Freestanding Office
For Sale
$1,300,000
621 NE 3rd Ave, Delray Beach, FL 33444
RO-zoned office property with private rooms, reception, and meeting space near Delray Beach’s East Atlantic corridor.
Property Size1,563 SF
Price / SF$831.73
Days on Market48
Property Features for 621 NE 3rd Ave
General Information
Standard status
Active
Size
1,563 SF
Zoning
RO
Building Details
Year Built
1957
Listing Agency:
Mangrove Realty Inc
Listed By:
Damara L Cohn PA · License #B26003685
Source:
Wesellhomes
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 7 at 5:10PM
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
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Investment Insights
Based on property information with market context.
This freestanding office property contains 1,563 square feet and was built in 1957. The existing arrangement includes private offices, reception space, and a conference or meeting area, providing a professional setting that can accommodate immediate occupancy or light reconfiguration. The property is zoned RO (Residential Office), supporting professional office use subject to verification.
Positioned on NE 3rd Ave in East Delray Beach, the property is near Atlantic Ave, Pineapple Grove, and US-1. Its setting is described as walkable and part of a corridor with office and mixed-use activity. The front yard may provide an opportunity for additional on-site parking consistent with nearby office properties, subject to buyer verification of configuration and approvals.
Positioned on NE 3rd Ave in East Delray Beach, the property is near Atlantic Ave, Pineapple Grove, and US-1. Its setting is described as walkable and part of a corridor with office and mixed-use activity. The front yard may provide an opportunity for additional on-site parking consistent with nearby office properties, subject to buyer verification of configuration and approvals.
Key Highlights
- 1,563‑square‑foot freestanding office property
- Built in 1957
- RO (Residential Office) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,427
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,540
$828.5K
Cap Rate 7%
$591,814
$591.8K
Cap Rate 9%
$460,300
$460.3K
Market Conditions
NOI Build-Up for 1,563 SF
Gross rent
$71.3K $45.60/SF
− Vacancy
−$16.0K −$10.26/SF
EGI
$55.2K $35.34/SF
− OpEx
−$13.8K −$8.84/SF
NOI
$41.4K $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 Rate 5%
$828,540
Cap Rate 7%
$591,814
Cap Rate 9%
$460,300
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,819
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - RO-zoned office property with private rooms, reception, and meeting space near Delray Beach’s East Atlantic corridor.
Where is this office building located?
The property is located at 621 NE 3rd Ave 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: 1,563‑square‑foot freestanding office property; Built in 1957; RO (Residential Office) zoning
