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    117 NE 5th Avenue Delray Beach, FL 33483

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    Claim this Listing
    For Sale
    $5,000,000

    SINGLE_FAMILY - Delray Beach, FL

    Type:Retail
    Property size:
    7,267 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $688/SF
    Added:
    Aug 25, 2025
    Days on Market:
    254
    Last Refresh:
    May 5 at 10:06 pm

    Property Features for 117 NE 5th Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    CBD
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
    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

    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
    Wood, Concrete, Tile, Tile - Ceramic
    Building materials
    CBS, Concrete, Stucco

    We can help!

    Listing Contact
    Cheran Alisa Marek
    Cheran Alisa Marek

    Listing agent Cheran Alisa Marek License #677157

    Listing office Douglas Elliman 900 E Atlantic Avenue Suite No. 1, Palm Beach, FL

    Listing date Aug 25, 2025

    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.

    Overview

    Delray Beach Multi-Use Commercial Property

    Located one block from Atlantic Avenue in downtown Delray Beach, this multi-use commercial property features a two-unit, free-standing corner building. The property, situated at the northeast intersection of NE 5th Ave and NE 1st St, includes a 17-space off-street parking area. The lot measures 0.3226 acres, equivalent to 14,052 square feet with dimensions of 125 feet by 112.4 feet. Unit A, currently tenant-occupied, offers 3,366 square feet of space plus a 1,033-square-foot loft area, comprising offices, a conference room, a reception area, and storage. Unit B, now vacant, provides 2,868 square feet of floor space, featuring a large, mostly open showroom, an office/work room, and an inventory/stock room in the back area with overhead garage door access. The property is zoned CBD and offers redevelopment potential or can be kept as is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Robes Law Group, ... Law Firm GreenC, LLC Construction Company

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.067819
    Latitude
    26.463701

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    FAQs

    What type of property is this?
    Retail property - Two-unit commercial building with redevelopment potential in downtown Delray Beach.
    Where is this retail 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: Prime Downtown Delray Beach location, one block from Atlantic Avenue; Multi‑use commercial property zoned CBD; Double lot with redevelopment potential or keep as is
    (561) 870-8855
    We can help!
    Listing Contact
    Cheran Alisa Marek
    Cheran Alisa Marek
    Real Estate License ID: 677157
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    117 NE 5th Avenue, Delray Beach, FL 33483
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