Technical
Financial
Distress signals
Property profile

223 NE 5Th Ave Delray Beach, FL 33483

FOR LEASE
Office buildings
Property ID
US18-2450782
4,050 SF 0.37 ac lot Built 1984
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional office space, located at 223 NE 5th Ave in Delray Beach, Florida, presents a fantastic opportunity for businesses seeking a vibrant and convenient location. The property, a single-story Class C building constructed in 1984, offers multiple tenancy options within a total of 3600 square feet. Individual suites range from a minimum of 1,200 square feet to a maximum contiguous space of 2,400 square feet, providing flexibility for various business needs. The building sits on a 0.38-acre lot in the heart of downtown Delray Beach, a thriving urban center in South Florida. The office space itself features a mostly open floor plan, ideal for collaborative work environments, complemented by private offices for focused work and two restrooms for convenience. Ample on-site parking is available, ensuring easy access for employees and clients. This recently renovated space is situated just two blocks north of Atlantic Avenue, offering exceptional visibility and proximity to the area's bustling commercial activity. The property's location on Federal Highway provides excellent accessibility and high visibility. This is an outstanding opportunity to establish a presence in one of South Florida's most dynamic and sought-after urban markets. The property is located in Palm Beach County, Florida, zip code 33483.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1984
Construction WOOD
Total area 4,050 SF
Lot 0.37 ac (15,912 SF)
Zoning code CBD
APN 12-43-46-16-01-106-0070
UPID US18-2450782

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Construction Company General Contractor
  • Plumbing Service General Contractor
  • Hardware & Home Improvement Construction Company
  • Marketing & Advertising

Location

223 NE 5Th Ave Delray Beach, FL 33483
Delray Beach metro Census 6502 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.76M
Comparable Approach Comparable
$1.04M
Blend (final) Blend
$1.38M

Owner & transaction history

since 2025
4 recorded transactions
2025
Price N/A
2013
Price N/A
2000
$315,000
1969
Price N/A

Zoning & alternative use

CBD · Delray Beach, FL
Zoning description

The Central Business District (CBD) is established to preserve and protect the cultural and historic aspects of downtown Delray Beach and simultaneously provide for the stimulation and enhancement of the vitality and eco…

General category COMMERCIAL
Top alternative use upside
Auto repair, garage $2.0M +4.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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