Four-Office Condominium
For Sale
$899,000
96 NE 5th Avenue 96, Delray Beach, FL 33483
The tenant-occupied suite includes a conference room, kitchenette, and private restroom; the lease may be ended with 90 days’ notice.
Property Size1,140 SF
Price / SF$788.60
Days on Market278
Property Features for 96 NE 5th Avenue 96
General Information
Standard status
Active
Size
1,140 SF
Property subtype
Office
Additional Details
Floor
Second Floor
HOA Fee
$766
Office Units
1
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$8,607
Amenities
conference room
kitchenette
private bathroom
Building Details
Building Size
1,140 SF
Year Built
1971
Owner Occupied
No
Listing Agency:
Sotheby's Intl. Realty, Inc.
Listed By:
Ellison Dobbs · License #3649179
(314) 556-4437
Source:
Dietzelber
Added: Jan 23
Changed: Oct 27
Last Checked: Oct 27 at 4:18AM
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 Sotheby's Intl. Realty, Inc.
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Investment Insights
Based on property information with market context.
This second-floor office condominium contains 1,140 square feet and dates to 1971. Its layout includes four private offices, a conference room, a kitchenette, and a private bathroom. The unit is currently occupied by a tenant, and the landlord may end the lease with 90 days’ notice.
The property is in downtown Delray Beach, less than one block from Atlantic Avenue along Federal Highway. An association-owned parking lot sits west of the building, with additional parking on its north and west sides. The unit is one of two office spaces on the second floor.
The property is in downtown Delray Beach, less than one block from Atlantic Avenue along Federal Highway. An association-owned parking lot sits west of the building, with additional parking on its north and west sides. The unit is one of two office spaces on the second floor.
Key Highlights
- Four private offices, a conference room, kitchenette, and private bathroom
- 1,140‑square‑foot office condominium on the second floor
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,216
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,603
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The tenant-occupied suite includes a conference room, kitchenette, and private restroom; the lease may be ended with 90 days’ notice.
Where is this office unit located?
The property is located at 96 NE 5th Avenue 96 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: Four private offices, a conference room, kitchenette, and private bathroom; 1,140‑square‑foot office condominium on the second floor; Built in 1971
