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

    951 56th St Oakland Park, FL 33334

    • Office buildings
    • 13,992 SF
    • 4.35 lot acres
    OFF-MARKET
    Value Estimations
    $5,980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5799691
    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

    • Office buildings

    Property Details for 951 56th St

    Year built
    1961
    Construction
    CONCRETE
    Lot size
    4.35 lot acres
    Property size
    13,992 SF
    Zone code
    CF
    Property type
    Office buildings
    APN
    49-42-11-23-0030
    APU
    494211230030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,145,000
      6.5%
      $6,595,000
      7%
      $6,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,582,000
      Market price range: $3.72M - $6.62M
      AI Estimate
      $4,767,000
      Market price range: $2.54M - $5.76M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,370,000
      Current use
      COMMERCIAL (GENERAL)
      $7,250,000
      Change: +35% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $6,575,000
      Change: +22% Conversion: Difficult
      MEDICAL BUILDING
      $6,520,000
      Change: +21% Conversion: Easy
      RETAIL STORES
      $5,530,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Park
    County
    Broward
    State
    Florida
    Longitude
    -80.1344
    Latitude
    26.1979
    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
    $69,719
    $1,327,470
    $1,753,670
    $3,081,140
    -
    $1,327,470
    $1,753,670
    $3,081,140

    Comparable in this City

    • Value Estimation
      $38,770,000
      105,133 SF

      600 Corporate Dr

      OFFICE BUILDING (MULTI-STORY) • 105,133 SF
      600 Corporate Dr, Fort Lauderdale, FL 33334-3637
      View Details
    • Value Estimation by Request
      1,003 SF

      211 44th St

      OFFICE BUILDING • 1,003 SF
      211 44th St, Oakland Park, FL 33334-1441
      View Details
    • Value Estimation
      $2,740,000
      6,486 SF

      1608 Commercial Blvd

      OFFICE BUILDING (MULTI-STORY) • 6,486 SF
      1608 Commercial Blvd, Oakland Park, FL 33334-5719
      View Details
    • Value Estimation by Request
      1,190 SF

      471 Commercial Blvd

      OFFICE BUILDING • 1,190 SF
      471 Commercial Blvd, Oakland Park, FL 33334-2413
      View Details
    • Value Estimation
      $43,685,000
      122,775 SF

      800 Corporate Dr

      OFFICE BUILDING (MULTI-STORY) • 122,775 SF
      800 Corporate Dr, Fort Lauderdale, FL 33334-3616
      View Details
    • Value Estimation by Request
      2,186 SF

      3501-3503 Dixie Hwy

      OFFICE BUILDING • 2,186 SF
      3501-3503 Dixie Hwy, Oakland Park, FL 33334
      View Details

    Similar Nearby for Sale

    • $517,702

      Oakland Park Office Building For Sale

      1,654 SF office building in thriving Oakland Park area.
      370 NE 44Th St, Fort Lauderdale, FL 33334
      View Details
    • Contact for pricing
      14,471 SF

      Fort Lauderdale Medical Office Building

      Two-story medical office building, fully leased, prime location.
      2151 E Commercial Blvd, Fort Lauderdale, FL 33334
      View Details
    • Contact for pricing
      7,018 SF

      Two-Story Office Building For Sale

      7,018 SF office building with 16 parking spaces.
      1601 NE 26Th Dr, Wilton Manors, FL 33334
      View Details
    • $1,500,000

      Oakland Park Freestanding Office Building

      Freestanding office building in Oakland Park's busy business district.
      400 NE 44Th St, Oakland Park, FL 33334
      View Details
    • $949,900
      2,750 SF

      Renovated Flex Office in Oakland

      Renovated flex office space in Oakland Park's Culinary Arts District.
      3496 NE 12 Ter Ter, Oakland Park, FL 33334
      View Details
    • $9,900,000
      1.30 Acres

      Oakland Park Mixed-Use Investment

      Prime Broward County location, high traffic, flexible zoning.
      1299 Oakland Park Blvd, Oakland Park, FL 33334
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      Freestanding Office Building For Lease

      Freestanding Oakland Park office building with gated yard for lease.
      3328 NE 11Th Ave, Oakland Park, FL 33334
      View Details
    • $24 SF/Yr
      9,909 SF

      Class A Office Space Available

      Six-story Class A office building in Cypress Creek area.
      600 Corporate Dr, Fort Lauderdale, FL 33334
      View Details
    • $16 SF/Yr
      7,965 SF

      Modern Office Building For Rent

      Two-story office building with renovated common areas and direct highway access.
      3201 W Commercial Blvd, Fort Lauderdale, FL 33334
      View Details
    • $1,895 /Mo

      Salon Suites on Oakland Park

      Established salon with suites in high-traffic Wilton Manors location.
      24 East Oakland Park Blvd, Wilton Manors, FL 33334
      View Details
    • $30 SF/Yr
      14,946 SF

      Oakland Park Medical Office Space

      Modern Suites, Flexible Sizes, Prime Location
      1299 Commercial Blvd, Oakland Park, FL 33334
      View Details
    • Contact for pricing

      Fort Lauderdale Office Sublease

      Cypress Creek A-Class Office Space
      1000 Corporate Dr, Fort Lauderdale, FL 33334
      View Details
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    951 56th St
    Oakland Park, FL 33334
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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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