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

    650 Riverside Dr, Unit 850 Coral Springs, FL 33071-7008

    • Retail space
    • 52,759 SF
    • 10.64 lot acres
    OFF-MARKET
    Value Estimations
    $9,110,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4033936
    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

    • Retail space

    Property Details for 650 Riverside Dr

    Year built
    1985
    Construction
    CONCRETE
    Lot size
    10.64 lot acres
    Property size
    52,759 SF
    Zone code
    B-3
    Property type
    Retail space
    APN
    48-41-27-03-6250
    APU
    484127036250

    Description

    This exceptional restaurant and lounge, located at 650 Riverside Dr, Coral Springs, FL 33071, in Broward County, presents a lucrative investment opportunity. Priced at $599,000 with $349,000 seller financing available, this established business boasts a newly renovated (2022) state-of-the-art commercial kitchen and a separate catering kitchen, allowing for simultaneous in-house dining and off-site catering services. The spacious venue comfortably seats over 200 guests, making it ideal for corporate events, private parties, and celebrations. Its prime location benefits from the addition of 600 new luxury condos in the same plaza, promising significant organic growth and attracting high-net-worth clientele. The restaurant offers a unique Latin-inspired culinary experience, complemented by a lively lounge and nightclub featuring music, dancing, and a specialty cocktail bar. Nightly specials and a weekly car show further enhance customer traffic. The property includes a 4COP SRX full-liquor license. Recent upgrades include all new air conditioning units (2022), updated landscaping, and enhanced exterior lighting, reflecting the high-end nature of the establishment. All kitchen equipment was also replaced in 2022. This turnkey operation is perfect for an absentee owner seeking a thriving South Florida business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Coral Springs
    County
    Broward
    State
    Florida
    Longitude
    -80.244
    Latitude
    26.2421
    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
    $355,814
    $4,170,560
    $11,379,310
    $15,549,870
    -
    $4,170,560
    $11,379,310
    $15,549,870

    Comparable in this City

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      47,281 SF

      725 University Dr, Unit 753

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      View Details
    • Value Estimation
      $1,285,000
      41,993 SF

      2200 University Dr, Unit 2246

      RETAIL STORES (PERSONAL SERVICES) • 41,993 SF
      2200 University Dr, Coral Springs, FL 33071-6100
      View Details
    • Value Estimation
      $4,860,000
      2,450 SF

      1331 University Dr, Unit 1341

      RETAIL STORES (PERSONAL SERVICES) • 2,450 SF
      1331 University Dr, Coral Springs, FL 33071-8316
      View Details
    • Value Estimation
      $1,330,000
      6,814 SF

      300 University Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,814 SF
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    • Value Estimation
      $1,295,000
      5,523 SF

      592 University Dr, Unit 610

      RETAIL STORES (PERSONAL SERVICES) • 5,523 SF
      592 University Dr, Coral Springs, FL 33071-6935
      View Details
    • Value Estimation
      $1,840,000
      7,711 SF

      8931 Atlantic Blvd, Unit 8947

      RETAIL STORES (PERSONAL SERVICES) • 7,711 SF
      8931 Atlantic Blvd, Coral Springs, FL 33071-7026
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    Similar Nearby for Lease

    • Contact for pricing
      33,517 SF

      Coral Springs Retail Space Available

      Retail space for lease in Coral Springs, Florida.
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      2,400 SF

      Retail Space in Coral Springs

      Retail space for lease in a high-traffic Coral Springs location.
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    • $35 SF/Yr
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      Retail Space in Coral Springs

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      University Drive Retail Space Available

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    • $23 SF/Yr

      University Drive Retail Space Available

      8,000 SF retail space with excellent exposure and parking.
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      View Details
    • $35 SF/Yr
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      Retail Space Near Coral Square

      Retail space for lease near Coral Square Mall.
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      View Details
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    Coral Springs, FL 33071-7008
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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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