Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Delray Beach Freestanding Commercial Property Title is generated by Realmo AI

    124 NE 5th Ave, Delray Beach, FL 33444

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,990,000

    Free-standing commercial property in Delray Beach's CBD, built in 2018.

    Type:Commercial
    Property size:
    6,364 SF
    Lot size:
    0.31 Acres
    Price / SF:
    $784/SF
    Added:
    Mar 24, 2026
    Days on Market:
    54
    Last Refresh:
    Mar 21 at 7:53 am

    Property Features for 124 NE 5th Ave

    General Information

    Standard status
    Active
    Size
    6,364 SF
    Lot size
    0.31 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Jeffrey A. Cloninger

    Listing agent Jeffrey A. Cloninger License #619094

    Listing office

    Listing date Mar 24, 2026

    Source Elliman

    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 Jeffrey A. Cloninger

    HighLights

    • Prime CBD location in Delray Beach, one block from Atlantic Avenue, offering high visibility and walkability.
    • Free‑standing commercial building with CBD zoning allowing for diverse commercial uses.
    • Modern construction (built in 2018) with Art Deco‑inspired design.
    • 6,364 SF total space, including 2,336 SF of unfinished second‑floor space for expansion or income potential.
    • Features a full commercial kitchen and café\/soda fountain layout.
    • Includes 15 parking spaces and a backup generator.

    Overview

    The property at 124 NE 5th Ave is a free-standing commercial building located in the CBD of Delray Beach. Constructed in 2018, the Art Deco-inspired building has a total area of 6,364 square feet. The property includes 2,336 square feet of unfinished second-floor space, which offers potential for expansion or generating income. The building features a full commercial kitchen, a café/soda fountain layout, and a new commercial elevator. Situated on a 0.31-acre lot, the property provides 15 parking spaces and includes a backup generator. The location is one block from Atlantic Avenue, providing visibility and walkability. The CBD zoning allows for various commercial uses. The existing business will relocate upon the sale of the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flow and Mills Signature ... Car Wash Elite Garage Door ... Building Supply DELRAY SHORES PHARMACY Pharmacy The Foxworth Fountain Restaurant

    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.

    Similar Places Nearby

    • From Roehm With Love — 257 NE 2nd Ave, Delray Beach, FL 33444

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0684812
    Latitude
    26.4641191

    Nearby Similar for Sale

    • $899,000
      1,140 SF

      Delray Beach Office Condominium

      Office condominium in downtown Delray Beach, near Atlantic Avenue.
      96 NE 5th Avenue, Delray Beach, FL 33483
      View Details
    • $33
      4,399 SF

      Delray Beach Freestanding Office Building

      Freestanding commercial building with parking, near Atlantic Avenue.
      117 NE 5th Avenue, Delray Beach, FL 33483
      View Details
    • $2,490,000
      5,040 SF

      Delray Beach Office Building

      Modern office building in downtown Delray Beach for sale.
      112 SE 10th Street, Delray Beach, FL 33483
      View Details
    • $1,595,000
      1,620 SF

      Mixed-Use Property Near Atlantic Avenue

      Commercial/mixed-use property in prime, walkable downtown Delray location.
      138 N Swinton Avenue, Delray Beach, FL 33444
      View Details
    • $1,300,000
      1,563 SF

      East Delray Beach Freestanding Office

      Freestanding office near Atlantic Ave, Pineapple Grove, and US-1.
      621 NE 3rd Avenue, Delray Beach, FL 33444
      View Details
    • $2,700,000
      4,360 SF

      Spacious Compound Near Pineapple Grove

      Versatile property ideal for assisted living or short-term rental.
      1650 NE 3rd Avenue, Delray Beach, FL 33444
      View Details
    • $350,000
      1,000 SF

      Established French Bakery Business

      Profitable French bakery business for sale in Delray Beach.
      1445 N Congress Avenue, Delray Beach, FL
      View Details
    • $925,000
      1,798 SF

      Delray Beach Investment Property

      Updated triplex near Atlantic Avenue with redevelopment potential.
      1206 NE 3rd Avenue, Delray Beach, FL 33444
      View Details
    • $5,000,000
      7,267 SF

      Delray Beach Multi-Use Commercial Property

      Two-unit commercial building with redevelopment potential in downtown Delray Beach.
      117 NE 5th Avenue, Delray Beach, FL 33483
      View Details
    • $950,000
      2,534 SF

      Delray Beach Multifamily Estate

      Gorgeous Delray Beach multifamily property with oversized lot and modern amenities.
      5285 Sunrise Boulevard, Delray Beach, FL 33484
      View Details
    • $2,350,000
      2,000 SF

      Downtown Delray Beach Multifamily Property

      Renovated multifamily property in Downtown Delray Beach, steps from Atlantic Avenue.
      126 NE 4th Avenue, Delray Beach, FL 33483
      View Details
    • $33

      Commercial Building with On-Site Parking

      Freestanding commercial building with parking, near Atlantic Avenue.
      117 NE 5th Avenue, Delray Beach, FL 33483
      View Details

    FAQs

    What type of property is this?
    Storefront property - Free-standing commercial property in Delray Beach's CBD, built in 2018.
    Where is this storefront property located?
    The property is located at 124 NE 5th Ave Delray Beach, FL.
    What is the asking price?
    The asking price for this property is $4,990,000.
    What are key features of this property?
    This property features: Prime CBD location in Delray Beach, one block from Atlantic Avenue, offering high visibility and walkability.; Free‑standing commercial building with CBD zoning allowing for diverse commercial uses.; Modern construction (built in 2018) with Art Deco‑inspired design.
    (561) 329-8749
    We can help!
    Listing Contact
    Jeffrey A. Cloninger
    Real Estate License ID: 619094
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    124 NE 5th Ave, Delray Beach, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!