Delray Beach Multifamily Investment
For Sale
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1100 SW 4th Ave, Delray Beach, FL 33444
Garden-style multifamily asset with 60 units in Delray Beach.
Property Size51,300 SF
Price / SF$355.75
Days on Market179
Property Features for 1100 SW 4th Ave
General Information
Standard status
Active
Size
51,300 SF
Total Parking Spaces
120
Property subtype
Multifamily
Zoning
RM-MULTIPLE FAMILY (MEDIUM)
Occupancy
100%
Building Details
Year Built
1980
Buildings
15
Units
60
Listing Agency:
Franklin Street Tampa
Listed By:
Dan Dratch · License #FL SL3341163
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Franklin Street Tampa
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a garden-style multifamily asset located in South Florida. Constructed in 1980, the property consists of a 51,300 square foot building containing 60 residential units. The building reflects a low-rise multifamily design. The property's unit count and building size may allow for professional management and value-oriented investment strategies. With 60 units under one roof, there may be economies of scale and streamlined maintenance. The RM – Multiple Family (Medium) zoning provides flexibility for continued multifamily use and supports long-term hold strategies within an established zoning framework. The property may offer a foundation for both stable income and future upside through targeted capital improvements, operational efficiencies, and potential rent growth. Its vintage construction may allow for a value-add approach while maintaining durable fundamentals. The asset represents an opportunity to acquire scale, zoning certainty, and long-term multifamily viability within a single property.
Key Highlights
- Immediate scale with 60 residential units in a single building.
- Established rental market in Delray, South Florida.
- RM – Multiple Family (Medium) zoning provides flexibility and reduces entitlement risk.
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
$788,959
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
4.32%
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%
$15,779,180
$15.8M
Cap Rate 7%
$11,270,843
$11.3M
Cap Rate 9%
$8,766,211
$8.8M
Market Conditions
NOI Build-Up for 51,300 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
$1.50M $29.28/SF
− Vacancy
−$67.6K −$1.32/SF
EGI
$1.43M $27.96/SF
− OpEx
−$645.5K −$12.58/SF
NOI
$789.0K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$15,779,180
Cap Rate 7%
$11,270,843
Cap Rate 9%
$8,766,211
Alternative Uses
Best Use
Apartment 5plus
$11.27M
$9.86M – $13.15M
NOI $788,959 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$36.13M
$31.61M – $42.15M
NOI $2,528,983 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style multifamily asset with 60 units in Delray Beach.
Where is this apartment building located?
The property is located at 1100 SW 4th Ave Delray Beach, FL.
What is the asking price?
The asking price for this property is $18,250,000.
What are key features of this property?
This property features: Immediate scale with **60 residential units in a single building.**; Established rental market in Delray, South Florida.; RM – Multiple Family (Medium) zoning provides flexibility and reduces entitlement risk.
