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    6400 57th Ct Tamarac, FL 33321-5702
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    Property profile & analytics

    6400 57th Ct, Tamarac, FL 33321-5702

    View on Map
    • Drug stores
    • 16,419 SF
    • 1.99 lot acres
    Off-Market
    Last Sale Apr 30, 2024
    $7,000,000
    Property ID
    US18-3453573
    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
    $7,000,000
    Show details
    Cap Rate Potential
    4.2%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • Drug stores

    Property Details for 6400 57th Ct

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    1.99 lot acres
    Zone code
    MU-G
    Property type
    Drug stores
    APN
    49-41-10-11-0010
    APU
    494110110010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 30, 2024 $7,000,000 Leremblu LLC Cot Wg Meadowllc Special Warranty Deed —
    Nov 27, 2023 — Walgreen Co Cot Wg Meadow LLC Lease —
    Nov 27, 2023 $5,808,600 Cot Wg Meadow LLC Walgreen Co Special Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,000,000
      ML approach
      $7,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,875,000
      6.5%
      $4,500,000
      7%
      $4,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,357,000
      Market price range: $3.53M - $9.36M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $6,230,000
      Current use
      COMMERCIAL (GENERAL)
      $8,505,000
      Change: +37% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $7,715,000
      Change: +24% Conversion: Difficult
      MEDICAL BUILDING
      $7,650,000
      Change: +23% Conversion: Difficult
      WAREHOUSE, STORAGE
      $5,715,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tamarac
    County
    Broward
    State
    Florida
    Longitude
    -80.2366
    Latitude
    26.1944
    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
    $110,216
    $1,387,780
    $3,325,110
    $4,712,890
    -
    $1,387,780
    $3,325,110
    $4,712,890

    Comparable in this City

    • Value Estimation
      $3,970,000
      15,750 SF

      8790 Mcnab Rd

      DRUG STORE, PHARMACY
      8790 Mcnab Rd, Tamarac, FL 33321-3214
      View Details
    • Value Estimation
      $3,560,000
      13,672 SF

      10004 Mcnab Rd

      DRUG STORE, PHARMACY
      10004 Mcnab Rd, Tamarac, FL 33321-1815
      View Details
    • Value Estimation
      $3,160,000
      15,469 SF

      8199 University Dr

      DRUG STORE, PHARMACY
      8199 University Dr, Tamarac, FL 33321-1744
      View Details
    • Value Estimation
      $640,000
      3,311 SF

      6899 University Dr

      DRUG STORE, PHARMACY
      6899 University Dr, Tamarac, FL 33321-4010
      View Details
    • Value Estimation
      $4,630,000
      4,936 SF

      6001 University Dr

      FINANCIAL BUILDING
      6001 University Dr, Tamarac, FL 33321-4608
      View Details
    • Value Estimation
      $910,000
      6,138 SF

      7005 University Dr

      FINANCIAL BUILDING
      7005 University Dr, Tamarac, FL 33321-2917
      View Details

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      1,275 SF

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      Multi-use building with retail, medical, and professional office suites.
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      1,600 SF

      Retail Space in Tamarac, Florida

      Retail space available in a busy Tamarac shopping center.
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    • Contact for pricing
      2,600 SF

      Retail Space in Tamarac, Florida

      Retail spaces available in a busy Tamarac shopping center.
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      2,860 SF

      Retail/Medical Outparcel Near Publix

      Freestanding 2,860 SF retail/medical space adjacent to Publix.
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    • Contact for pricing
      6,659 SF

      Lauderhill Retail Space For Rent

      Retail space available in a recently renovated Lauderhill shopping center.
      5714-5726 N University Dr, Lauderhill, FL 33321
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    • Contact for pricing
      1,400 SF

      Retail Space in Tamarac Plaza

      Retail space available in busy Tamarac shopping center.
      7047-7251 NW 88Th Ave, Tamarac, FL 33321
      View Details
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    Tamarac, FL 33321-5702
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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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