Two-Unit Duplex
For Sale
Contact for pricing
2227 NE 3rd Avenue # 2 #1 & 2, Delray Beach, FL 33444
Residential income property with two units at a Delray Beach address.
Property Size1,682 SF
Price / SF$457.19
Days on Market140
Property Features for 2227 NE 3rd Avenue # 2 #1 & 2
General Information
Standard status
Active
Size
1,682 SF
Property subtype
Multifamily
Zoning
R-1-A(
Additional Details
Multifamily Units
2
Building Details
Year Built
1973
Units
2
Listing Agency:
Compass Florida LLC
Listed By:
Jeffrey Creegan · License #3432383
(561) 939-9819
Source:
Crexi
Added: Jun 6
Changed: Oct 9
Last Checked: Oct 23 at 4:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Florida LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex property contains two residential units and is identified as a multifamily asset. The property was built in 1973 and carries a listed property size of 1,682.
The asset is located at 2227 NE 3rd Avenue in Delray Beach, Florida, with the source record identifying unit and suite references for #1 and #2.
The asset is located at 2227 NE 3rd Avenue in Delray Beach, Florida, with the source record identifying unit and suite references for #1 and #2.
Key Highlights
- Two residential units
- Built in 1973
- Listed property size of 1,682
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,039
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,780
$560.8K
Cap Rate 7%
$400,557
$400.6K
Cap Rate 9%
$311,544
$311.5K
Market Conditions
NOI Build-Up for 1,682 SF
Gross rent
$42.4K $25.20/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$40.1K $23.81/SF
− OpEx
−$12.0K −$7.14/SF
NOI
$28.0K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,780
Cap Rate 7%
$400,557
Cap Rate 9%
$311,544
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$369.5K
$323.4K – $431.1K
NOI $25,868 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,919 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with two units at a Delray Beach address.
Where is this duplex located?
The property is located at 2227 NE 3rd Avenue # 2 #1 & 2 Delray Beach, FL.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Two residential units; Built in 1973; Listed property size of 1,682
