Freestanding Office
621 NE 3rd Avenue Delray Beach, FL 33444
621 NE 3rd Avenue, Delray Beach, FL, 33444
$1,300,000
For Sale
$1,300,000
Freestanding office property zoned RO (Residential Office) with private offices, reception, and meeting space.
Property Size1,563 SF
Price / SF$831.73
Days on Market128
Property Features for 621 NE 3rd Avenue
General Information
- Standard status
- Active
- Size
- 1,563 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing agency
MANGROVE REALTY INC
Listed by
DAMARA L COHN PA · License #B26003685
Source
Corcoran
Added: Mar 18 Updated: Jul 22 at 8:41AM Checked: Jul 23 at 4:06AM
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 MANGROVE REALTY INC
Investment Insights
Based on property information with market context.
Freestanding office property configured for professional use, with private offices, a reception area, and meeting space. The layout can support immediate occupancy or light reconfiguration depending on an end user’s requirements.
Located in East Delray Beach near Atlantic Avenue, Pineapple Grove, and US-1. The property sits within a transitioning corridor with a growing mix of office and mixed-use properties.
Zoned RO (Residential Office), the building is positioned for businesses that need a private, office-focused environment. A front yard area may allow for additional on-site parking consistent with nearby office properties, subject to buyer verification.
Located in East Delray Beach near Atlantic Avenue, Pineapple Grove, and US-1. The property sits within a transitioning corridor with a growing mix of office and mixed-use properties.
Zoned RO (Residential Office), the building is positioned for businesses that need a private, office-focused environment. A front yard area may allow for additional on-site parking consistent with nearby office properties, subject to buyer verification.
Key Highlights
- Freestanding office property built in 1957 in East Delray Beach
- Zoned RO (Residential Office) for professional office use
- Flexible interior layout with private offices, reception, and meeting/conference space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.3k | $45.60 |
| − Vacancy | −$16.0k | −$10.26 |
| EGI | $55.2k | $35.34 |
| − OpEx | −$13.8k | −$8.84 |
| NOI | $41.4k | $26.51 |
1,563 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$591.8K
$517.8K – $690.5K
NOI $41,427 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$963.2K – $1.28M
NOI $77,053 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Freestanding office property zoned RO (Residential Office) with private offices, reception, and meeting space.
Where is this office units located?
The property is located at 621 NE 3rd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Freestanding office property built in 1957 in East Delray Beach; Zoned RO (Residential Office) for professional office use; Flexible interior layout with private offices, reception, and meeting/conference space
