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

    500 Spanish Riv Blvd Boca Raton, FL 33431-4515

    • Office buildings
    • 37,814 SF
    • 4.51 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2022
    $12,600,000
    Value Estimations
    $12,490,000
    Show details
    Cap Rate Potential
    9.3%
    Office buildings
    Location Intelligence
    Property ID
    US18-3536694
    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

    • manatee development corporation / Software Company
    • Kolbert Valerie MD / Nurse Practitioner / Doctor
    • Massage Therapy LLC / Massage Therapist
    • J C. Anderson Jr, PhD / Doctor / Counselor
    • Roger H. Fischel, DC / Chiropractor

    Property Details for 500 Spanish Riv Blvd

    Year built
    1974
    Construction
    CONCRETE
    Lot size
    4.51 lot acres
    Property size
    37,814 SF
    Zone code
    B-2
    Property type
    Office buildings
    APN
    06-43-47-08-04-048-0010
    APU
    6434708040480010

    Description

    The Countyand on Spanish River, located at 500 NE Spanish River Blvd in Boca Raton, Florida (zip code 33431), presents a unique opportunity for businesses seeking executive office space. This premier lifestyle center boasts a total of 26,404 square feet of retail and office space, with a significant 31,223 square feet currently vacant. The property offers multiple tenancy options, with spaces ranging from a minimum of 906 square feet to a maximum contiguous space of 6,219 square feet. Sixteen individual spaces are currently available. The building's strategic location at the intersection of North Federal Highway and Spanish River Boulevard, a high-traffic corridor, ensures exceptional visibility and accessibility. Its proximity to I-95 provides convenient access for employees and clients. Ample parking is available for tenants and visitors. This property is situated in Palm Beach County and offers a vibrant and thriving business environment. The building's design and location make it an ideal choice for businesses seeking a prestigious and easily accessible location in Boca Raton. The available spaces are perfect for a variety of businesses, offering flexibility and the potential for customization. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,440,000
      ML approach
      $9,390,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,820,000
      6.5%
      $16,445,000
      7%
      $15,275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,089,000
      Market price range: $5.08M - $19.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0779
    Latitude
    26.3852
    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
    $234,144
    $4,907,275
    $6,923,241
    $11,830,516
    -
    $4,907,275
    $6,923,241
    $11,830,516

    Comparable in this City

    • Value Estimation
      $260,000
      78.21 Acres

      Boca Raton, FL 33431

      OFFICE BUILDING (MULTI-STORY) • 78.21 Acres
      Boca Raton, FL 33431
      View Details
    • Value Estimation
      $290,000
      3,170 SF

      4800 Federal Hwyd206

      OFFICE BUILDING • 3,170 SF
      4800 Federal Hwyd206, Boca Raton, FL 33431-5188
      View Details
    • Value Estimation
      $590,000
      23,707 SF

      2000 Corporate Blvd

      OFFICE BUILDING (MULTI-STORY) • 23,707 SF
      2000 Corporate Blvd, Boca Raton, FL 33431-7304
      View Details
    • Value Estimation
      $440,000
      1,750 SF

      2420 1st Ave

      OFFICE BUILDING (MULTI-STORY) • 1,750 SF
      2420 1st Ave, Boca Raton, FL 33431-6640
      View Details
    • Value Estimation
      $590,000
      8,387 SF

      3351 2nd Ave

      OFFICE BUILDING (MULTI-STORY) • 8,387 SF
      3351 2nd Ave, Boca Raton, FL 33431-6622
      View Details
    • Value Estimation
      $510,000
      11,760 SF

      2060 2nd Ave

      OFFICE BUILDING (MULTI-STORY) • 11,760 SF
      2060 2nd Ave, Boca Raton, FL 33431-6769
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • $26 SF/Yr
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      View Details
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      Boca Raton Office Space

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      View Details
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    500 Spanish Riv Blvd
    Boca Raton, FL 33431-4515
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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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