341 2Nd AveDelray Beach, FL 33483

Property Details for 341 2Nd Ave

Lot size

0.31 AC

Zone code

CBD

Property type

Mobile home & RV parks

APN

12-43-46-16-01-081-0030

APU

12434616010810030

Description

This exceptional mixed-use property at 341 SE 2nd Avenue in Delray Beach, Florida, presents a unique investment opportunity. Boasting 4,960 square feet on a double lot totaling 13,260 square feet, this 7-unit building offers significant upside potential. Constructed in 1957, the property benefits from a highly desirable CBD-RC zoning designation in the thriving SofA District, allowing for both residential and commercial uses. The zoning permits the construction of a mixed-use building up to five stories high, significantly increasing the potential density. Current zoning allows for 30 units per acre, with the possibility of 70 units per acre if 20% of the units are designated as workforce housing. The property's versatility extends to light industrial, warehouse, and multi-family uses. Currently, the building houses long-term, month-to-month tenants, providing a stable income stream for the new owner. Its prime location, just blocks from Atlantic Avenue and the beach, ensures high visibility and strong rental demand. This is a rare opportunity to acquire a substantial property in a rapidly developing area with significant redevelopment potential. The asking price is $3,150,000. Serious inquiries only. Please do not disturb tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $5,169,970

  6.5%

  $4,772,280

  7%

  $4,431,402

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,629,482

  Geo Method

  $5,629,482

• Alternative Use

  Use

  Valuation

  Residential

  $4,772,280

  Hospitality

  $4,371,382

  Educational

  $3,636,939

  Medical

  $3,762,019

  Retail

  $5,657,461

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4687

Longitude

-80.071

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].