Vacant lot

307 NE 5th Ave

Highland Park DelrayDelray Beach12,519 sq ft lot (0.29 acres)Zoned CBD
307 NE 5th Ave in 2026307 NE 5th Ave in 20172017 · Palm Beach County · Palm Beach Co.2026 · Palm Beach County · Palm Beach Co.

Drag to compare the lot in 2017 with 2026. The pink line is the surveyed parcel boundary.

What it’s worth as land

From recorded sales
$2.19–2.5MMiddle half of nearby land sales, adjusted for lot size (12 sales), applied to this lot’s 12,519 sq ft.
Land price per sq ft, sized to this lot
$0$160$320

Sized to this lot, nearby land sales point to about $194 per sq ft. This parcel last sold for $1.95M in Feb 2022 ($156 per sq ft, the pink dot).

Does it pencil?

Build-and-sell pro forma
Supports a land price up to$1.55Mto build and sell a 4,600 sq ft home here at a 15% margin.
Doesn’t pencilAt $2.43M for the land:Loss $152K · −2.8%Needs $1,465/sq ft to hit 15% · assumed $1,196
Land $2.43MBuild $2.28MSoft costs $228KCarry $390KSelling $330KLoss $152KSale $5.5M
Delray Beach calibration

Calibrated on 83 Delray Beach deals. With these build costs the calculator's land budget is a median 98% of what the builders actually paid for the lot, and within 25% of it on 47 of the 83 (the old defaults came to 85%).

A quick pro forma, not an appraisal. Every number is editable; the starting points come from city records, and build cost is an assumption to replace with a builder’s bid.

The rules

City GIS and parcel roll
Zoning
CBD Central Business District
Flood zone
X
Lowest floor
—
Waterfront
No
Lot size
12,519 sf 0.29 acres
Ownership
Company often a builder or investor

Setbacks, height and lot coverage depend on the zoning district; see Delray Beach’s Land Development Regulations (Chapter 4, Zoning). Confirm with a surveyor and the city before you buy.

Nearby land sales

Off the water · last 5 years
AddressSoldPriceLot$/sq ftAway
318 NE 8th Ave
Bought for a new home · Azure Development
Nov 2024$1.65M8,699 sf$190239 m
219 NE 8th Ave
Bought for a new home · Ocean Blue Custom Homes
May 2024$2.1M10,058 sf$209342 m
234 Palm Trl
Bought for a new home · Azure Development
Jan 2023$2M11,021 sf$181347 m
716 NE 2nd St
Bought for a new home · Azure Development
Apr 2022$1.75M7,518 sf$233365 m
514 NE 3rd Ave
Vacant lot sale
Apr 2025$1.2M13,151 sf$91406 m
402 Palm Trl
Bought for a new home · Azure Development
Aug 2024$2.5M13,024 sf$192407 m
209 NE 5th St
Bought for a new home · RTG Construction
Dec 2021$1.35M6,604 sf$204428 m
424 Palm Trl
Bought for a new home · Azure Development
Oct 2024$2.4M12,798 sf$188451 m