Flex Space with Two Grade Level
For Sale
Contact for pricing
601 N Congress Ave, Delray Beach, FL 33445
Flex space with two motorized grade level overhead doors, warehouse and office HVAC, and secure access with cameras.
Property Size4,681 SF
Price / SF$459.30
Days on Market1362
Property Features for 601 N Congress Ave
General Information
Standard status
Active
Size
4,681 SF
Property subtype
FLEX_R_AND_D
Financials
Asking Price
$1,750,000
HOA Fee
$769.51
Warehouse & Industrial
Drive-In Doors
2
Conditioned Warehouse
Yes
Amenities
Control Access and Cameras
Listing Agency:
Mattis Advisors
(561) 910-0175
Listed By:
Charlie Exelbirt · License #BK3097732
(954) 309-7151
Source:
Moodyscre
Added: Feb 7, 2023
Changed: Oct 26
Last Checked: Oct 30 at 11:20AM
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 Mattis Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space is set up for showroom, office, light manufacturing, or storage use, with a combined warehouse and office layout. The property includes two 12W x 14H grade level motorized overhead doors, HVAC in the warehouse and office, and control access with cameras. Interior improvements feature four private offices, a full kitchen, and two bathrooms, along with hurricane impact windows.
Located at 601 N Congress Ave in Delray Beach, the building also includes association oversight, with quarterly association fees.
The combination of grade level loading and dedicated office space supports tenant operations that need both working and customer-facing areas.
Located at 601 N Congress Ave in Delray Beach, the building also includes association oversight, with quarterly association fees.
The combination of grade level loading and dedicated office space supports tenant operations that need both working and customer-facing areas.
Key Highlights
- 4,681 SF flex space for showroom, light manufacturing, or storage
- Two 12W x 14H grade level motorized overhead doors
- HVAC in the warehouse and office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,070
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,400
$2.5M
Cap Rate 7%
$1,772,429
$1.8M
Cap Rate 9%
$1,378,556
$1.4M
Market Conditions
NOI Build-Up for 4,681 SF
Gross rent
$213.5K $45.60/SF
− Vacancy
−$48.0K −$10.26/SF
EGI
$165.4K $35.34/SF
− OpEx
−$41.4K −$8.84/SF
NOI
$124.1K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,400
Cap Rate 7%
$1,772,429
Cap Rate 9%
$1,378,556
Alternative Uses
Best Use
Office B
$1.77M
$1.55M – $2.07M
NOI $124,070 @ 7.0% cap · market cap 5.77%
Second Best
Flex RnD
$1.47M
$1.29M – $1.72M
NOI $102,963 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$3.30M
$2.88M – $3.85M
NOI $230,764 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Brunch n Roll — 600 N Congress Ave, Delray Beach, FL 33445
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with two motorized grade level overhead doors, warehouse and office HVAC, and secure access with cameras.
Where is this flex space located?
The property is located at 601 N Congress Ave Delray Beach, FL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 4,681 SF flex space for showroom, light manufacturing, or storage; Two 12W x 14H grade level motorized overhead doors; HVAC in the warehouse and office
