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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Office buildings
229 George Bush Blvd Delray Beach, FL 33444-4034
Entity Owned
7-yr Hold
Free & Clear
Property ID
US18-3648011
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1974
Construction
CONCRETE
Total area
2,348 SF
Lot
0.34 ac (14,854 SF)
Zoning code
RO
APN
12-43-46-09-28-012-0230
UPID
US18-3648011
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
-
Palm Coast Surgical Associates Medical Clinic Hospital
-
The Policy Shop Insurance Agency
-
Dr. Philip Harris Physician
-
Paul Hyland, MD, FACS Physician
-
Collegiate Sneaker Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$730k
Owner & transaction history
Ggb LLC · 7 yrs held
Ggb LLC
since 2019
5 recorded transactions
Zoning & alternative use
RO · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Residential Office (RO) District provides for mixed use of a neighborhood office and residential nature and a transitional land use between a commercial or industrial area and a residential area, An incentive zoning in older residential areas which are in the need of redevelopment or revitalization or are in a state of transition
Zone name
Residential Office
General category
MIXED_USE
Zone area
21.23 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.2M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,105,000
Current use
AUTO REPAIR, GARAGE
$1,160,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$925,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$311 / 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
$15,726
Tax year 2023
Assessed value
$855,290
Assessed 2023
Previous assessed
$732,518
+16.8% YoY
Effective rate
1.84%
On assessed value
Assessed land
$516,508
Assessed improvement
$338,782
Land market value
$516,508
Improvement market value
$338,782
Total market value
$855,290
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
1974
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,348 SF
Lot
0.34 ac (14,854 SF)
Zoning code
RO
APN
12-43-46-09-28-012-0230
UPID
US18-3648011
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RO · Delray Beach, FLZoning RO · permitted uses
RO · Delray Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Residential Office (RO) District provides for mixed use of a neighborhood office and residential nature and a transitional land use between a commercial or industrial area and a residential area, An incentive zoning in older residential areas which are in the need of redevelopment or revitalization or are in a state of transition
Zone name
Residential Office
General category
MIXED_USE
Zone area
21.23 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$925,000
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
1974
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Ggb LLC
Entity
Free & Clear · 7 yrs held
Mailing address
25 CURLEW RD, LANTANA, FL 33462-4722
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2019
$100
Ggb LLC
Hyland,paul F & Gina G
Warranty Deed
—
Apr 17, 2019
$100
Paul F Hyland
Hyland,paul F & Gina G
Correction Deed
related
—
Aug 9, 2005
—
Gbb LLC
Hyland,paul F & Gina
Quit Claim Deed
related
—
Mar 11, 2000
$230,000
Paul F Hyland
Kucera Trust
Grant Deed
$200,000 · Individual
Jan 7, 1997
$100
Frank E Kucera Trustee
Kucera,frank E & Lynne H
Quit Claim Deed
related
—
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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