Vacant lot

511 NE 3rd Ave

Del Ida ParkDelray Beach7,723 sq ft lot (0.18 acres)Zoned RO
Aerial of 511 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
$927K–1.56MMiddle half of nearby land sales, adjusted for lot size (12 sales), applied to this lot’s 7,723 sq ft.
Land price per sq ft, sized to this lot
$0$162$323

Sized to this lot, nearby land sales point to about $195 per sq ft. This parcel last sold for $260K in Sep 2020 ($34 per sq ft, the pink dot).

Does it pencil?

Build-and-sell pro forma
Supports a land price up to$1.03Mto build and sell a 4,500 sq ft home here at a 15% margin.
TightAt $1.51M for the land:Profit $74K · 1.8%Needs $1,048/sq ft to hit 15% · assumed $898
Land $1.51MBuild $1.78MSoft costs $178KCarry $263KSelling $242KProfit $74KSale $4.04M
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
RO Residential/Office
Flood zone
X
Lowest floor
—
Waterfront
No
Lot size
7,723 sf 0.18 acres
Ownership
Private owner

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$9171 m
209 NE 5th St
Bought for a new home · RTG Construction
Dec 2021$1.35M6,604 sf$204158 m
307 NE 5th Ave
Vacant lot sale
Feb 2022$1.95M12,519 sf$156355 m
318 NE 8th Ave
Bought for a new home · Azure Development
Nov 2024$1.65M8,699 sf$190471 m
424 Palm Trl
Bought for a new home · Azure Development
Oct 2024$2.4M12,798 sf$188478 m
402 Palm Trl
Bought for a new home · Azure Development
Aug 2024$2.5M13,024 sf$192492 m
213 NE 9th St
Bought for a new home · Marc Julien Homes
Dec 2024$785K7,501 sf$105533 m
221 NE 9th St
Vacant lot sale
Oct 2024$2M16,248 sf$123533 m