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Property profile & analytics
OFF-MARKET
Estimated value
$2,270,000
Office buildings
241 4th St Delray Beach, FL 33444-3828
Entity Owned
~
Est. High Equity
Property ID
US18-7439041
Property summary
AI-generated overview
This exceptional Class A, two-story office building, totaling 6,436 square feet, is situated on a sizable 19,750 square foot corner lot in desirable Delray Beach, Florida. Built in 2016, the property boasts a 100% occupancy rate with three long-term tenants: Young Dentistry of DB, PA, Shining Sea Private Wealth, and Wildstar Partners LLC. The building features ample parking, with a 3.1 spaces per 1,000 square feet ratio. Its prime location on NE 4th Street, across from Bedner's Market and Artist's Alley, offers excellent visibility and convenient access to Atlantic Avenue and the vibrant Pineapple Grove area. The property is zoned Residential Office (RO) by the City of Delray Beach and presents a stabilized investment opportunity with strong cash flow potential. The building's address is 241 NE 4th Street, Delray Beach, FL 33444, and its Palm Beach County APN is 12-43-46-09-29-007-0081. This is a rare opportunity to acquire a high-quality, fully occupied office building in a thriving location. All information is believed to be accurate but is not warranted.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2016
Construction
CONCRETE
Total area
6,436 SF
Lot
0.45 ac (19,750 SF)
Zoning code
RO
APN
12-43-46-09-29-007-0081
UPID
US18-7439041
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
-
C A Chuck Bowers - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Debra A Bowers - Associate Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Paige Ottenbrite - Associate Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Young Dentistry, PA Dental Office
-
Dr. Marcie Berger Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$2.72M
Blend (final)
Blend
$2.27M
Owner & transaction history
Mjr Squared Holding LLC
Mjr Squared Holding LLC
since 2025
Last sale
$2.2M
3 recorded transactions
Zoning & alternative use
RO · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+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%
$3,035,000
6.5%
$2,800,000
7%
$2,600,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,030,000
Current use
AUTO REPAIR, GARAGE
$3,180,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$2,535,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$2.27M
Range $2.04M – $2.50M · ±10% · vs last sale $2.20M (Dec 4 2025)
Last sale anchor
$2.20M
Dec 4 2025
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
$353 / 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
$43,534
Tax year 2023
Assessed value
$2,325,783
Assessed 2023
Previous assessed
$2,213,129
+5.1% YoY
Effective rate
1.87%
On assessed value
Assessed land
$626,480
Assessed improvement
$1,699,303
Land market value
$626,480
Improvement market value
$1,699,303
Total market value
$2,325,783
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
2016
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
6,436 SF
Lot
0.45 ac (19,750 SF)
Zoning code
RO
APN
12-43-46-09-29-007-0081
UPID
US18-7439041
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RO · Delray Beach, FL
Zoning 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
Delray Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$2.5M
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
2016
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Mjr Squared Holding LLC
Entity
Mailing address
250 DIXIE BLVD STE #100, DELRAY BEACH, FL 33444-3857
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2025
$2,200,000
Mjr Squared Holding LLC
Bpsi Holdings LLC
Warranty Deed
$1,870,000 · Bank Of America NA
Nov 5, 2024
—
Lauralee Ganson Westine
Mango Lo LLC
Special Warranty Deed
—
Nov 7, 2008
—
Mango Lot LLC
Westine,john R
Grant 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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