Recently Painted Retail
For Sale
$990,000
12 SE 1st #102, Delray Beach, FL 33444
Positioned near Atlantic Avenue and a public parking structure.
Property Size1,210 SF
Price / SF$818.18
Days on Market115
Property Features for 12 SE 1st #102
General Information
Standard status
Active
Size
1,210 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,371
Amenities
Central air
Central Air Cooling
Central Heating
Wall Furnace Heating
Wall/Window Units Cooling
Building Details
Year Built
2007
Listing Agency:
VAN ARNEM PROPERTIES INC.
(586) 873-5573
Listed By:
TAMMY L SPRINGER · License #R11168664
Source:
Corcoran
Added: May 9
Changed: Aug 30
Last Checked: Aug 30 at 1:49PM
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 VAN ARNEM PROPERTIES INC.
Investment Insights
Based on property information with market context.
The approximately 1,210-square-foot retail space is located at 12 SE 1st Avenue in Delray Beach, Florida. Built in 2007 and recently painted, the property offers a storefront setting within the city’s downtown commercial area.
The space is situated near Atlantic Avenue and Delray Beach’s shopping and entertainment district. Residential development lies to the south and east, while a 200-space public parking structure is immediately south of the property. The address places the suite within an established downtown setting with nearby pedestrian activity.
The space is situated near Atlantic Avenue and Delray Beach’s shopping and entertainment district. Residential development lies to the south and east, while a 200-space public parking structure is immediately south of the property. The address places the suite within an established downtown setting with nearby pedestrian activity.
Key Highlights
- Approximately 1,210 square feet of retail space
- Recently painted interior
- Built in 2007
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
$32,071
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
3.24%
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%
$641,420
$641.4K
Cap Rate 7%
$458,157
$458.2K
Cap Rate 9%
$356,344
$356.3K
Market Conditions
NOI Build-Up for 1,210 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
$55.2K $45.60/SF
− Vacancy
−$12.4K −$10.26/SF
EGI
$42.8K $35.34/SF
− OpEx
−$10.7K −$8.84/SF
NOI
$32.1K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$641,420
Cap Rate 7%
$458,157
Cap Rate 9%
$356,344
Alternative Uses
Best Use
Office B
$458.2K
$400.9K – $534.5K
NOI $32,071 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$292.3K
$255.8K – $341.0K
NOI $20,460 @ 7.0% cap · market cap 2.07%
Theoretical Best
Office A
$852.1K
$745.6K – $994.2K
NOI $59,650 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,299
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Positioned near Atlantic Avenue and a public parking structure.
Where is this retail space located?
The property is located at 12 SE 1st #102 Delray Beach, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Approximately 1,210 square feet of retail space; Recently painted interior; Built in 2007
