Office Condominium
For Sale
$165,000
160 Congress Park Drive 111, Delray Beach, FL 33445
REO office condominium offered for sale with immediate functionality in a central Delray Beach location.
Property Size500 SF
Price / SF$330
Days on Market10
Property Features for 160 Congress Park Drive 111
General Information
Standard status
Active
Size
500 SF
Building Details
Year Built
2006
Listing Agency:
CMV Realty LLC
(954) 394-7078
Listed By:
Gus Martinez · License #B26003399
Source:
Mymiahomes
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 30 at 9:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CMV Realty LLC
Investment Insights
Based on property information with market context.
This REO office condominium suite is being offered for sale and is positioned to support immediate functionality for an owner-user. The property is part of a condominium setup and is presented as an opportunity that may also appeal to investors based on the seller’s stated upside.
Located at 160 Congress Park Drive, Suite 111 in Delray Beach, the asset is described as being in the heart of the market with convenient access.
While additional interior details are not provided, the offering is clearly marketed as an office condominium suite suitable for business operations or investment ownership.
Located at 160 Congress Park Drive, Suite 111 in Delray Beach, the asset is described as being in the heart of the market with convenient access.
While additional interior details are not provided, the offering is clearly marketed as an office condominium suite suitable for business operations or investment ownership.
Key Highlights
- REO office condominium for sale with immediate functionality
- Year built: 2006
- Office condo located in the heart of Delray Beach
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.8k | $45.60 |
| − Vacancy | −$5.1k | −$10.26 |
| EGI | $17.7k | $35.34 |
| − OpEx | −$4.4k | −$8.84 |
| NOI | $13.3k | $26.51 |
500 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$189.3K
$165.7K – $220.9K
NOI $13,253 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$352.1K
$308.1K – $410.8K
NOI $24,649 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 33445, FL
32,265
Population
17,584
Households
1.8
Avg Household Size
51
Median Age
39%
College-Educated
90%
High-School Grad
8.1 sq mi
ZIP Area
3,983
Density / Sq Mi
$70,748
Median Household Income
$41,169
Median Earnings
$1,991
Median Rent
$282,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - REO office condominium offered for sale with immediate functionality in a central Delray Beach location.
Where is this office units located?
The property is located at 160 Congress Park Drive 111 Delray Beach, FL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: REO office condominium for sale with immediate functionality; Year built: 2006; Office condo located in the heart of Delray Beach
