Second-Floor Office
For Sale
$899,000
96 NE 5th Avenue, Delray Beach, FL 33483
Commercial Sale, Delray Beach, FL
Property Size1,140 SF
Lot Size2.00 Acres
Price / SF$788.60
Days on Market233
Property Features for 96 NE 5th Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
CBD(ci
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Lot features
Landscaped
Directions
The office is on the corner of NE 1st Street and NE 5th Ave (Southbound Federal Highway). This is just north of Atlantic Avenue on Southbound Federal Highway. Parking is located on NE 4th Av F
Subdivision
4360
Standard status
Active
APN
12434616h70000960
Size
1,140 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FOUNTAIN SQUARE OFFICE CONDOMINIUM OF DELRAY UNIT 96
Tax Annual Amount
8608
Legal Description
FOUNTAIN SQUARE OFFICE CONDOMINIUM OF DELRAY UNIT 96
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
2
Number of units
11
Flooring type
Carpet, Linoleum
Building materials
CBS
Roof type
Built-Up
Listing Agency:
Sotheby's Intl. Realty, Inc. · Sotheby's International Realty
(561) 659-3555
Listed By:
Ellison Dobbs · License #3649179
(314) 556-4437
Added: Jan 22
Changed: Sep 12
Last Checked: Sep 12 at 1:06PM
MLS# R11156885
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This second-floor office condominium contains 1,140 square feet arranged with four private offices, a conference room, kitchenette, and private bathroom. The unit has carpet and linoleum flooring, central heating and central air, and CBS construction. Built in 1971, the property is served by public water and public sewer, with cable available.
The office is located at 96 NE 5th Avenue in downtown Delray Beach, less than one block from Atlantic Avenue on Federal Highway. A large association-owned parking area sits west of the building, with additional parking on the north and west sides. The property is currently occupied by a tenant, and the landlord may terminate the lease with 90 days’ notice.
The office is located at 96 NE 5th Avenue in downtown Delray Beach, less than one block from Atlantic Avenue on Federal Highway. A large association-owned parking area sits west of the building, with additional parking on the north and west sides. The property is currently occupied by a tenant, and the landlord may terminate the lease with 90 days’ notice.
Key Highlights
- 1,140‑square‑foot second‑floor office condominium at 96 NE 5th Avenue
- Four private offices plus a conference room, kitchenette, and private bathroom
- Less than one block from Atlantic Avenue on Federal Highway
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
$30,216
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
3.36%
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%
$604,320
$604.3K
Cap Rate 7%
$431,657
$431.7K
Cap Rate 9%
$335,733
$335.7K
Market Conditions
NOI Build-Up for 1,140 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
$52.0K $45.60/SF
− Vacancy
−$11.7K −$10.26/SF
EGI
$40.3K $35.34/SF
− OpEx
−$10.1K −$8.84/SF
NOI
$30.2K $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%
$604,320
Cap Rate 7%
$431,657
Cap Rate 9%
$335,733
Alternative Uses
Best Use
Office B
$431.7K
$377.7K – $503.6K
NOI $30,216 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.9K
$702.5K – $936.7K
NOI $56,200 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,586
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Tenant-occupied professional office with private workspaces, conference facilities, kitchenette, and an en suite bathroom.
Where is this office units located?
The property is located at 96 NE 5th Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1,140‑square‑foot second‑floor office condominium at 96 NE 5th Avenue; Four private offices plus a conference room, kitchenette, and private bathroom; Less than one block from Atlantic Avenue on Federal Highway
