Vacant lot

506 NE 3rd Ave

Del Ida ParkDelray Beach8,882 sq ft lot (0.20 acres)Zoned RL
Aerial of 506 NE 3rd Ave, 20262026 · Palm Beach County · Palm Beach Co.

Aerial from 2026, the newest available. The pink line is the surveyed parcel boundary.

What it’s worth as land

From recorded sales
$933K–1.67MMiddle half of nearby land sales, adjusted for lot size (12 sales), applied to this lot’s 8,882 sq ft.
Land price per sq ft, sized to this lot
$0$150$301

Sized to this lot, nearby land sales point to about $173 per sq ft. This parcel last sold for $23K in Jan 1975.

Does it pencil?

Build-and-sell pro forma
Supports a land price up to$1.12Mto build and sell a 4,900 sq ft home here at a 15% margin.
TightAt $1.54M for the land:Profit $195K · 4.4%Needs $1,018/sq ft to hit 15% · assumed $898
Land $1.54MBuild $1.94MSoft costs $194KCarry $275KSelling $264KProfit $195KSale $4.4M
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
RL Multiple Family Residential (Low Density)
Flood zone
X
Lowest floor
—
Waterfront
No
Lot size
8,882 sf 0.20 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
514 NE 3rd Ave
Vacant lot sale
Apr 2025$1.2M13,151 sf$9137 m
209 NE 5th St
Bought for a new home · RTG Construction
Dec 2021$1.35M6,604 sf$204102 m
307 NE 5th Ave
Vacant lot sale
Feb 2022$1.95M12,519 sf$156369 m
318 NE 8th Ave
Bought for a new home · Azure Development
Nov 2024$1.65M8,699 sf$190509 m
424 Palm Trl
Bought for a new home · Azure Development
Oct 2024$2.4M12,798 sf$188532 m
213 NE 9th St
Bought for a new home · Marc Julien Homes
Dec 2024$785K7,501 sf$105538 m
221 NE 9th St
Vacant lot sale
Oct 2024$2M16,248 sf$123540 m
402 Palm Trl
Bought for a new home · Azure Development
Aug 2024$2.5M13,024 sf$192544 m