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    603 Melaleuca Dr Margate, FL 33063-4590
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    Property profile & analytics

    603 Melaleuca Dr, Margate, FL 33063-4590

    View on Map
    • Hospitals
    • 8,885 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US18-8095531
    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.
    Value Estimations
    $1,180,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitals

    Property Details for 603 Melaleuca Dr

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    1.00 lot acres
    Zone code
    R-3
    Property type
    Hospitals
    APN
    48-41-36-02-0350
    APU
    484136020350

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 1, 2025 — Mmj Financial Services INC — Deed · related $1M · Joseph Hertz LLC
    Jul 13, 2020 — Mmj Financial Services INC — Deed · related $44k · Dalia Accounting Service INC
    Jun 6, 2018 — Mmj Financial Services INC Mmj Financial Services INC Quit Claim Deed · related $1.6M · Asset Based Solution LLC
    Aug 9, 2006 $219,000 Lady M Lamas Baez Bhg Courtyards LLC Warranty Deed $175k · First Magnus Financial Corp
    Jun 13, 2006 $219,000 Atilio Zambrano Bhg Courtyards LLC Condominium Deed $175k · Argent Mortgage Company LLC
    Mar 31, 2006 $200,000 Jusino,gary Bhg Courtyards LLC Grant Deed $160k · Equity Fin
    Feb 7, 2006 $219,900 Lall,delon V Bhg Courtyards LLC Grant Deed $209k · Equity Fin
    Jun 3, 2005 $1,489,000 Bhg Courtyards LLC Davidoff Properties LLC Warranty Deed $1.4M · Commercial Bk/fl
    Apr 17, 2003 $790,000 Davidoff Properties LLC Leto Development Corp Grant Deed $474k · Union Planters Nat'l Bk
    May 14, 2001 $100,000 Leto Development Corp Saporiti,robert Grant Deed —
    — — Bhg Courtyards LLC — Deed Of Trust · related $794k · Premier American Bk
    — — Jimenez,adelina — Deed Of Trust · related $40k · Fremont Invs & Ln
    — — Leto Development Corp — Deed Of Trust · related $537k · Regent Bk
    — — Mmj Financial Services INC — Deed Of Trust · related $44k · Dalia Accounting Service INC
    — — Bhg Courtyards LLC — Loan Modification · related $51k · Commercial Bk/fl

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2067
    Latitude
    26.237
    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
    $31,946
    $305,730
    $866,380
    $1,172,110
    -
    $305,730
    $866,380
    $1,172,110

    Comparable in this City

    • Value Estimation
      $41,190,000
      199,117 SF

      2801 State Rd 7th 7

      HOSPITAL - PRIVATE
      2801 State Rd 7th 7, Margate, FL 33063-5727
      View Details
    • Value Estimation by Request
      20,714 SF

      2922 State Road 7

      Medical Office Space
      2922 State Road 7, Margate, FL 33063
      View Details
    • Value Estimation by Request
      45,565 SF

      2960 State Road 7

      Medical Office Space
      2960 State Road 7, Margate, FL 33063
      View Details
    • Value Estimation
      $5,925,000
      37,702 SF

      5901 Colonial Dr

      MEDICAL BUILDING
      5901 Colonial Dr, Margate, FL 33063-5675
      View Details
    • Value Estimation
      $9,350,000
      60,350 SF

      2825 State Rd 7th 7

      MEDICAL BUILDING
      2825 State Rd 7th 7, Margate, FL 33063-5737
      View Details
    • Value Estimation
      $1,285,000
      6,377 SF

      3275 State Rd 7th 7

      MEDICAL BUILDING
      3275 State Rd 7th 7, Margate, FL 33063-7011
      View Details

    Similar Nearby for Sale

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      Storefront on High-Traffic Corner

      Storefront office/retail space on corner of Atlantic and State.
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      Retail Outparcel in Busy Location

      Former bank location with drive-through potential near shopping mall.
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    Similar Nearby for Lease

    • $25 SF/Yr
      20,714 SF

      Margate Medical Office Center

      Prime Medical & Retail Space Available
      2922 State Rd 7, Margate, FL 33063
      View Details
    • $22 SF/Yr

      Medical Office Space Available

      Full-floor opportunity with signage and competitive lease rates.
      2960 North State Road 7, Margate, FL 33063
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    • Contact for pricing
      5,307 SF

      Margate Office/Medical Space For Rent

      Office and medical space available for lease in Margate, Florida.
      2960 N State Road 7, Margate, FL 33063
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    • $0.63 SF/Yr
      11,500 SF

      Atlantic Blvd Commercial Suite

      Prime Atlantic Blvd Office Space, 112 SF
      6101 Atlantic Blvd, Margate, FL 33063
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    • $20 SF/Yr
      67,714 SF

      Trizek Village Plaza: Margate Retail Spaces

      Prime Margate retail spaces available. High-traffic location.
      1360 State Rd 7, Margate, FL 33063
      View Details
    • $25 SF/Yr

      Retail Space on Rock Island

      Ground floor retail space with signage rights available for lease.
      374 N Rock Island Rd, Pompano Beach, FL 33063
      View Details
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    Margate, FL 33063-4590
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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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