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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
15-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 · 15 yrs held
Granite Worthing LLC
since 2010
5 recorded transactions
Zoning & alternative use
CBD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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, 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.
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 · 15 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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