Furnished
For Sale
$1,695,000
115 NW 8th Avenue, Delray Beach, FL 33444
Four residences feature open layouts and individual water and electric meters.
Property Size2,944 SF
Lot Size0.40 Acres
Price / SF$575.75
Days on Market10
Property Features for 115 NW 8th Avenue
General Information
Standard status
Active
Size
2,944 SF
Lot size
0.40 Acres
Property subtype
Quadruplex
Additional Details
Furnished
Yes
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$20,027
Amenities
custom backyard gazebos
Building Details
Building Size
2,944 SF
Year Built
1960
Buildings
2
Listing Agency:
Compass Florida LLC
Listed By:
Jeffrey Creegan · License #3432383
(561) 939-9819
Source:
Pamandtoni
Added: Sep 24
Changed: Oct 2
Last Checked: Oct 1 at 5:31PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This four-unit residential property consists of two duplexes with a combined 2,944 square feet. The units have open layouts, and each is furnished. Separate water and electric meters serve the residences.
The buildings sit on a 130-by-135-foot parcel totaling 17,533 square feet in Delray Beach. The grounds are enclosed and include landscaping and backyard gazebos.
The buildings sit on a 130-by-135-foot parcel totaling 17,533 square feet in Delray Beach. The grounds are enclosed and include landscaping and backyard gazebos.
Key Highlights
- Four units arranged as two duplexes
- 2,944 square feet of building area
- 17,533‑square‑foot lot measuring 130' x 135'
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
$49,076
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
2.90%
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%
$981,520
$981.5K
Cap Rate 7%
$701,086
$701.1K
Cap Rate 9%
$545,289
$545.3K
Market Conditions
NOI Build-Up for 2,944 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
$74.2K $25.20/SF
− Vacancy
−$4.1K −$1.39/SF
EGI
$70.1K $23.81/SF
− OpEx
−$21.0K −$7.14/SF
NOI
$49.1K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$981,520
Cap Rate 7%
$701,086
Cap Rate 9%
$545,289
Alternative Uses
Best Use
Multifamily LT 5
$701.1K
$613.5K – $817.9K
NOI $49,076 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$646.8K
$566.0K – $754.6K
NOI $45,277 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,133 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,334
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature open layouts and individual water and electric meters.
Where is this quadplex located?
The property is located at 115 NW 8th Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Four units arranged as two duplexes; 2,944 square feet of building area; 17,533‑square‑foot lot measuring 130' x 135'
