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    341 2Nd Ave Delray Beach, FL 33483

    Sponsored
    For Sale
    $3,150,000

    Prime SofA District Location, High Potential

    Property size:
    4,960 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 341 SE 2nd Avenue in Delray Beach, Florida, presents a unique investment opportunity. Boasting 4,960 square feet on a double lot totaling 13,260 square feet, this 7-unit building offers significant upside potential. Constructed in 1957, the property benefits from a highly desirable CBD-RC zoning designation in the thriving SofA District, allowing for both residential and commercial uses. The zoning permits the construction of a mixed-use building up to five stories high, significantly increasing the potential density. Current zoning allows for 30 units per acre, with the possibility of 70 units per acre if 20% of the units are designated as workforce housing. The property's versatility extends to light industrial, warehouse, and multi-family uses. Currently, the building houses long-term, month-to-month tenants, providing a stable income stream for the new owner. Its prime location, just blocks from Atlantic Avenue and the beach, ensures high visibility and strong rental demand. This is a rare opportunity to acquire a substantial property in a rapidly developing area with significant redevelopment potential. The asking price is $3,150,000. Serious inquiries only. Please do not disturb tenants.

    Property Features for 341 2Nd Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,960 SF

    Building Details

    Year Built
    1957
    Units
    7

    HighLights

    • Asking price: $3,150,000
    • Mixed‑use property totaling 4,960 square feet with seven units.
    • Built in 1957, located at 341 SE 2nd Avenue, Delray Beach, FL 33483.
    • Double lot (13,260 sq ft) in Delray Beach's booming SofA District, near Atlantic Avenue and the beach.
    • CBD‑RC zoning allows for mixed‑use development, up to five stories.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mimose's Hair & Nail ... Beauty Salon Optimum Financial Financial Planner

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0707162
    Latitude
    26.4553781

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    FAQs

    What type of property is this?
    Mixed-use property - Prime SofA District Location, High Potential
    Where is this mixed-use property located?
    The property is located at 341 2Nd Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: Asking price: $3,150,000; Mixed-use property totaling 4,960 square feet with seven units.; Built in 1957, located at 341 SE 2nd Avenue, Delray Beach, FL 33483.
    Request Owner's contact information
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    Delray Beach, FL 33483
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    Realmo Value Estimation

    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.

    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.

    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
    341 2Nd Ave Delray Beach, FL 33483
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