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Property profile & analytics
OFF-MARKET Estimated value $16,615,000
Community centers

8903 Glades Rd Boca Raton, FL 33434-4074

61,019 SF 17.79 ac lot Built 1987
Entity Owned 14-yr Hold Absentee Owner Free & Clear
Property ID
US18-4550849
Property summary
AI-generated overview

Somerset Shoppes, a Class B retail center in Boca Raton, Florida, offers 187,650 square feet of space across seven single-story buildings situated on 17.78 acres. This multi-tenant property is located at the northeast corner of Glades Road and Lyons Road, a high-traffic area within a densely populated region experiencing significant new retail development. The center boasts a diverse tenant mix, including established national brands such as Michael's, TJ Maxx, Saks Off 5th, Lenscrafters, Men's Warehouse, Orange Theory Fitness, Jersey Mike's Subs, Jenny Craig, Vitamin Shoppe, and Chase. Units are available from a minimum of 900 square feet, with 6,354 square feet currently vacant. The property was originally built in 1987 and underwent renovations in 2024, enhancing its curb appeal and functionality. The center is zoned for commercial use and features no elevators. This presents a unique opportunity to invest in a well-located, established retail center with strong co-tenancy and significant upside potential in a thriving Boca Raton market. The property's prominent location and recent upgrades make it an attractive option for a variety of retail businesses.

Property profile
Verified
Property type Community centers
Use group MINI-MALL
Year built 1987
Construction CONCRETE
Total area 61,019 SF
Lot 17.79 ac (774,850 SF)
Zoning code CG
APN 00-42-43-27-05-076-0492
UPID US18-4550849
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Peter S. Wohlgemuth DMD, PA Dental Office
  • Sure Smile Dental Office
  • Dr. Ben Galin, DPT Medical Clinic
  • Jordan Seth Moseson, DO Physician
  • Accident Doctor Group Medical Group Chiropractor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$18.07M
Comparable Approach Comparable
by Request
Blend (final) Blend
$16.62M
Owner & transaction history
Everglades Petroleum LLC · 14 yrs held
Everglades Petroleum LLC
since 2011
2 recorded transactions
2011
$300,000
2011
$22,500
Zoning & alternative use
CG · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The symbol city CG shall refer to the city CG commercial general district and shall be used to designate all land so zoned. (Ord. No. 5461, § 1, 10-23-18) Sec. 28-933. - Scope/adoption of regulations. Except as provided herein, all regulations set forth in the Palm Beach Unified Land Development Code (including Supplements 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, and…

Zone name General Commercial
General category COMMERCIAL
Zone area 147.72 ac
Source code of ordinances
Top alternative use upside
Retail stores $24.3M +0.9%
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