Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    117 NE 5Th Ave Delray Beach, FL 33483

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,000,000

    Two-unit building in downtown Delray Beach with redevelopment potential.

    Lot size:
    0.32 Acres

    Property Features for 117 NE 5Th Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.32 Acres

    Building Details

    Year built
    1964

    We can help!

    Listing Contact
    Cheran Marek
    Cheran Marek
    Source: Elliman

    Listing Agent: Cheran Marek

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Delray Beach Multi-Use Commercial Property

    Located one block from Atlantic Avenue in downtown Delray Beach, this multi-use commercial property features a free-standing, two-unit building situated on a double lot at the northeast intersection of NE 5th Avenue and NE 1st Street. The property is zoned CBD and offers redevelopment potential or can be maintained in its current state. It includes a 17-space off-street parking area. Unit A, currently tenant-occupied, provides 3366 square feet of space with an additional 1033 square foot loft area, consisting of offices, a conference room, a reception area, and storage. Unit B, which is now vacant, offers 2868 square feet of floor space, configured as a large, mostly open showroom, with an office/work room and an inventory/stock room in the back area that includes overhead garage door access. The lot size is 0.3226 acres, equivalent to 14052 square feet, with dimensions of 125 feet by 112.4 feet.
    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
    -80.067802
    Latitude
    26.4636621

    Nearby Similar for Sale

    • New
      Contact for pricing
      3,444 SF

      Renovated Daycare Facility For Sale

      Renovated daycare facility licensed for 68 children in Delray Beach.
      111 SW 10Th Ave, Delray Beach, FL 33444
      View Details
    • $998,000
      2,534 SF

      Delray Beach Quad Plex Estate

      Gorgeous quad plex in prime Delray Beach location on oversized lot.
      5285 Sunrise Blvd, Delray Beach, FL 33484
      View Details
    • $1,199,990
      2,688 SF

      Delray Beach Multifamily Investment Opportunity

      Multifamily property with development potential in Delray Beach, Florida.
      124 SW 8Th Ave, Delray Beach, FL 33444
      View Details
    • New
      $3,000,000
      3,296 SF

      Delray Beach Mixed-Use Building

      Mixed-use building in the heart of Delray Beach.
      23 S Swinton Ave, Delray Beach, FL 33444
      View Details
    • $175,000

      Pet Grooming Business Opportunity

      Established pet grooming business for sale in Delray Beach, FL.
      Delray Beach, FL 33446
      View Details
    • $2,000,000

      Coastal Estate in Delray Beach

      Designed coastal estate in the heart of Downtown Delray Beach.
      514 NE 3Rd Ave, Delray Beach, FL 33444
      View Details
    • $6,249,999
      6,334 SF

      Delray Beach Live/Work Building

      Contemporary Art Deco building with live/work flexibility near beach.
      226 Palm Ct, Delray Beach, FL 33444
      View Details
    • $1,425,000
      705 SF

      Delray Beach Commercial Property For Sale

      Freestanding commercial property in downtown Delray Beach, Florida.
      75 SE 4Th Ave, Delray Beach, FL 33483
      View Details
    • $3,955,000
      2,902 SF

      Restaurant Anchored Mixed-Use Property

      Mixed-use property with restaurant and office space in Delray Beach.
      504 E Atlantic Ave, Delray Beach, FL 33483
      View Details
    • $1,999,000
      0.33 Acres

      Delray Beach Single Family Home

      Single-family home in Delray Beach, Florida, with residential income potential.
      905 NE 6Th Ave, Delray Beach, FL 33483
      View Details
    • $1,100,000

      Delray Beach Development Opportunity

      Four-plex with approved plans for a luxurious single-family home.
      630 B Allen Ave, Delray Beach, FL 33483
      View Details
    • $1,100,000

      Development Opportunity in Delray Beach

      Four-plex with approved plans for a luxurious single-family home.
      630 A Allen Ave, Delray Beach, FL 33483
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-unit building in downtown Delray Beach with redevelopment potential.
    Where is this mixed-use property located?
    The property is located at 117 NE 5Th Ave 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, just one block from Atlantic Avenue.; - Multi-use commercial property with CBD zoning.; - Double lot offering redevelopment potential.
    (561) 870-8855
    Request Owner's contact information
    117 NE 5Th Ave Delray Beach, FL 33483
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    117 NE 5Th Ave
    Delray Beach, FL 33483
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    117 NE 5Th Ave Delray Beach, FL 33483
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Cheran Marek
    Cheran Marek
    Real Estate License ID: SL677157
    (561) 870-8855 (561) 278-5570
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!