Updated Four-Unit
New
For Sale
$1,695,000
115 NW 8th Avenue, Delray Beach, FL 33444
Residential Income, Delray Beach, FL
Property Size2,944 SF
Lot Size4,025.00 Acres
Price / SF$575.75
Days on Market3
Property Features for 115 NW 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-1-A
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Patio and Porch features
Patio
Pets allowed
No, Yes
Exterior features
Courtyard
Subdivision
DELRAY TOWN
Elementary school
Plumosa School of the Arts K-8
High school
Atlantic
Standard status
Active
APN
12434616010030170
Size
2,944 SF
Lot size
4,025.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF DELRAY N 130 FT OF S 265 FT OF W 135 FT OF BLK 3
Tax Annual Amount
20027
Legal Description
TOWN OF DELRAY N 130 FT OF S 265 FT OF W 135 FT OF BLK 3
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Amenities
fully fenced
gazebos
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
CBS
Roof type
Composition
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
Jeffrey Creegan · License #3432383
(561) 939-9819
Added: Sep 23
Last Checked: Sep 25 at 6:06AM
MLS# B26079746
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 four-unit residential property comprises two duplex buildings with a combined 2,944 square feet of space. The units have been updated and are offered fully furnished, with open-plan interiors, vinyl flooring, and separate water and electric meters. Construction is CBS, and cooling includes central air and window or wall units. The property was built in 1960.
Located at 115 NW 8th Avenue in Delray Beach, the site includes a private fenced setting with landscaping, a courtyard, patio areas, and custom backyard gazebos. Public water and public sewer serve the property, with water available as a listed utility. The configuration provides four residential units across two duplex structures.
Located at 115 NW 8th Avenue in Delray Beach, the site includes a private fenced setting with landscaping, a courtyard, patio areas, and custom backyard gazebos. Public water and public sewer serve the property, with water available as a listed utility. The configuration provides four residential units across two duplex structures.
Key Highlights
- Four residential units arranged in two duplex buildings
- 2,944 square feet of combined property size
- Fully furnished units with updated interiors
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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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 - Fully furnished multi-unit property with separate water and electric meters, private fencing, landscaped grounds, and outdoor gathering areas.
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 residential units arranged in two duplex buildings; 2,944 square feet of combined property size; Fully furnished units with updated interiors
