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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$21,476,170
6.5%
$19,824,158
7%
$18,408,146
Comparable approach
Method
Valuation
Relative Method
$29,709,492
Geo Method
$29,709,492
Alternative Use
Use
Valuation
Residential
$16,722,419
Hospitality
$15,317,646
Educational
$12,744,101
Medical
$13,182,391
Retail
$19,824,158
Location Insight
City
Boca Raton
County
Palm Beach
State
Florida
Latitude
26.3693
Longitude
-80.1848
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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