Mixed-Use Portfolio with New
For Sale
Contact for pricing
466 Northeast 5th Avenue, Delray Beach, FL 33483
Six-building commercial portfolio with full occupancy, professional services, and retail tenancy.
Property Size9,637 SF
Lot Size0.68 Acres
Price / SF$586.27
Days on Market54
Property Features for 466 Northeast 5th Avenue
General Information
Standard status
Active
Size
9,637 SF
Class
B
Lot size
0.68 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
Central Business District
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$331,914
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$428,228
Building Details
Year Built
1950
Year Renovated
2022
Buildings
6
Units
12
Tenancy
Multi
Building Size
9,637 SF
Listing Agency:
Compass Florida LLC
Listed By:
Christopher Tapia · License #fl3297816
Source:
Crexi
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 11:34PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial portfolio comprises six buildings totaling 9,637 square feet across four tax parcels. The combined site measures approximately 0.68 acres and carries Central Business District zoning. Five buildings have brand-new roofs, and the improvements date to 1950. Current occupancy is 100% across 12 tenants representing professional services and retail uses.
The property is located at 466 Northeast 5th Avenue in Delray Beach, near Atlantic Avenue and a group of established national retailers including Publix, AT&T, Jersey Mike’s, and The UPS Store. Interstate 95, regional transit hubs, and Palm Beach International Airport are also identified as nearby connectivity points. The existing configuration supports a mix of commercial occupants within a multi-building CBD setting.
The property is located at 466 Northeast 5th Avenue in Delray Beach, near Atlantic Avenue and a group of established national retailers including Publix, AT&T, Jersey Mike’s, and The UPS Store. Interstate 95, regional transit hubs, and Palm Beach International Airport are also identified as nearby connectivity points. The existing configuration supports a mix of commercial occupants within a multi-building CBD setting.
Key Highlights
- 9,637 square feet across four tax parcels
- Approximately ±0.68 acres of Central Business District‑zoned land
- Six buildings with 100% occupancy across 12 tenants
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
$255,429
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
4.52%
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%
$5,108,580
$5.1M
Cap Rate 7%
$3,648,986
$3.6M
Cap Rate 9%
$2,838,100
$2.8M
Market Conditions
NOI Build-Up for 9,637 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
$439.4K $45.60/SF
− Vacancy
−$98.9K −$10.26/SF
EGI
$340.6K $35.34/SF
− OpEx
−$85.1K −$8.84/SF
NOI
$255.4K $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%
$5,108,580
Cap Rate 7%
$3,648,986
Cap Rate 9%
$2,838,100
Alternative Uses
Best Use
Office B
$3.65M
$3.19M – $4.26M
NOI $255,429 @ 7.0% cap · market cap 4.52%
Second Best
Mixed Use
$2.37M
$2.08M – $2.77M
NOI $166,238 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$6.79M
$5.94M – $7.92M
NOI $475,084 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,808
Businesses Nearby
Explore this area
Business Placement
Demographics for 33483, FL
13,103
Population
9,493
Households
1.4
Avg Household Size
59
Median Age
57%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
3,448
Density / Sq Mi
$117,854
Median Household Income
$60,502
Median Earnings
$2,306
Median Rent
$755,700
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 - Six-building commercial portfolio with full occupancy, professional services, and retail tenancy.
Where is this mixed-use property located?
The property is located at 466 Northeast 5th Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $5,649,900.
What are key features of this property?
This property features: 9,637 square feet across four tax parcels; Approximately ±0.68 acres of Central Business District‑zoned land; Six buildings with 100% occupancy across 12 tenants
