Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    375 2Nd Ave Delray Beach, FL 33483

    • Showrooms
    • 3,304 SF
    • 0.15 lot acres
    For Sale
    View listing
    $6,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4338524
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ramsey shop / Auto Repair Shop
    • SEVENS TIRE SHOP LLC / Tire Shop

    Property Details for 375 2Nd Ave

    Year built
    1949
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Property size
    3,304 SF
    Zone code
    CBD
    Property type
    Showrooms
    APN
    12-43-46-16-04-088-0100
    APU
    12434616040880100

    Description

    This exceptional 0 sq ft lot at 375 SE 2nd Avenue in Delray Beach, Florida, presents a unique investment opportunity. Located in the heart of the Central Business District (CBD), this property boasts RC zoning, permitting both residential and commercial development. The current zoning allows for a density of 30 units per acre, and the site is approved for construction up to four stories high. Currently designated as Special Purpose, this 1-unit property, built in 1949, offers significant redevelopment potential. Demolition permits have already been submitted, streamlining the process for future construction. This property is particularly attractive due to its location and zoning flexibility, making it ideal for a mixed-use development or multi-family project. Consider this property as a standalone investment or as part of a larger portfolio, as it can be combined with adjacent properties at 369 SE 2nd, 383 SE 2nd, and 391 SE 2nd Avenues for a larger-scale development project. The asking price for this prime Delray Beach location is $6,400,000. This represents a rare chance to acquire a strategically located parcel in a thriving Florida market. The property's central location offers easy access to local amenities, transportation, and the vibrant Delray Beach community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $422,000
      Market price range: $422k - $1.57M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0707
    Latitude
    26.4548
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,858
    $396,806
    $189,220
    $586,026
    -
    $396,806
    $189,220
    $586,026

    Comparable in this City

    • Value Estimation
      $345,000
      4,550 SF

      820 5th Ave

      SHOW ROOM, WAREHOUSE • 4,550 SF
      820 5th Ave, Delray Beach, FL 33483-5107
      View Details
    • Value Estimation
      $305,000
      1,960 SF

      391 2nd Ave

      SHOW ROOM, WAREHOUSE • 1,960 SF
      391 2nd Ave, Delray Beach, FL 33483-4401
      View Details
    • Value Estimation
      $1,025,000
      1,775 SF

      333 2nd Ave

      SHOW ROOM, WAREHOUSE • 1,775 SF
      333 2nd Ave, Delray Beach, FL 33483-4401
      View Details
    • Value Estimation
      $340,000
      2,000 SF

      369 2nd Ave

      SHOW ROOM, WAREHOUSE • 2,000 SF
      369 2nd Ave, Delray Beach, FL 33483-4401
      View Details
    • Value Estimation
      $195,000
      1,280 SF

      213 2nd Ave

      SHOW ROOM, WAREHOUSE • 1,280 SF
      213 2nd Ave, Delray Beach, FL 33483-4546
      View Details
    • Value Estimation
      $1,495,000
      4,309 SF

      217 4th Ave

      SHOW ROOM, WAREHOUSE • 4,309 SF
      217 4th Ave, Delray Beach, FL 33483-4532
      View Details

    Similar Nearby for Sale

    • $535,000

      Retail Space in Delray Beach

      Retail space with heavy traffic and covered parking.
      103 SE 4Th Ave, Delray Beach, FL 33483
      View Details
    • $1,425,000
      705 SF

      Delray Beach Commercial Property For Sale

      Freestanding commercial property in downtown Delray Beach, Florida.
      75 SE 4Th Ave, Delray Beach, FL 33483
      View Details
    • $2,100,000
      1,876 SF

      Retail Property in Delray Beach

      Retail property available for sale in Delray Beach, Florida.
      1710 W Atlantic Ave, Delray Beach, FL 33483
      View Details
    • $3,955,000
      2,902 SF

      Restaurant Anchored Mixed-Use Property

      Mixed-use property with restaurant and office space in Delray Beach.
      504 E Atlantic Ave, Delray Beach, FL 33483
      View Details
    • $360,000
      2,200 SF

      Upscale Day Spa Business for Sale

      Profitable Delray Beach Spa, Turnkey Operation
      555 5Th Ave, Delray Beach, FL 33483
      View Details
    • $8,000,000
      8,656 SF

      Mixed-Use Development Opportunity, Delray Beach

      1.71-acre mixed-use site with approved plans in Delray Beach.
      2410 N Federal Hwy, Delray Beach, FL 33483
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      900 SF

      Retail Space in Delray Beach

      900 SF retail space available for rent in Delray Beach.
      851 SE 6Th Ave, Delray Beach, FL 33483
      View Details
    • Contact for pricing
      2,130 SF

      Delray Beach Medspa Endcap Space

      Built-out medspa space in East Delray Beach for rent.
      25-53 SE 4Th Ave, Delray Beach, FL 33483
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Delray Beach

      Retail property in a high-traffic Delray Beach location.
      6642-6580 Atlantic Ave, Delray Beach, FL 33483
      View Details
    • Contact for pricing
      5,660 SF

      Retail Space on Federal Highway

      Retail space available on North Federal Highway in Delray Beach.
      1310-1350 N Federal Hwy, Delray Beach, FL 33483
      View Details
    • $6,500 /Mo

      Renovated Storefront in Prime Location

      Renovated storefront with parking in a prime location.
      280 NE 6Th Ave, Delray Beach, FL 33483
      View Details
    • $2,499,999
      3,000 SF

      Delray Beach Retail Investment Property

      Income-producing ground floor retail property with a long-term tenant.
      246 NE 6Th Ave, Delray Beach, FL 33483
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    375 2Nd Ave
    Delray Beach, FL 33483
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.