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Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Office buildings
151 1st Ave Delray Beach, FL 33444-2611
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-5243445
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1999
Construction
WOOD
Total area
4,258 SF
Lot
0.23 ac (9,871 SF)
Zoning code
OSSHAD
APN
12-43-46-16-01-059-0011
UPID
US18-5243445
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Links Traveler Travel Agency
-
Richardson Partners Business Management Consultant
-
ONEL Construction LLC Construction Company General Contractor
-
Florida Healthcare Law Firm Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.85M
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.35M
Owner & transaction history
2 Wolves Properties LLC · 6 yrs held
2 Wolves Properties LLC
since 2019
4 recorded transactions
Zoning & alternative use
OSSHAD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Old School Square Historic Arts District, OSSHAD is a mixed use district which is intended to provide for mixed uses of residential, office, and commercial activities, with an emphasis on the arts, that will encourage the restoration or preservation of historic structures and, yet, maintain and enhance the historic and pedestrian scale of the area
Zone name
Old School Square Historic Arts District
General category
MIXED_USE
Zone area
44.59 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.1M
+4.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Delray Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delray Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,005,000
6.5%
$1,850,000
7%
$1,720,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,005,000
Current use
AUTO REPAIR, GARAGE
$2,105,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$1,680,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$317 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$34,406
Tax year 2023
Assessed value
$1,780,532
Assessed 2023
Previous assessed
$1,687,472
+5.5% YoY
Effective rate
1.93%
On assessed value
Assessed land
$818,882
Assessed improvement
$961,650
Land market value
$818,882
Improvement market value
$961,650
Total market value
$1,780,532
Applied tax rate
12,987.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
3
Total area
4,258 SF
Lot
0.23 ac (9,871 SF)
Zoning code
OSSHAD
APN
12-43-46-16-01-059-0011
UPID
US18-5243445
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
OSSHAD · Delray Beach, FLZoning OSSHAD · permitted uses
OSSHAD · Delray Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Old School Square Historic Arts District, OSSHAD is a mixed use district which is intended to provide for mixed uses of residential, office, and commercial activities, with an emphasis on the arts, that will encourage the restoration or preservation of historic structures and, yet, maintain and enhance the historic and pedestrian scale of the area
Zone name
Old School Square Historic Arts District
General category
MIXED_USE
Zone area
44.59 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.7M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.23 ac
Current owner
From public records · entity-resolved
2 Wolves Properties LLC
Entity
Mailing address
425 NW 12TH ST, DELRAY BEACH, FL 33444-2975
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2019
$1,960,000
2 Wolves Properties LLC
Celtic Cross Real Estate LLC
Warranty Deed
$1,666,000 · First Citizens Bank & Trust Co
Jun 12, 2014
—
Celtic Cross Real Estate LLC
Friedberg,stephen M
Warranty Deed
—
Mar 28, 2014
$1,200,000
Stephen M Friedberg
151 Properties LLC
Warranty Deed
—
Jan 25, 1999
$88,000
Robert A Dittman
Cfbc Lc
Grant Deed
$427,300 · Suntrust Bank South Florida
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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