Delray Beach Office/Medical
For Sale
$450,000
Pending
5353 Atlantic Ave 405, Delray Beach, FL 33484
Office/Medical condo for sale in Delray Beach, Florida.
Property Size1,125 SF
Lot Size1.00 Acre
Days on Market167
Property Features for 5353 Atlantic Ave 405
General Information
Standard status
Pending
Size
1,125 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Year Built
1982
Listing Agency:
Coldwell Banker Realty
(786) 223-1810
Listed By:
Susan Denning
(786) 223-1810
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Aug 22 at 11:16AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1125 square foot condo in Delray Beach, Florida, is suitable for medical or professional use. Located on Atlantic Avenue, this end unit benefits from condo fees that cover water, trash, and exterior maintenance.
Key Highlights
- Delray Beach on Atlantic location
- Suitable for medical/professional use
- 1125 sf office/medical condo**
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
$29,818
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
6.63%
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%
$596,360
$596.4K
Cap Rate 7%
$425,971
$426.0K
Cap Rate 9%
$331,311
$331.3K
Market Conditions
NOI Build-Up for 1,125 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
$51.3K $45.60/SF
− Vacancy
−$11.5K −$10.26/SF
EGI
$39.8K $35.34/SF
− OpEx
−$9.9K −$8.84/SF
NOI
$29.8K $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%
$596,360
Cap Rate 7%
$425,971
Cap Rate 9%
$331,311
Alternative Uses
Best Use
Office B
$426.0K
$372.7K – $497.0K
NOI $29,818 @ 7.0% cap · market cap 6.63%
Second Best
Healthcare Medical
$211.8K
$185.3K – $247.1K
NOI $14,823 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$792.3K
$693.3K – $924.3K
NOI $55,460 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,390
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33484, FL
26,340
Population
18,884
Households
1.4
Avg Household Size
66
Median Age
42%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
4,390
Density / Sq Mi
$56,942
Median Household Income
$43,922
Median Earnings
$1,876
Median Rent
$220,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office/Medical condo for sale in Delray Beach, Florida.
Where is this medical office space located?
The property is located at 5353 Atlantic Ave 405 Delray Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Delray Beach on Atlantic location; Suitable for medical/professional use; 1125 sf office/medical condo**
