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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Retail space
165 2nd Ave Delray Beach, FL 33444-3703
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-0982761
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
CONCRETE
Total area
3,300 SF
Lot
0.1 ac (4,552 SF)
Zoning code
CBD
APN
12-43-46-16-01-083-0031
UPID
US18-0982761
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Third Act Delray Beach LLC · 4 yrs held
Third Act Delray Beach LLC
since 2022
Last sale
$1.9M
2 recorded transactions
Zoning & alternative use
CBD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.0M
+2.1%
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
$1,820,000
ML approach
$1,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,935,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,995,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±10% · vs last sale $1.90M (Jan 14 2022)
Last sale anchor
$1.90M
Jan 14 2022
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
$568 / 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
$31,516
Tax year 2023
Assessed value
$1,543,198
Assessed 2023
Previous assessed
$1,469,010
+5.1% YoY
Effective rate
2.04%
On assessed value
Assessed land
$836,798
Assessed improvement
$706,400
Land market value
$836,798
Improvement market value
$706,400
Total market value
$1,543,198
Applied tax rate
88,987.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
3,300 SF
Lot
0.1 ac (4,552 SF)
Zoning code
CBD
APN
12-43-46-16-01-083-0031
UPID
US18-0982761
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CBD · Delray Beach, FL
Zoning CBD · permitted uses
CBD · Delray Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delray Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Third Act Delray Beach LLC
Entity
Free & Clear · 4 yrs held
Mailing address
165 NE 2ND AVE, DELRAY BEACH, FL 33444-3703
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2026
—
149 2nd Avenue Properties LLC
—
Deed
related
$750,000 · Waterman Bank
Jan 14, 2022
$1,900,000
Third Act Delray Beach LLC
M E T S Management Of Palm Beach In
Warranty Deed
—
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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