$980,000

502 SE 3RD AVE, DELRAY BEACH, FL 33483

4 beds2 baths1,458 sq ftHouseBuilt 1986
Updated today, November 3, 2026

This home against Delray Beach

$672 per sq ft, 58% over the Delray Beach median
170 days on the market
Price cut $170,000 since it was listed at $1,150,000
$2,194 in property taxes (2025)
6,534 sq ft lot

Delray Beach today: 631 homes for sale, median list price $599,900.

About this home

Lot play, not a house sale. Corner lot, 6,510 SF, R-1-A, no HOA, two to three blocks south of Atlantic, walk or bike to the beach. FEMA Zone X. City and CRA street, alley, sidewalk, lighting, and utility work is done. New homes on the block are trading around $2.3M-$3.7M. The 1986 ranch, 1,458 SF, is the teardown, which is why the house price per foot is not the underwriting. Reduced to $980,000, about $151 a land foot. Cover and tour images of a new house are renderings for vision only, not the existing improvement and not an approved plan. Buyer to verify setbacks, coverage, and height with the City of Delray Beach. Cash or conventional. Build in one of East Delray's last downtown-adjacent grids where demand still outpaces available dirt. Osceola Park is the SOFA grid, south of Atlantic. The City and the CRA rebuilt the streets starting in 2020: paved roads and alleys, sidewalks, LED lighting, traffic calming, and new water and sewer, including this quadrant between Southeast 2nd and Southeast 5th Avenues. Builders followed. Modern 3,200-4,000 square foot homes are rising on the same blocks, with finished product offered from about $2.3 million to $3.2 million. From this corner, Atlantic is two to three blocks north and the ocean is a short walk or bike ride east. The opening is a corner lot that has not been rebuilt yet, on a grid where the city work is done and the new houses are already selling. Buyer to verify setbacks, coverage, and height with the City of Delray Beach.Private appointments only. No drop-ins. Investment highlights Lot play, not a house sale. Price the land. 6,510 SF corner, 0.15 acres, R-1-A, no HOA, no association rental restriction Two to three blocks south of Atlantic. Walk or bike to the beach Public infrastructure already spent: CRA / City streets, alleys, sidewalks, lighting, water and sewer Builder proof on the block. New homes trading and shells going up around $2.3M-$3.2M One of the last downtown-adjacent quadrants not fully rebuilt. Northeast Atlantic and the marina are largely done Existing ranch is a teardown canvas Cash or conventional. Showings by appointment

Near this home

Elementary school: S. D. Spady Elementary School, 1 mi
Middle school: Carver Middle School, 1.4 mi
High school: Atlantic High School, 0.7 mi
Park: Eagle Park, 0.6 mi
Beach: Delray Public Beach, 2 mi
Grocery: MIA Supermarket, 0.7 mi

Distances from the center of DELRAY BEACH. Schools are nearest by distance, not an attendance zone.

Listing courtesy of LPT Realty, LLC. MLS# B26029760.

Listing information is provided by the MLS and is deemed reliable but not guaranteed.

Listed May 17, 2026.

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