Delray Beach Office
For Sale
$2,290,000
112 10th Street, Delray Beach, FL 33483
Downtown Delray Beach office building for sale or lease.
Property Size5,040 SF
Price / SF$454.37
Days on Market267
Property Features for 112 10th Street
General Information
Standard status
Active
Size
5,040 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$22,618
Amenities
3
Building Details
Year Built
1935
Listing Agency:
Regency Realty Services
(561) 706-0095
Listed By:
Matan Morag, PA · License #SL3124553
(561) 706-0095
Source:
Xome
Added: Nov 30, 2025
Changed: Aug 23
Last Checked: Aug 23 at 8:02AM
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 Regency Realty Services
Investment Insights
Based on property information with market context.
This modern office building is located in Downtown Delray Beach, offering high traffic and excellent visibility. The property features individual private office suites and is suitable for various professional uses, including real estate companies, mortgage companies, law firms, architectural firms, engineering firms, title companies, and medical practices. The building includes 11 or more office suites, reception areas, and multiple conference rooms, with the potential to add more suites or cubicles. Each floor has a kitchen, and the main kitchen is equipped with washer and dryer hookups. There are four bathrooms, including one full bathroom with a shower. Additional features include a large outdoor patio and a spacious fenced-in backyard. The building is equipped with a fire alarm, sprinkler system, and security system. Recent upgrades include a new aluminum roof, new impact windows and doors, complete new landscaping, and a new modern exterior stucco finish. The building has a bike score of 52, indicating it is bikeable, and a walk score of 65, indicating it is somewhat walkable.
Key Highlights
- Prime Downtown Delray Beach location with high traffic and excellent visibility.
- Modernized with new aluminum roof, impact windows/doors, landscaping, and exterior stucco.
- Versatile space with 11+ office suites, reception areas, and multiple conference rooms.
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
—
—
no second resolved use
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown Delray Beach office building for sale or lease.
Where is this office building located?
The property is located at 112 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: Prime Downtown Delray Beach location with high traffic and excellent visibility.; Modernized with new aluminum roof, impact windows/doors, landscaping, and exterior stucco.; Versatile space with 11+ office suites, reception areas, and multiple conference rooms.
