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

    878 Palmetto Park Rda Boca Raton, FL 33432-5106

    • Office buildings
    • 1,897 SF
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1975288
    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

    • house cleaning boca raton / Contractor
    • Title & Abstract Agency Of America - Boca Raton / Title Company

    Property Details for 878 Palmetto Park Rda

    Year built
    2000
    Construction
    CONCRETE BLOCKS
    Property size
    1,897 SF
    Property type
    Office buildings
    APN
    06-43-47-29-51-000-0010
    APU
    6434729510000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $722,000
      Market price range: $414k - $1.24M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $690,000
      Current use
      RETAIL STORES
      $755,000
      Change: +10% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $750,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $750,000
      Change: +9% Conversion: Easy
      WAREHOUSE, STORAGE
      $650,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0728
    Latitude
    26.3504
    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
    $10,198
    $0.00
    $583,898
    $583,898
    -
    $0.00
    $583,898
    $583,898

    Comparable in this City

    • Value Estimation
      $2,515,000
      8,443 SF

      215 Federal Hwy

      OFFICE BUILDING (MULTI-STORY) • 8,443 SF
      215 Federal Hwy, Boca Raton, FL 33432-3994
      View Details
    • Value Estimation
      $3,990,000
      14,354 SF

      601 Federal Hwy

      OFFICE BUILDING (MULTI-STORY) • 14,354 SF
      601 Federal Hwy, Boca Raton, FL 33432-5548
      View Details
    • Value Estimation
      $2,720,000
      11,862 SF

      399 Palmetto Park Rd

      OFFICE BUILDING (MULTI-STORY) • 11,862 SF
      399 Palmetto Park Rd, Boca Raton, FL 33432-3760
      View Details
    • Value Estimation
      $1,710,000
      8,873 SF

      1612 2nd Ave

      OFFICE BUILDING (MULTI-STORY) • 8,873 SF
      1612 2nd Ave, Boca Raton, FL 33432-1662
      View Details
    • Value Estimation
      $1,525,000
      5,364 SF

      1098 2nd Ave

      OFFICE BUILDING (MULTI-STORY) • 5,364 SF
      1098 2nd Ave, Boca Raton, FL 33432-2620
      View Details
    • Value Estimation
      $1,855,000
      6,464 SF

      20 3rd St

      OFFICE BUILDING (MULTI-STORY) • 6,464 SF
      20 3rd St, Boca Raton, FL 33432-4914
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,840 SF

      Walgreens Anchored Shopping Center

      26,840 SF shopping center anchored by Walgreens.
      1001 SW 2Nd Ave, Boca Raton, FL 33432
      View Details
    • Contact for pricing
      12,315 SF

      Boca Raton Office Space

      Office space near Brightline, Mizner Park, and Downtown Boca Raton.
      140 Nw 4Th St, Boca Raton, FL 33432
      View Details
    • Contact for pricing

      Stabilized South Florida Rental Portfolio

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    • $2,495,000

      Downtown Boca Raton Storage Unit

      Two-story, 3,200 SF unit near downtown Boca Raton.
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    • $300,000

      Established Restaurant in Prime Location

      Turnkey Gyro restaurant in Mizner, Boca Raton's dining district.
      122 NE 2Nd St, West Palm Beach, FL 33432
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    • $2,395,000
      0.23 Acres

      Por La Mar Land Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,072 SF

      Class A Office Space

      Luxury office space in downtown Boca Raton near Mizner Park.
      101 N Federal Hwy, Boca Raton, FL 33432
      View Details
    • $25 SF/Yr
      1,000 SF

      Four-Story Office Building For Rent

      107,333 SF office building near Downtown Boca Raton.
      1515 N Federal Hwy, Boca Raton, FL 33432
      View Details
    • Contact for pricing

      Class A Office Building

      Premium office space in the heart of Downtown Boca Raton.
      150 East Palmetto Park Rd, Boca Raton, FL 33432
      View Details
    • $38 SF/Yr
      5,572 SF

      LEED Gold Certified Office Space

      Class A office building with covered parking in Boca Raton.
      1799-1825 NW 2Nd Ave, Boca Raton, FL 33432
      View Details
    • $65 SF/Yr
      10,566 SF

      Trophy Office Tower in Boca

      Luxurious office tower with smart features and hyper-amenities.
      123-135 E Palmetto Park Rd, Boca Raton, FL 33432
      View Details
    • $65 SF/Yr
      140,000 SF

      Boca Raton Class A Office Space

      140,000 SF, Modern Office Building
      119 Palmetto Park Rd, Boca Raton, FL 33432
      View Details
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    Boca Raton, FL 33432-5106
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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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