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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Office buildings
400 2nd Ave Boca Raton, FL 33432-5991
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3732902
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1986
Construction
CONCRETE
Total area
5,312 SF
Lot
0.4 ac (17,568 SF)
Zoning code
C-1
APN
06-43-47-30-12-002-0022
UPID
US18-3732902
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
-
Dev Industrial Corporation Industrial Manufacturer Production Facility
-
Richard Kornblath, PHD Physician Medical Clinic
-
Eileen Monson, PHD Physician Medical Clinic
-
Friends of the Boca Raton Public Library Bookstore (Bike/Boat/Book/etc) Store
-
Professional Tax Return Services, LLC Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.34M
Owner & transaction history
DEV NIVAS LLC
DEV NIVAS LLC
Zoning & alternative use
C-1 · Boca Raton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.1M
+10.0%
Neighborhood: shopping center
$2.1M
+9.0%
Medical building
$2.1M
+8.7%
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 Boca Raton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boca Raton 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,925,000
Current use
RETAIL STORES
$2,120,000
Change: +10% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,100,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$2,095,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±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
$251 / 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
$27,090
Tax year 2023
Assessed value
$1,502,121
Assessed 2023
Previous assessed
$1,423,210
+5.5% YoY
Effective rate
1.80%
On assessed value
Assessed land
$553,361
Assessed improvement
$948,760
Land market value
$553,361
Improvement market value
$948,760
Total market value
$1,502,121
Applied tax rate
6,154.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
5,312 SF
Lot
0.4 ac (17,568 SF)
Zoning code
C-1
APN
06-43-47-30-12-002-0022
UPID
US18-3732902
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
C-1 · Boca Raton, FL
Zoning C-1 · permitted uses
C-1 · Boca Raton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boca Raton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.9M
RETAIL STORES
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1986
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
DEV NIVAS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
363 E CONFERENCE DR, BOCA RATON, FL 33486-3148
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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