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    375 2Nd Ave Delray Beach, FL 33483

    For Sale
    $6,400,000

    CBD Location, Multi-Use Potential, $6.4M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 0 sq ft lot at 375 SE 2nd Avenue in Delray Beach, Florida, presents a unique investment opportunity. Located in the heart of the Central Business District (CBD), this property boasts RC zoning, permitting both residential and commercial development. The current zoning allows for a density of 30 units per acre, and the site is approved for construction up to four stories high. Currently designated as Special Purpose, this 1-unit property, built in 1949, offers significant redevelopment potential. Demolition permits have already been submitted, streamlining the process for future construction. This property is particularly attractive due to its location and zoning flexibility, making it ideal for a mixed-use development or multi-family project. Consider this property as a standalone investment or as part of a larger portfolio, as it can be combined with adjacent properties at 369 SE 2nd, 383 SE 2nd, and 391 SE 2nd Avenues for a larger-scale development project. The asking price for this prime Delray Beach location is $6,400,000. This represents a rare chance to acquire a strategically located parcel in a thriving Florida market. The property's central location offers easy access to local amenities, transportation, and the vibrant Delray Beach community.

    Property Features for 375 2Nd Ave

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1949
    Units
    1

    HighLights

    • $6,400,000 Asking Price
    • Special Purpose Property, 1 Unit
    • 1949 Year Built
    • 0 sq ft Lot Size
    • Located at 375 SE 2nd Avenue, Delray Beach, FL 33483, in the Central Business District (CBD) with RC zoning allowing residential and commercial use. Demolition permits submitted. Potential for multi‑family development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ramsey shop Auto Repair Shop SEVENS TIRE SHOP ... Tire Shop

    Suggested Use

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

    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
    -80.0706837
    Latitude
    26.454829

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    FAQs

    What type of property is this?
    Specialty property - CBD Location, Multi-Use Potential, $6.4M
    Where is this specialty property located?
    The property is located at 375 2Nd Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $6,400,000.
    What are key features of this property?
    This property features: $6,400,000 Asking Price; Special Purpose Property, 1 Unit; 1949 Year Built
    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
    375 2Nd Ave Delray Beach, FL 33483
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