492 SF Retail — part of a 4-property portfolio at $5,649,900 — 506 NE 5th Ave, Delray Beach

Executive Summary
Plaza 500 Prime Mixed-Use Shopping Center Opportunity in the Heart of Delray Beach (Retail/Medical/Office)
Positioned at the epicenter of Delray Beach’s high-energy Central Business District, Plaza 500 represents a rare acquisition opportunity within one of South Florida’s most coveted commercial corridors. This versatile mixed-use portfolio, spanning nearly three-quarters of an acre at 466-506 NE 5th Avenue, offers a sophisticated blend of immediate cash flow and significant long-term redevelopment upside. This property offers a rare blend of immediate versatility and long-term potential, making it an ideal acquisition for both owner-users and savvy investors. The current ownership has strategically maintained short-term leases, providing a unique window of flexibility for a buyer looking to occupy the space personally or move forward with a fresh redevelopment vision without the delay of long-term encumbrances.
While the current short-term structure favors a nimble transition, the underlying tenant demand is exceptionally strong. The existing occupants have expressed a clear desire for long-term stability, highlighting the property's consistent appeal and the ease with which a new owner could secure a steady, long-term income stream. Whether you are looking to plant roots for your own operations or capitalize on a high-demand rental market, this location delivers the strategic options necessary to execute your specific investment goals.
The property consists of six meticulously maintained buildings, five of which feature new roofs, reflecting recent capital improvements that ensure a turn-key experience for the next owner. Currently 100% occupied by 12 established tenants, the hallmark of this location is its remarkable stability; 50% of the current tenant base has called this property home for over a decade. This ten-year-plus tenure is a powerful testament to the building's desirability and the strength of the location., the asset provides a stabilized income stream supported by a diverse mix of professional services and retail users.
Location is the defining feature of Plaza 500. Situated just moments from the iconic Atlantic Avenue, the property benefits from incredible visibility and high-density consumer traffic. It is surrounded by a lineup of powerhouse national brands including Publix, AT&T, Jersey Mike’s, The UPS Store, and so much more placing it in the direct path of Delray’s affluent demographic and year-round visitor surge.
With land-use designations that support a wide array of commercial activities, the site is perfectly positioned for its current use or a future high-profile redevelopment project. The proximity to regional transit hubs and Interstate 95, coupled with being less than 30 minutes from Palm Beach International Airport, ensures seamless connectivity for clients and staff alike.
Plaza 500 is more than just a real estate holding; it is a strategic footprint in a world-class destination known for steady growth and vibrant urban charm. Secure a premier piece of the Delray Beach landscape and capitalize on the immense potential of this high-exposure CBD asset.

Investment Highlights Located in the Central Business District with zoning flexibility for mixed-use commercial operations such as retail, medical or office. Accessible location within a growing South Florida submarket featuring a strong consumer base and steady population growth. Surrounded by a lineup of powerhouse national brands including Publix, AT&T, Jersey Mike’s, The UPS Store Prime location just minutes from Downtown Delray Beach and Atlantic Avenue attractions. Less than 30 minutes to Palm Beach International Airport and within short reach of commuter rail connections.

This property is one of 4 offered together for $5,649,900.

Allowed by right

Clothing / apparel boutique, Shoe store, Jewelry store, Home decor / furniture / interior design showroom, Art gallery, Bookstore, Gift shop / souvenir shop, Florist, Specialty grocery / gourmet market, Bakery / patisserie (retail), Ice cream, gelato or frozen yogurt shop, Coffee shop / espresso bar / coffee roaster with retail, Full-service sit-down restaurant, Fast-casual restaurant / counter-service eatery (no drive-thru), Juice / smoothie / acai bar, Wine bar / cocktail lounge, Hair salon / barbershop, Nail salon, Day spa / massage establishment, Med spa / aesthetics clinic, Dry cleaner / tailor / alterations (drop-off), Shoe repair, Pet grooming, Law office, Accounting / CPA / tax office, Real estate brokerage office, Insurance agency, Architecture, engineering or design firm, Marketing / advertising / tech / software office, Co-working / shared office space, Title company / mortgage office, Bank or credit union branch (no drive-through), Dentist / orthodontist office, Physician / physical therapy / chiropractic office, Dermatology or plastic surgery practice, Optometrist / optical shop, Pharmacy / drugstore, Yoga studio, Pilates or barre studio, Boutique fitness gym / CrossFit box, Personal training studio, Jiu-jitsu, karate or martial arts dojo, Dance studio, Music school / art school / tutoring center, Cooking school / demonstration kitchen, Museum or cultural center, Photography studio, Ceramics, glassblowing or pottery studio, Jewelry making / metalsmith workshop, Custom framing shop, Small-batch chocolate, coffee or specialty food production with retail, Hotel, Boutique hotel / residential-type inn, Multi-family apartments or condominiums (upper floors), Townhouses, Live/work unit (studio or shop with residence above), Public or private parking garage (Secondary Street use; must be lined on Primary Streets), Antique shop (verifiable antiques only), Bicycle shop / bike rental

With special approval

Brewpub or taproom with on-site brewing, Nightclub or live-music venue (Entertainment District hour limits apply), Bar open past midnight (24-hour or late-night business), Tattoo or permanent-makeup studio, Veterinary clinic (no outdoor kennels), Bank with drive-through lanes, CBD oil retail as accessory to a pharmacy, medical office or clinic (not on Required Retail Frontage; max 20% of tenant GFA; 8am-10pm), Live theater, cinema or performing arts venue, Screen printing or small sign / graphics shop, Bed and breakfast, Surface parking lot, Child care / preschool, Place of worship or assembly, Car wash or auto detailing (interior, one enclosed wash bay; no repair or fueling on site), Gasoline station, Sporting goods and equipment rental (limits per 4.4.13(C)(4)(c)), Consignment / secondhand or thrift store (prohibited on Required Retail Streets and in West Atlantic Neighborhood), Firearms or auto-parts retail (prohibited on Required Retail Streets and in West Atlantic Neighborhood), Contractor office with limited storage/workshop (no self-storage; 55-gallon cap)

Source: Palm Beach County Appraiser Records