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Property profile & analytics
OFF-MARKET
Estimated value
$2,840,000
Turn key restaurants
301 3rd Ave Delray Beach, FL 33444-3811
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-0059710
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1960
Construction
WOOD
Total area
2,612 SF
Lot
0.13 ac (5,663 SF)
Zoning code
CBD
APN
12-43-46-16-01-089-0010
UPID
US18-0059710
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 BEACH TAXI Courier Service
-
Someday Radio Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.84M
Owner & transaction history
Chazmonti LLC · 4 yrs held
Chazmonti LLC
since 2022
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
CBD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.4M
+31.6%
Retail stores
$2.3M
+28.9%
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
$2,735,000
ML approach
$2,935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,805,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,370,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$2,325,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$2.84M
Range $2.56M – $3.12M · ±10% · vs last sale $2.85M (Jun 1 2022)
Last sale anchor
$2.85M
Jun 1 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
$1,087 / 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
$31,697
Tax year 2023
Assessed value
$1,431,099
Assessed 2023
Previous assessed
$995,259
+43.8% YoY
Effective rate
2.21%
On assessed value
Assessed land
$1,047,655
Assessed improvement
$383,444
Land market value
$1,047,655
Improvement market value
$383,444
Total market value
$1,431,099
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,612 SF
Lot
0.13 ac (5,663 SF)
Zoning code
CBD
APN
12-43-46-16-01-089-0010
UPID
US18-0059710
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
RESTAURANT Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
RETAIL STORES
Est. value
$2.3M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1960
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Chazmonti LLC
Entity
Mailing address
9608 LK SERENA DR, BOCA RATON, FL 33496-6518
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2022
$2,850,000
Chazmonti LLC
Shaka 3 LLC
Special Warranty Deed
—
Sep 9, 2016
$600,000
Shaka 3 LLC
Secret Palate LLC
Warranty Deed
—
Sep 9, 2016
—
Secret Palate LLC
Chubby Johnson JR LLC
Grant Deed
—
Jan 23, 2012
$390,000
Secret Palate LLC
Gochenour Michael E
Grant Deed
—
Jul 20, 2010
$415,000
Chubby Johnson JR LLC
Cit Small Busn Lending Corp
Warranty Deed
$150,000 · Carlos M & Martina Vergara
Mar 15, 2010
$230,400
Cit Small Busn Lending Corp
Mortgage Electronic Rg Coc
Trustees Deed
related
—
Aug 29, 2008
$27,500
Frank Merlo
Blacktip Reef Restaurant LLC
Warranty Deed
—
Aug 31, 2006
$890,000
Blacktip Reef Restaurant LLC
Thomas M Stanley
Deed
—
Jan 13, 2005
$400,000
Stanley Thomas M Tr
Power,anna F
Warranty Deed
$300,000 · Gulfstream Business Bank
—
—
Blacktip Reef Restaurant LLC
—
Deed Of Trust
related
$300,000 · Frank Merlo
—
—
Secret Palate LLC
—
Deed Of Trust
related
$580,000 · Paradise Bk
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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