This exceptional retail property, located at 367 NE 3rd Avenue in the vibrant Arts District of Delray Beach, Florida, presents a unique investment opportunity. Built in 1966, this property boasts a prime location within walking distance of numerous art galleries, boutiques, shops, and restaurants. The highly sought-after Ray Hotel is also just steps away, ensuring high foot traffic and visibility. Its strategic position near Atlantic Avenue, renowned for its bustling nightlife, diverse dining options, and extensive shopping, guarantees a constant flow of both local and tourist clientele. Delray Beach's continued growth as a desirable destination for businesses and entrepreneurs makes this an ideal investment in a rapidly expanding market. The property's location offers unparalleled access to a thriving community, attracting a diverse range of potential customers. While the lot size is not specified, the high visibility and foot traffic in this dynamic area more than compensate. Priced at $3,500,000, this property represents a significant chance to establish or expand a business in a highly desirable and lucrative location. The property's proximity to key attractions and its position within a high-growth area make it an exceptional investment prospect with significant potential for future returns. This is a rare opportunity to secure a foothold in one of South Florida's most dynamic and sought-after commercial districts.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$554,642
6.5%
$511,977
7%
$475,407
Comparable approach
Method
Valuation
Relative Method
$445,819
Geo Method
$445,819
Alternative Use
Use
Valuation
Industrial / Distribution
$989,053
Mixed-Use / Specialty
$513,931
Hospitality / Lodging
$381,975
Office
$514,814
Institutional / Educational
$535,632
Residential Income
$626,689
Multifamily
$730,667
Automotive / Energy
$459,113
Parking / Income-Based Land
$154,701
Restaurant / Food Service
$275,365
Healthcare / Senior Housing
$523,151
Location Insight
City
Delray Beach
County
Palm Beach
State
Florida
Latitude
26.4683
Longitude
-80.0701
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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3Rd Ave Delray Beach, FL 33444
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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