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Property profile & analytics
FOR SALE
Showrooms
369 SE 2Nd Ave Delray Beach, FL 33483
Entity Owned
18-yr Hold
Free & Clear
Property ID
US18-5239530
For Sale
1 / 14
$3,000,000
369 SE 2Nd Ave, Delray Beach, FL 33483
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1958
Construction
CONCRETE
Total area
2,000 SF
Lot
0.3 ac (13,260 SF)
Zoning code
CBD
APN
12-43-46-16-04-088-0080
UPID
US18-5239530
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 Lift Trucks & Hydraulic Hose Repair Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Nel Management LLC · 18 yrs held
Nel Management LLC
since 2007
2 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$13,981
Tax year 2023
Assessed value
$744,457
Assessed 2023
Previous assessed
$650,481
+14.4% YoY
Effective rate
1.88%
On assessed value
Assessed land
$584,766
Assessed improvement
$159,691
Land market value
$584,766
Improvement market value
$159,691
Total market value
$744,457
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Sale
Year built
1958
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Total area
2,000 SF
Lot
0.3 ac (13,260 SF)
Zoning code
CBD
APN
12-43-46-16-04-088-0080
UPID
US18-5239530
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
1958
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Nel Management LLC
Entity
Free & Clear · 18 yrs held
Mailing address
3809 ARELIA DR S, DELRAY BEACH, FL 33445-5734
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2007
—
Nel Management LLC
Lawrence,norman E JR
Warranty Deed
—
—
—
Norman E Lawrence
—
Deed Of Trust
related
$42,800 · Bank Of America
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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