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

    838 Northlake Blvd North Palm Beach, FL 33408-5210

    • Strip malls
    • 6,800 SF
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0933152
    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

    • Strip malls

    Property Details for 838 Northlake Blvd

    Year built
    1966
    Construction
    WOOD
    Lot size
    0.52 lot acres
    Property size
    6,800 SF
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    36-43-42-20-03-126-0010
    APU
    36434220031260010

    Description

    This exceptional 6,800-square-foot retail space is located at 838 Northlake Boulevard in Lake Park, Florida, 33408. The property is a single-tenant, freestanding building situated on a highly trafficked section of Northlake Boulevard, just east of Prosperity Farms Road. The building features a C1 zoning designation and APN 36434220031260010. This endcap space offers a perfect layout for various uses, including traditional office spaces or businesses requiring office areas and internal storage. Ample, free, unreserved parking is available for both employees and customers. Recent improvements include repaving and resealing of the parking lot. The property benefits from its location amongst established businesses, providing excellent visibility and accessibility. This is a unique opportunity to secure a prominent location in a thriving commercial area. The building is beautifully maintained and presents a single-story design. The property's address is easily accessible and highly visible from Northlake Boulevard, ensuring strong exposure to potential customers. This space offers a compelling combination of location, amenities, and functionality, making it an ideal choice for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $773,000
      Market price range: $397k - $1.54M

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

    Location Insight

    • Map
    • Local Demand
    City
    North Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0712
    Latitude
    26.8076
    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
    $26,611
    $452,000
    $767,722
    $1,219,722
    -
    $452,000
    $767,722
    $1,219,722

    Comparable in this City

    • Value Estimation
      $1,260,000
      7,248 SF

      601 Northlake Blvd Ste A

      SHOPPING CENTER, STRIP CENTER • 7,248 SF
      601 Northlake Blvd Ste A, North Palm Beach, FL 33408-5311
      View Details
    • Value Estimation
      $960,000
      5,455 SF

      721 Northlake Blvd Ste A

      SHOPPING CENTER, STRIP CENTER • 5,455 SF
      721 Northlake Blvd Ste A, North Palm Beach, FL 33408-5281
      View Details
    • Value Estimation
      $1,845,000
      12,748 SF

      11400 Us Hwy 1st 1

      SHOPPING CENTER, STRIP CENTER • 12,748 SF
      11400 Us Hwy 1st 1, Palm Beach Gardens, FL 33408
      View Details
    • Value Estimation
      $1,630,000
      4,753 SF

      750 Northlake Blvd

      SHOPPING CENTER, STRIP CENTER • 4,753 SF
      750 Northlake Blvd, North Palm Beach, FL 33408-5208
      View Details
    • Value Estimation
      $590,000
      3,465 SF

      800 Northlake Blvd

      SHOPPING CENTER, STRIP CENTER • 3,465 SF
      800 Northlake Blvd, North Palm Beach, FL 33408-5210
      View Details
    • Value Estimation
      $2,730,000
      16,984 SF

      11951 Us Hwy 1st 1

      SHOPPING CENTER, STRIP CENTER • 16,984 SF
      11951 Us Hwy 1st 1, North Palm Beach, FL 33408-2804
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • $32 SF/Yr
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      Prime North Palm Beach Retail Space

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      View Details
    • $20 SF/Yr
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    • Contact for pricing
      2,000 SF

      Prime North Palm Beach Retail Space

      Free-standing retail building, 2,000 sq ft.
      537 Northlake Blvd, North Palm Beach, FL 33408
      View Details
    • Contact for pricing
      23,500 SF

      Prime North Palm Beach Retail Space

      Medical Office Suite, 2,000 SF Available
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    • $40 SF/Yr
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      North Palm Beach Retail Space

      New medical/retail space in North Palm Beach for lease.
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      View Details
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    North Palm Beach, FL 33408-5210
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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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