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

    7240 W Commercial Blvd Fort Lauderdale, FL 33319

    • Drive through restaurants
    • 2,596 SF
    • 0.67 lot acres
    For Lease
    View listing
    $40 SF/Yr
    Last Sale
    Feb 07, 2023
    $2,175,000
    Value Estimations
    $2,220,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1686897
    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

    • Drive through restaurants

    Property Details for 7240 W Commercial Blvd

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    0.67 lot acres
    Property size
    2,596 SF
    Zone code
    CG
    Property type
    Drive through restaurants
    APN
    49-41-15-14-0050
    APU
    494115140050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,285,000
      ML approach
      $2,240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,554,000
      Market price range: $1.21M - $3.46M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,215,000
      Current use
      OFFICE BUILDING
      $3,460,000
      Change: +56% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,105,000
      Change: -5% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lauderhill
    County
    Broward
    State
    Florida
    Longitude
    -80.2473
    Latitude
    26.1932
    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
    $18,026
    $347,990
    $352,450
    $700,440
    -
    $347,990
    $352,450
    $700,440

    Comparable in this City

    • Value Estimation by Request
      2,592 SF

      3298 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,592 SF
      3298 State Rd 7th 7, Lauderdale Lakes, FL 33319-5615
      View Details
    • Value Estimation by Request
      1,834 SF

      4900 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,834 SF
      4900 State Rd 7th 7, Tamarac, FL 33319-5810
      View Details
    • Value Estimation
      $525,000
      2,336 SF

      7050 Commercial Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,336 SF
      7050 Commercial Blvd, Lauderhill, FL 33319-2122
      View Details
    • Value Estimation
      $695,000
      3,128 SF

      7040 Commercial Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,128 SF
      7040 Commercial Blvd, Lauderhill, FL 33319-2122
      View Details
    • Value Estimation by Request
      2,394 SF

      3399 State Rd 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,394 SF
      3399 State Rd 7th 7, Lauderdale Lakes, FL 33319-5617
      View Details
    • Value Estimation by Request
      1,940 SF

      7340 Commercial Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,940 SF
      7340 Commercial Blvd, Lauderhill, FL 33319-2128
      View Details

    Similar Nearby for Sale

    • $89,000

      Turnkey Restaurant/Bar in Tamarac

      Established Eatery, Fully Equipped, $89K
      5256 University Dr, Tamarac, FL 33319
      View Details
    • Contact for pricing

      Retail or Office Space Available

      800 SF retail/office space in busy shopping center.
      5405 N State Road 7, Fort Lauderdale, FL 33319
      View Details
    • $45,000

      Tattoo Studio Business Opportunity

      Established tattoo and piercing studio for sale in Tamarac.
      5301 N State Road 7, Fort Lauderdale, FL 33319
      View Details
    • Contact for pricing

      Retail Space on State Road

      Strip retail space available on a high-traffic road.
      4101 N State Road 7, Lauderdale Lakes, FL 33319
      View Details
    • Contact for pricing
      1.33 Acres

      Lauderhill Retail Investment Opportunity

      Prime Commercial Blvd location, high traffic count.
      7240 Commercial Blvd, Lauderhill, FL 33319
      View Details
    • Contact for pricing

      Retail Space on State Road

      1,168 SF retail space in Lauderdale Lakes, Florida.
      4101 N State Road 7, Lauderdale Lakes, FL 33319
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      57,996 SF

      Lauderhill Retail Development Opportunity

      New retail development with drive-through and ample parking.
      7240 W Commercial Blvd, Fort Lauderdale, FL 33319
      View Details
    • $40 SF/Yr

      Commercial Blvd Retail Development

      New retail, office, and medical space for lease on Commercial Blvd.
      7240 W Commercial Blvd, Fort Lauderdale, FL 33319
      View Details
    • Contact for pricing
      9,500 SF

      Commercial Blvd Retail Spaces

      Lauderhill, FL: Prime Retail & Office
      7240 Commercial Blvd, Lauderhill, FL 33319
      View Details
    • $14 SF/Yr
      66,103 SF

      Oakbrook Plaza: Lauderhill Retail Space

      Lauderhill retail center, high traffic, multiple spaces available.
      7101 Oakland Park Blvd, Lauderhill, FL 33319
      View Details
    • Contact for pricing
      181,576 SF

      Ft. Lauderdale Plaza Retail Space

      Prime Broward County retail space available.
      0 Commercial Blvd. & University Dr, Tamarac, FL 33319
      View Details
    • $19,800 /Mo
      1,592 SF

      High-Visibility Auto Sales Location

      Prime location for auto sales with high traffic and visibility.
      5350 N State Road 7, Fort Lauderdale, FL 33319
      View Details
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    Fort Lauderdale, FL 33319
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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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