117 NE 5th Delray Beach, FL 33483
Freestanding downtown corner building with off-street parking and two flexible units, including a mostly open showroom space.
Property Features for 117 NE 5th
General Information
- Standard status
- Active
- Size
- 7,267 SF
- Lot size
- 0.32 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1964
Listing office DOUGLAS ELLIMAN
Listing date Sep 5, 2025
Source Corcoran
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Investment Insights
Based on property information with market context.
The building is located in downtown Delray Beach at the northeast intersection of NE 5th Ave and NE 1st St, about one block off Atlantic Avenue. The property is zoned CBD.
For tenants and buyers, the layout supports multi-use occupancy with separate unit configurations, including showroom-style open space and overhead door capability for back-area loading and storage. The on-site off-street parking area also helps support customer and employee access for office, showroom, and related commercial uses within the CBD zoning framework.
Key Highlights
- Freestanding corner 2‑unit commercial building in downtown Delray Beach at NE 5th Ave & NE 1st St, zoned CBD
- Year built 1964; double lot size of 0.3226 acres (14,052 SF)
- Off‑street parking for 17 spaces on the property
Local 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 |
