Delray Beach Mixed-Use
For Sale
$3,000,000
23 S Swinton Avenue, Delray Beach, FL 33444
Mixed-use building in the heart of Delray Beach.
Property Size3,296 SF
Price / SF$910.19
Days on Market274
Property Features for 23 S Swinton Avenue
General Information
Standard status
Active
Size
3,296 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,762
Amenities
Central air
Metal Roof
Central Air Cooling
Central Heating
Phases3
Tile Flooring
Vinyl Flooring
Building Details
Year Built
1937
Listing Agency:
SUTTER & NUGENT LLC
(561) 400-6673
Listed By:
KYLE RETAMAR · License #R11142674
Source:
Corcoran
Added: Nov 22, 2025
Changed: Aug 23
Last Checked: Aug 23 at 5:19AM
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 SUTTER & NUGENT LLC
Investment Insights
Based on property information with market context.
This mixed-use building is located in the heart of Delray Beach, across the street from Sundy Village. The site is currently undergoing approvals and permitting. The building will feature just under 1400 square feet of retail or office space and 1800 square feet of residential space. Parking is situated in the rear of the building. Proposed site plans and renderings are available.
Key Highlights
- Irreplaceable location in the heart of Delray Beach.
- Across the street from Sundy Village.
- Retail/Office building.
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
Mixed Use
$812.2K
$710.7K – $947.6K
NOI $56,856 @ 7.0% cap · market cap 1.90%
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building in the heart of Delray Beach.
Where is this mixed-use property 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: Irreplaceable location in the heart of Delray Beach.; Across the street from Sundy Village.; Retail/Office building.
