Mixed-Use Corner
For Sale
$5,000,000
117 NE 5th Avenue, Delray Beach, FL 33483
SINGLE_FAMILY - Delray Beach, FL
Property Size7,267 SF
Lot Size0.32 Acres
Price / SF$688.04
Days on Market347
Property Features for 117 NE 5th Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
CBD
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1
Parking
17
Lot features
Corner Lot
Subdivision
4360
Standard status
Active
APN
12434616011070091
Size
7,267 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TOWN OF DELRAY S 51.2 FT OF LT 9, LT 10 & TH PT OF ABND ST LYG S OF & ADJ TO (LESS W 10 FT RD R/W) BLK 107
Tax Annual Amount
48421
Legal Description
TOWN OF DELRAY S 51.2 FT OF LT 9, LT 10 & TH PT OF ABND ST LYG S OF & ADJ TO (LESS W 10 FT RD R/W) BLK 107
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Tile, Concrete, Tile - Ceramic, Wood
Building materials
CBS, Concrete, Stucco
Roof type
Built-Up
Listing Agency:
Douglas Elliman
(561) 278-5570
Listed By:
Cheran Alisa Marek · License #677157
(561) 870-8855
Added: Aug 25, 2025
Changed: Aug 5
Last Checked: Aug 6 at 9:06AM
MLS# R11118356
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 freestanding mixed-use property contains two vacant commercial units totaling 7,267 square feet. Unit A provides 3,366 square feet plus a 1,033-square-foot loft, with offices, a conference room, reception area, and storage. Unit B offers 2,868 square feet of largely open showroom space, along with an office/work room, inventory and stock room, and overhead garage door access. The building includes central heating and cooling, tile, concrete, ceramic tile, and wood flooring, and was built in 1964.
The property occupies a 0.3226-acre double corner lot measuring 14,052 square feet, or 125 by 112.4 feet. It is positioned at the northeast intersection of NE 5th Avenue and NE 1st Street in downtown Delray Beach, one block from Atlantic Avenue. Zoning is CBD, and the site includes a 17-space off-street parking area. Public water and public sewer serve the property.
The property occupies a 0.3226-acre double corner lot measuring 14,052 square feet, or 125 by 112.4 feet. It is positioned at the northeast intersection of NE 5th Avenue and NE 1st Street in downtown Delray Beach, one block from Atlantic Avenue. Zoning is CBD, and the site includes a 17-space off-street parking area. Public water and public sewer serve the property.
Key Highlights
- Two vacant units totaling 7,267 SF
- Unit A includes 3,366 SF plus a 1,033 SF loft
- Unit B offers 2,868 SF of mostly open showroom space
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $331.4k | $45.60 |
| − Vacancy | −$74.6k | −$10.26 |
| EGI | $256.8k | $35.34 |
| − OpEx | −$64.2k | −$8.84 |
| NOI | $192.6k | $26.51 |
7,267 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.75M
$2.41M – $3.21M
NOI $192,612 @ 7.0% cap · market cap 3.85%
Second Best
Mixed Use
$1.79M
$1.57M – $2.09M
NOI $125,356 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$5.12M
$4.48M – $5.97M
NOI $358,248 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,603
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?
Mixed-use property - Two vacant commercial units combine office, showroom, storage, and work areas within a freestanding building.
Where is this mixed-use property located?
The property is located at 117 NE 5th Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Two vacant units totaling 7,267 SF; Unit A includes 3,366 SF plus a 1,033 SF loft; Unit B offers 2,868 SF of mostly open showroom space
