    • Warehouses
    • 1,920 SF
    • 10.04 lot acres
    OFF-MARKET
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    3.4%
    Warehouses
    Location Intelligence
    Property ID
    US18-2865534
    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

    • Cooper Refrigeration & Services / Small Appliance Repair Service / Appliance Repair Service
    • Subzero Appliance Repair / Refrigerator Repair Service

    Property Details for 3600 2nd Ave

    Year built
    1977
    Construction
    CONCRETE
    Lot size
    10.04 lot acres
    Property size
    1,920 SF
    Zone code
    M-2
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    06-43-47-07-02-034-0090
    APU
    6434707020340090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $700,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $596,000
      Market price range: $402k - $597k

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.084
    Latitude
    26.3833
    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
    $309,845
    $6,999,456
    $11,462,355
    $18,461,811
    -
    $6,999,456
    $11,462,355
    $18,461,811

    Comparable in this City

    • Value Estimation
      $605,000
      2,756 SF

      3090 2nd Ave

      MINI-WAREHOUSE, STORAGE • 2,756 SF
      3090 2nd Ave, Boca Raton, FL 33431-6672
      View Details
    • Value Estimation
      $2,190,000
      7,162 SF

      120 Spanish Riv Blvd

      MINI-WAREHOUSE, STORAGE • 7,162 SF
      120 Spanish Riv Blvd, Boca Raton, FL 33431-4265
      View Details
    • Value Estimation
      $1,925,000
      6,435 SF

      2411 1st Ave

      MINI-WAREHOUSE, STORAGE • 6,435 SF
      2411 1st Ave, Boca Raton, FL 33431-6641
      View Details
    • Value Estimation
      $1,225,000
      5,400 SF

      109 20th St

      MINI-WAREHOUSE, STORAGE • 5,400 SF
      109 20th St, Boca Raton, FL 33431-7901
      View Details
    • Value Estimation by Request

      2400 Boca Raton Blvd

      Distribution properties
      2400 Boca Raton Blvd, Boca Raton, FL 33431
      View Details
    • Value Estimation by Request
      0.36 Acres

      2121 1st Pl

      STORAGE YARD, OPEN STORAGE • 0.36 Acres
      2121 1st Pl, Boca Raton, FL 33431
      View Details

    Similar Nearby for Sale

    • $1,250,000

      Renovated Duplex in East Boca

      Renovated duplex with private yards near beaches and Mizner Park.
      4498 NW 2Nd Ave, Boca Raton, FL 33431
      View Details
    • $4,699,000
      0.44 Acres

      Waterfront Lot in Gated Community

      Rare waterfront lot with ocean access in exclusive Boca Raton.
      4700 Sanctuary Ln, Boca Raton, FL 33431
      View Details
    • $1,500,000
      3,278 SF

      Boca Raton Medical Office Condo

      Class A, 3,278 sq ft, Vacant, Owner/User
      4800 Federal Hwy, Boca Raton, FL 33431
      View Details
    • $1,249,000
      2,996 SF

      Renovated Office Condo in Boca

      Class A office condo in prime Boca Raton location.
      4800 N Federal Hwy, Boca Raton, FL 33431
      View Details
    • $287,500
      Pending

      Vacant Residential Lot, Boca Raton

      Vacant residential lot in East Boca Raton near the beach.
      2700 NE 2Nd Ave, Boca Raton, FL 33431
      View Details
    • $195,000
      1,100 SF

      Boca Raton Retail Business for Sale

      Profitable Hemp Shop, Boca Raton, FL
      2800 Federal Hwy, Boca Raton, FL 33431
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      3,500 SF

      Boca Raton Climate Controlled Warehouse

      Climate-controlled warehouse space with office component available for lease.
      2400 NW 2Nd Ave, Boca Raton, FL 33431
      View Details
    • $37 SF/Yr
      6,214 SF

      Boca Raton Warehouse Space

      Available warehouse space in Boca Raton, Florida.
      98 NW Spanish River Blvd, Boca Raton, FL 33431
      View Details
    • $44 SF/Yr
      1,500 SF

      Boca Raton Warehouse for Lease

      1500 sq ft Single-Tenant Warehouse
      4720 2Nd Ave, Boca Raton, FL 33431
      View Details
    • $16 SF/Yr
      19,000 SF

      Boca Raton Warehouse/Office Space

      19,000 SF warehouse and office space for lease.
      604-622 Banyan Trl, Boca Raton, FL 33431
      View Details
    • $25 SF/Yr
      400 SF

      Boca Raton Flex Space

      Flex space available for rent in Boca Raton, Florida.
      130 NW 20Th St, Boca Raton, FL 33431
      View Details
    • $24 SF/Yr
      650 SF

      Boca Raton Flex/Industrial Space

      Flex/Industrial space available for lease in Boca Raton, FL.
      160 Nw 24Th St, Boca Raton, FL 33431
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3600 2nd Ave
    Boca Raton, FL 33431-5842
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.