Vacant lot

428 NE 3rd St

Ocean HeightsBoca Raton20,425 sq ft lot (0.47 acres)Zoned R1D
428 NE 3rd St in 2026428 NE 3rd St in 20172017 · Palm Beach County · Palm Beach Co.2026 · Palm Beach County · Palm Beach Co.

Drag to compare the lot in 2017 with 2026. The pink line is the surveyed parcel boundary.

What it’s worth as land

From recorded sales
$2.17–2.82MMiddle half of nearby land sales, adjusted for lot size (12 sales), applied to this lot’s 20,425 sq ft.
Land price per sq ft, sized to this lot
$0$110$221

Sized to this lot, nearby land sales point to about $133 per sq ft. This parcel last sold for $1.2M in Apr 2021 ($59 per sq ft, the pink dot).

Does it pencil?

Build-and-sell pro forma
Supports a land price up to$1.62Mto build and sell a 5,350 sq ft home here at a 15% margin.
Doesn’t pencilAt $2.72M for the land:Loss $436K · −8.2%Needs $1,285/sq ft to hit 15% · assumed $993
Land $2.72MBuild $2.03MSoft costs $203KCarry $477KSelling $319KLoss $436KSale $5.31M
Boca Raton calibration

Calibrated on 96 Boca Raton deals. With these build costs the calculator's land budget is a median 97% of what the builders actually paid for the lot, and within 25% of it on 39 of the 96 (the old defaults came to 94%).

A quick pro forma, not an appraisal. Every number is editable; the starting points come from city records, and build cost is an assumption to replace with a builder’s bid.

The rules

City GIS and parcel roll
Zoning
R1D Single-Family Residential
Flood zone
AE base flood elevation 6 ft
Lowest floor
7 ft+ BFE + 1 ft minimum under the Florida Building Code; confirm with the city
Waterfront
No
Lot size
20,425 sf 0.47 acres
Ownership
Company often a builder or investor

Setbacks, height and lot coverage depend on the zoning district; see Boca Raton’s zoning code (Chapter 28). Confirm with a surveyor and the city before you buy.

Nearby land sales

Off the water · last 5 years
AddressSoldPriceLot$/sq ftAway
444 NE 3rd St
Bought for a new home · Stealth Construction Usa
Oct 2025$2.13M10,206 sf$20833 m
401 NE 2nd St
Bought for a new home · Boca Development & Construction
Jun 2022$1.05M10,041 sf$10551 m
423 NE 3rd St
Vacant lot sale
Oct 2026$2.1M10,376 sf$20264 m
424 NE 4th St
Bought for a new home · CJM Communities
Jun 2023$1.83M20,809 sf$88106 m
365 NE 3rd St
Bought for a new home · YM Construction
Mar 2024$1.7M8,381 sf$202153 m
344 NE 2nd St
Bought for a new home · YM Construction
Nov 2021$1.07M8,276 sf$130178 m
334 NE 3rd St
Bought for a new home · M I Bobcat
May 2023$1.65M10,359 sf$159182 m
345 E Boca Raton Rd
Bought for a new home · Amco Construction and Remodeling
May 2023$1.5M8,281 sf$181220 m