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

    7880 Glades Rd Boca Raton, FL 33434

    • Turn key restaurants
    • 5,431 SF
    • 0.18 lot acres
    For Lease
    View listing
    Last Sale
    Feb 08, 2021
    $10,300,000
    Value Estimations
    $9,600,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3708383
    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

    • SunTrust Mortgage / Loan Service / Bank
    • Lakeside Terrace Boca Raton / Hotel & Motel / Resort

    Property Details for 7880 Glades Rd

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.18 lot acres
    Property size
    5,431 SF
    Zone code
    CG
    Property type
    Turn key restaurants
    APN
    00-42-47-16-00-000-7020
    APU
    424716000007020

    Description

    This exceptional 36,230 square foot retail center in Boca Raton, Florida, presents a compelling investment opportunity. Boasting 100% occupancy across ten tenants, the property features a diverse mix of restaurant, shopping center, and storefront spaces. Recently renovated in 2024, upgrades include landscaping, façade improvements, a new HVAC system, and elevator modernization. Multiple tenants have recently extended their leases, converting to triple-net (NNN) agreements, creating a value-add opportunity for the buyer to further enhance returns by converting remaining tenants to NNN leases. Strategically located on Glades Road, a major east-west artery with over 49,000 vehicles daily, the center benefits from its prime position at the intersection of Glades Road and the Florida Turnpike, experiencing a combined daily traffic count of approximately 160,000 vehicles. Its proximity to I-95 ramps (over 225,000 vehicles daily) further enhances its visibility and accessibility. The property sits on a 6.88-acre lot and was originally built in 1986. The strong demographics of the area, with over 100,000 residents within three miles and over 250,000 within five miles, boast an average annual household income of $138,223 within one mile, projected to reach $151,494 by 2028. The area is experiencing significant residential growth, with several new developments adding thousands of homes in close proximity. The asking price is $10,000,000, representing a price per square foot of $276.01 and a 6.58% cap rate, with a current Net Operating Income (NOI) of $658,008. An adjacent parcel offers a potential purchase option through Bank OZK.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $10,750,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.1672
    Latitude
    26.3661
    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
    $16,738
    $202,535
    $617,534
    $820,069
    -
    $202,535
    $617,534
    $820,069

    Comparable in this City

    • Value Estimation
      $520,000
      5,318 SF

      8841 Glades Rd

      RESTAURANT • 5,318 SF
      8841 Glades Rd, Boca Raton, FL 33434-4017
      View Details
    • Value Estimation by Request
      2,716 SF

      8175 Glades Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,716 SF
      8175 Glades Rd, Boca Raton, FL 33434-4003
      View Details
    • Value Estimation
      $2,040,000
      9,000 SF

      20655 Lyons Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,000 SF
      20655 Lyons Rd, Boca Raton, FL 33434-3947
      View Details
    • Value Estimation
      $615,000
      3,966 SF

      8851 Glades Rd

      FINANCIAL BUILDING • 3,966 SF
      8851 Glades Rd, Boca Raton, FL 33434-4017
      View Details
    • Value Estimation
      $19,100,000
      70,912 SF

      9536 Glades Rd

      MINI-MALL • 70,912 SF
      9536 Glades Rd, Boca Raton, FL 33434-3945
      View Details
    • Value Estimation by Request
      10,940 SF

      9787 Glades Rd

      AUTO REPAIR, GARAGE • 10,940 SF
      9787 Glades Rd, Boca Raton, FL 33434-3916
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      5,641 SF

      Restaurant/Ballroom Space For Rent

      Second generation restaurant/ballroom space with lakeside patio view.
      7880 Glades Rd, Boca Raton, FL 33434
      View Details
    • Contact for pricing
      3,161 SF

      Retail Space in Boca Raton

      Retail space for lease in prime Boca Raton location.
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      Retail Space on Glades Road

      Retail space for rent near Florida Atlantic University.
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    • Contact for pricing
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      Retail Space in Boca Raton

      7,125 SF retail space available for lease.
      9789 Glades Rd, Boca Raton, FL 33434
      View Details
    • Contact for pricing
      13,000 SF

      Retail Space in Boca Raton

      Retail property available for lease in Boca Raton, Florida.
      9831-9851 Glades Rd, Boca Raton, FL 33434
      View Details
    • Contact for pricing
      3,103 SF

      Retail Space in Boca Raton

      Retail space available in a shopping center with national retailers.
      3003 W Yamato Rd, Boca Raton, FL 33434
      View Details
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    Boca Raton, FL 33434
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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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