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    342 3Rd Ave Delray Beach, FL 33444

    Sponsored
    For Sale
    $3,500,000

    Historic building, high-growth area. Six units, huge potential.

    Property size:
    3,067 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional special-purpose property, located at 342 NE 3rd Avenue in Delray Beach, Florida, presents a unique investment opportunity. The 3,067 square foot building, constructed in 1946, sits on a 10,167+/- square foot lot and boasts six units. Its strategic location within the Central Business District (CBD) – specifically the Railroad Corridor and Pineapple Grove – offers unparalleled access to Delray Beach's vibrant downtown area. The property's zoning allows for a diverse range of uses, including office, retail, restaurant, and mixed-use developments, with a maximum height of 48 feet. The building features two overhead doors, providing convenient access for various businesses. Its advantageous position offers frontage on NE 3rd Avenue and alley access, enhancing visibility and accessibility. Furthermore, the property benefits from its proximity to two city parking lots, addressing a key concern for potential tenants and customers. The asking price for this remarkable property is $3,500,000. This presents a rare chance to acquire a well-situated asset in a thriving Florida market with significant upside potential.

    Property Features for 342 3Rd Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    3,067 SF

    Building Details

    Year Built
    1946
    Units
    6

    HighLights

    • $3,500,000 asking price.
    • Special purpose property with 3,067 square feet.
    • Six units.
    • Built in 1946.
    • Located at 342 NE 3rd Avenue, Delray Beach, FL 33444, in the Pineapple Grove area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -80.0704717
    Latitude
    26.4679934

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    FAQs

    What type of property is this?
    Specialty property - Historic building, high-growth area. Six units, huge potential.
    Where is this specialty property located?
    The property is located at 342 3Rd Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: $3,500,000 asking price.; Special purpose property with 3,067 square feet.; Six units.
    Request Owner's contact information
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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
    342 3Rd Ave Delray Beach, FL 33444
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