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Property profile & analytics
OFF-MARKET
Estimated value
$68,680,000
High-rise multifamily apartments
32 2nd Ave Delray Beach, FL 33444-3601
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-2350256
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2010
Construction
STEEL FRAME
Total area
298,286 SF
Lot
2.36 ac (102,998 SF)
Zoning code
CBD
APN
12-43-46-16-M1-001-0000
UPID
US18-2350256
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
-
Quinn Holdings LLC Financial Advisor
-
Realtor Real Estate Agency
-
A1A Dryer Vent Pro (Bike/Boat/Book/etc) Store
-
Clean Inc. Medical Clinic
-
SALT7 Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$70.58M
Comparable Approach
Comparable
$47.46M
Blend (final)
Blend
$68.68M
Owner & transaction history
Granite Worthing LLC · 16 yrs held
Granite Worthing LLC
since 2010
5 recorded transactions
Zoning & alternative use
CBD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Central Business District (CBD) is established to preserve and protect the cultural and historic aspects of downtown Delray Beach and simultaneously provide for the stimulation and enhancement of the vitality and economic growth of this special area. The CBD is comprised of five sub-districts, each with regulations to support their distinctive characteri…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
229.25 ac
Source
Realmo
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%
$76,455,000
6.5%
$70,575,000
7%
$65,535,000
Blend value · Realmo final
$68.68M
Range $61.81M – $75.55M · ±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
$230 / 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
$1,846,224
Tax year 2023
Assessed value
$92,281,899
Assessed 2023
Previous assessed
$86,917,079
+6.2% YoY
Effective rate
2.00%
On assessed value
Assessed land
$12,086,900
Assessed improvement
$80,194,999
Land market value
$12,086,900
Improvement market value
$80,194,999
Total market value
$92,281,899
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2010
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Stories
7
Total area
298,286 SF
Lot
2.36 ac (102,998 SF)
Zoning code
CBD
APN
12-43-46-16-M1-001-0000
UPID
US18-2350256
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CBD · Delray Beach, FLZoning 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
Zoning description
The Central Business District (CBD) is established to preserve and protect the cultural and historic aspects of downtown Delray Beach and simultaneously provide for the stimulation and enhancement of the vitality and economic growth of this special area. The CBD is comprised of five sub-districts, each with regulations to support their distinctive characteristics. The CBD is compatible with land areas designated as Commercial Core on the Land Use Map
Zone name
Central Business District
General category
COMMERCIAL
Zone area
229.25 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2010
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
7
Lot
2.36 ac
Current owner
From public records · entity-resolved
Granite Worthing LLC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
Ownership since
2010
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
Jun 2, 2025
—
Granite Worthing LLC
—
Deed
related
$70,000,000 · Bank Of America NA
Aug 9, 2010
$75,614,662
Granite Worthing LLC
Block 77 Dev Group Lc
Grant Deed
—
Oct 20, 2008
—
Block 77 Dev Group Lc
Grundt,bruce S
Quit Claim Deed
related
—
Jun 1, 2006
—
Block 77 Dev Group Lc
Mandel,daniel S
Quit Claim Deed
related
—
Nov 12, 1998
$440,000
Block 77 Development Group
Roselli,joseph
Grant Deed
$264,000 · Suntrust Bank South Florida
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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