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

    555 62nd St Fort Lauderdale, FL 33309-6105

    • Hotels
    • 264,831 SF
    • 4.83 lot acres
    OFF-MARKET
    Last Sale
    Jul 27, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4117933
    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

    • Sheraton Suites Fort Lauderdale at Cypress Creek / Hotel / Meeting Planning Service
    • Hard Rock Hotel and Casino / Hotel
    • Encore / Event Management Company / Audio Visual Consultant
    • Terrace 555 Restaurant & Bar / Traditional American Restaurant
    • Broward center of performing arts / Movie Theater

    Property Details for 555 62nd St

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    4.83 lot acres
    Property size
    264,831 SF
    Zone code
    CC
    Property type
    Hotels
    APN
    49-42-10-29-0220
    APU
    494210290220

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $88,644,000
      Market price range: $88.6M - $404M
      AI Estimate
      $70,799,000
      Market price range: $70.8M - $160M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1507
    Latitude
    26.2041
    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
    $378,104
    $1,894,880
    $14,545,180
    $16,440,060
    -
    $1,894,880
    $14,545,180
    $16,440,060

    Comparable in this City

    • Value Estimation
      $6,775,000
      33,743 SF

      3551 Commercial Blvd

      HOTEL • 33,743 SF
      3551 Commercial Blvd, Fort Lauderdale, FL 33309-3309
      View Details
    • Value Estimation by Request
      249,656 SF

      6650 Andrews Ave

      HOTEL • 249,656 SF
      6650 Andrews Ave, Fort Lauderdale, FL 33309-2134
      View Details
    • Value Estimation
      $24,300,000
      97,048 SF

      2440 62nd St

      HOTEL • 97,048 SF
      2440 62nd St, Fort Lauderdale, FL 33309-1829
      View Details
    • Value Estimation
      $9,655,000
      50,755 SF

      3800 Commercial Blvd

      HOTEL • 50,755 SF
      3800 Commercial Blvd, Tamarac, FL 33309-3316
      View Details
    • Value Estimation
      $11,550,000
      68,542 SF

      999 62nd St

      HOTEL • 68,542 SF
      999 62nd St, Fort Lauderdale, FL 33309-1903
      View Details
    • Value Estimation
      $10,480,000
      41,607 SF

      5851 Andrews Ave

      HOTEL • 41,607 SF
      5851 Andrews Ave, Oakland Park, FL 33309-2333
      View Details

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      Avion Corporate Center: Fort Lauderdale

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      Prime Oakland Park Retail Center

      High-yield, multi-tenant retail investment.
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    • Contact for pricing
      66,757 SF

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      Office space available in Fort Lauderdale Commerce Center.
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      Corner storefront on Commercial Blvd, suitable for retail or restaurant.
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    Similar Nearby for Lease

    • $6 SF/Yr
      14,000 SF

      Fort Lauderdale Storage Lot - 14,000 SF

      Prime Fort Lauderdale storage lot, ideal for various uses.
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    • $16 SF/Yr
      20,288 SF

      Fort Lauderdale Warehouse Space

      Large Warehouse, Abundant Parking
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      View Details
    • $16 SF/Yr
      66,757 SF

      Fort Lauderdale Executive Office Space

      Prime Office Suite, 3,047 SF Available
      5201-5255 33Rd Ave, Fort Lauderdale, FL 33309
      View Details
    • Contact for pricing

      Fort Lauderdale Office Space For Lease

      435 SF Office/Warehouse, Flexible Lease Terms
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      View Details
    • Contact for pricing
      30,200 SF

      Fort Lauderdale Industrial Warehouse

      30,200 SF Warehouse, Flex Space Available
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      View Details
    • Contact for pricing

      Prime Office Space, NW 10th Terrace

      435 SF Office/Warehouse, Flexible Lease Terms
      3223 10Th Ter, Oakland Park, FL 33309
      View Details
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    Fort Lauderdale, FL 33309-6105
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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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