Downtown Office Building with Private
For Sale
$2,290,000
112 SE 10th Street, Delray Beach, FL 33483
Commercial Sale, Delray Beach, FL
Property Size5,040 SF
Lot Size0.34 Acres
Price / SF$454.37
Days on Market289
Property Features for 112 SE 10th Street
General Information
Property type
Residential
Property subtype
Office
Zoning
SAD(city)
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 3
Security features
Security Lighting
Subdivision
4220
Standard status
Active
APN
12434621130050090
Size
5,040 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SILVER TERRACE DELRAY LTS 9 & 10 BLK 5 & WLY 10 FT OF 50 FT ABND PT OF MIAMI BLVD LYG E OF & ADJ TO IN OR9812P430
Tax Annual Amount
22618
Legal Description
SILVER TERRACE DELRAY LTS 9 & 10 BLK 5 & WLY 10 FT OF 50 FT ABND PT OF MIAMI BLVD LYG E OF & ADJ TO IN OR9812P430
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
reception areas
conference rooms
kitchen
washer/dryer hookups
outdoor patio
fenced yard
security system
fire alarm
Building Details
Year built
1935
Floors in Building
2
Number of units
1
Flooring type
Wood, Carpet, Tile
Roof type
Aluminum
Listing Agency:
Regency Realty Services
(561) 394-4600
Listed By:
Matan Morag PA · License #3124553
(561) 706-0095
Added: Dec 3, 2025
Changed: Sep 13
Last Checked: Sep 18 at 12:06PM
MLS# R11144910
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,040-square-foot office building, constructed in 1935, offers a multi-suite layout with more than 11 private offices, reception areas, and conference rooms. The interior includes tile, carpet, and wood flooring, along with four bathrooms, including one full bathroom with a shower. Kitchen areas are available on each floor, and washer and dryer hookups are provided. Central heating and air conditioning serve the building, which also includes fire alarm, fire sprinkler, and security systems.
The property occupies 0.34 acres at 112 SE 10th Street in Delray Beach, within Palm Beach County. A large outdoor patio and fenced yard extend the usable area, while additional parking is located behind the rear fence. Public water and public sewer serve the property, with cable available. The roof is aluminum, and the zoning is identified as SAD(city).
The property occupies 0.34 acres at 112 SE 10th Street in Delray Beach, within Palm Beach County. A large outdoor patio and fenced yard extend the usable area, while additional parking is located behind the rear fence. Public water and public sewer serve the property, with cable available. The roof is aluminum, and the zoning is identified as SAD(city).
Key Highlights
- 5,040‑square‑foot office building on 0.34 acres
- More than 11 private office suites with reception and conference areas
- Four bathrooms, including one full bathroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$133,585
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,671,700
$2.7M
Cap Rate 7%
$1,908,357
$1.9M
Cap Rate 9%
$1,484,278
$1.5M
Market Conditions
NOI Build-Up for 5,040 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$229.8K $45.60/SF
− Vacancy
−$51.7K −$10.26/SF
EGI
$178.1K $35.34/SF
− OpEx
−$44.5K −$8.84/SF
NOI
$133.6K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,671,700
Cap Rate 7%
$1,908,357
Cap Rate 9%
$1,484,278
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.23M
NOI $133,585 @ 7.0% cap · market cap 5.83%
Second Best
Healthcare Medical
$948.7K
$830.1K – $1.11M
NOI $66,407 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,462 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 33483, FL
13,103
Population
9,493
Households
1.4
Avg Household Size
59
Median Age
57%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
3,448
Density / Sq Mi
$117,854
Median Household Income
$60,502
Median Earnings
$2,306
Median Rent
$755,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Multi-suite office property with conference areas, reception spaces, outdoor patio, fenced yard, and rear parking.
Where is this office building located?
The property is located at 112 SE 10th Street Delray Beach, FL.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: 5,040‑square‑foot office building on 0.34 acres; More than 11 private office suites with reception and conference areas; Four bathrooms, including one full bathroom with shower
