Retail-Office
For Sale
$3,000,000
23 S Swinton Avenue, Delray Beach, FL 33444
SINGLE_FAMILY - Delray Beach, FL
Property Size3,296 SF
Lot Size0.15 Acres
Price / SF$910.19
Days on Market264
Property Features for 23 S Swinton Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
OSSHAD
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
East Atlantic Ave go South on Swinton Ave
Subdivision
4370
Standard status
Active
APN
12434616010690100
Size
3,296 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF DELRAY LT 10 BLK 69 (OLD SCHOOL SQUARE HISTORIC DISTRICT)
Tax Annual Amount
17762
Legal Description
TOWN OF DELRAY LT 10 BLK 69 (OLD SCHOOL SQUARE HISTORIC DISTRICT)
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1937
Floors in Building
2
Number of units
1
Flooring type
Vinyl, Tile
Roof type
Metal
Listing Agency:
Sutter & Nugent LLC
(561) 249-7266
Listed By:
Kyle Retamar · License #3421319
(561) 400-6673
Added: Nov 21, 2025
Changed: Aug 7
Last Checked: Aug 12 at 3:06AM
MLS# R11142674
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.
Investment Insights
Based on property information with market context.
Proposed retail/office and residential building at 23 S Swinton Avenue in Delray Beach. The site is currently in the approvals and permitting process, with a proposed layout totaling just under 1,400 SF of retail/office space and approximately 1,800 SF of residential space. Parking is planned for the rear of the building, and proposed site plan and renderings are available upon request.
The property is described as being in the heart of Delray Beach, positioned across the street from Sundy Village. Zoning is listed as OSSHAD. The lot size is 0.15 acres.
The property is described as being in the heart of Delray Beach, positioned across the street from Sundy Village. Zoning is listed as OSSHAD. The lot size is 0.15 acres.
Key Highlights
- Building plan includes just under 1,400 SF of retail/office and 1,800 SF of residential space
- Parking located in the rear of the building
- Proposed site plan and renderings available; site currently in for approvals and permitting
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
$87,360
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
2.91%
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%
$1,747,200
$1.7M
Cap Rate 7%
$1,248,000
$1.2M
Cap Rate 9%
$970,667
$970.7K
Market Conditions
NOI Build-Up for 3,296 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
$150.3K $45.60/SF
− Vacancy
−$33.8K −$10.26/SF
EGI
$116.5K $35.34/SF
− OpEx
−$29.1K −$8.84/SF
NOI
$87.4K $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%
$1,747,200
Cap Rate 7%
$1,248,000
Cap Rate 9%
$970,667
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.46M
NOI $87,360 @ 7.0% cap · market cap 2.91%
Second Best
Retail
$796.2K
$696.7K – $928.9K
NOI $55,733 @ 7.0% cap · market cap 1.86%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,486 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,562
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Proposed retail/office and residential build with parking located at the rear of the building.
Where is this retail space located?
The property is located at 23 S Swinton Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Building plan includes just under 1,400 SF of retail/office and 1,800 SF of residential space; Parking located in the rear of the building; Proposed site plan and renderings available; site currently in for approvals and permitting
