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    Property profile & analytics

    2290 2nd Ave Boca Raton, FL 33431-6763

    • Office buildings
    • 4,342 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2023
    $3,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1942005
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mager by Michel / Hair Salon
    • City Choice Home Health Care of Florida / Home Health Care Service
    • Elegance Essence Corp / Hair Salon / Nail Salon
    • JVB Implex / Property Management Company
    • LASER 4 YOU / Skin Care Clinic

    Property Details for 2290 2nd Ave

    Year built
    1979
    Construction
    CONCRETE
    Lot size
    0.73 lot acres
    Property size
    4,342 SF
    Zone code
    B-1
    Property type
    Office buildings
    APN
    06-43-47-17-29-020-0150
    APU
    6434717290200150

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Boca Raton
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0888
    Latitude
    26.371
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $42,709
    $800,000
    $1,457,324
    $2,257,324
    -
    $800,000
    $1,457,324
    $2,257,324

    Comparable in this City

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      49,871 SF

      1900 Corporate Blvd

      OFFICE BUILDING (MULTI-STORY) • 49,871 SF
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      View Details
    • Value Estimation
      $1,710,000
      6,111 SF

      2000 Dixie Hwy

      OFFICE BUILDING (MULTI-STORY) • 6,111 SF
      2000 Dixie Hwy, Boca Raton, FL 33431-8000
      View Details
    • Value Estimation
      $2,275,000
      5,177 SF

      428 35th St

      OFFICE BUILDING (MULTI-STORY) • 5,177 SF
      428 35th St, Boca Raton, FL 33431-5708
      View Details
    • Value Estimation
      $4,295,000
      16,086 SF

      1001 Telecom Dr

      OFFICE BUILDING (MULTI-STORY) • 16,086 SF
      1001 Telecom Dr, Boca Raton, FL 33431-4422
      View Details
    • Value Estimation
      $1,060,000
      3,519 SF

      4800 Federal Hwy Ste 201e

      OFFICE BUILDING • 3,519 SF
      4800 Federal Hwy Ste 201e, Boca Raton, FL 33431-3415
      View Details
    • Value Estimation
      $1,240,000
      4,200 SF

      4651 Federal Hwy

      OFFICE BUILDING (MULTI-STORY) • 4,200 SF
      4651 Federal Hwy, Boca Raton, FL 33431-5133
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Move-in Ready Boca Raton Office

      925 SF office suite with excellent South Florida connectivity.
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      Boca Raton Medical Office Space

      2,554 SF medical office space in Boca Raton, Florida.
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    • $1,500,000
      3,278 SF

      Boca Raton Medical Office Condo

      Class A, 3,278 sq ft, Vacant, Owner/User
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      3,503 SF

      Boca Raton Medical Condos Investment

      Two medical condos in Boca Raton with long-term leases.
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      Move-in Ready Boca Raton Office

      925 SF office suite with excellent South Florida connectivity.
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      987 SF

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      987 SF commercial space in prime East Boca location.
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    Similar Nearby for Lease

    • $38 SF/Yr
      9,917 SF

      LEED Gold Certified Office Space

      Class A office building with covered parking in Boca Raton.
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      40,000 SF

      Boca Raton Office Space

      40000 sqft office building available for rent.
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      Class-A Boca Raton Office Space

      Renovated office building with high-end amenities and convenient location.
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      171,724 SF

      Class A Office Park Location

      Premier office space in Boca Raton with excellent regional access.
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      View Details
    • Contact for pricing
      30,367 SF

      Boca Raton Office Building

      Three-story office building with fitness center and auditorium.
      1905 NW Corporate Blvd, Boca Raton, FL 33431
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    • $36 SF/Yr

      Boca Raton Office Space Available

      Professionally managed office building in Glades Corporate Park.
      2201 NW Corporate Blvd, Boca Raton, FL 33431
      View Details
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    2290 2nd Ave
    Boca Raton, FL 33431-6763
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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