Best way to distribute ip block

I have a /29 ip block setup on my wan port. i want to assign one of the Ips to another port on my mikrotik. Connected to that port is another router. Having it setup as DHCP would be nice for the client to just plug it in.

You have a /29 wan prefix. For your setup, you need a LAN (routed) prefix to assign inside your network.
However, you can assign another IP address of this block on the same wan port, and use NAT rules to forward the traffic to the client.

https://wiki.mikrotik.com/wiki/Manual:IP/Firewall/NAT#Forward_all_traffic_to_internal_host

Hope this can help you!

Maybe this one will be helpful for you?

https://youtu.be/YJxVm6jZYiU?list=PLfpN7Rcw8qidQLXSkigUlwXubjrFCmEM5&t=1678