Office Condominium
For Sale
$165,000
160 Congress Park Drive 111, Delray Beach, FL 33445
REO office condominium with immediate functionality for an owner-user or investor looking for a manageable office asset.
Property Size500 SF
Price / SF$330
Days on Market126
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
Listed By:
Gus Martinez · License #B26056408
(954) 394-7078
Source:
Mymiahomes
Added: Jun 17
Changed: Oct 10
Last Checked: Oct 19 at 10:08AM
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
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Investment Insights
Based on property information with market context.
This for-sale REO office condominium offers immediate functionality and is suited to both owner-users and investors. The space is presented as an office condominium unit within a condominium structure, providing a contained, ownership-based option for a business that wants to operate from its own suite.
Located at 160 Congress Park Drive, Unit #111 in Delray Beach, the property is described as being well located with strong accessibility. Being in the heart of Delray Beach is intended to support day-to-day usability for an office tenant or business operations, with an emphasis on convenience for occupants.
For tenants and buyers, this configuration can fit a range of professional office users seeking a straightforward, private condominium office setup. For investors, the offering is positioned as an alternative office investment opportunity, while owner-users can evaluate the unit as a ready-to-function workspace. Interested parties should review the condominium arrangement and unit details directly to confirm suitability for their specific business use and operational needs.
Located at 160 Congress Park Drive, Unit #111 in Delray Beach, the property is described as being well located with strong accessibility. Being in the heart of Delray Beach is intended to support day-to-day usability for an office tenant or business operations, with an emphasis on convenience for occupants.
For tenants and buyers, this configuration can fit a range of professional office users seeking a straightforward, private condominium office setup. For investors, the offering is positioned as an alternative office investment opportunity, while owner-users can evaluate the unit as a ready-to-function workspace. Interested parties should review the condominium arrangement and unit details directly to confirm suitability for their specific business use and operational needs.
Key Highlights
- Office condominium built in 2006
- REO office condo in Delray Beach
- Suitable for an owner‑user with immediate functionality or for an investor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,253
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,060
$265.1K
Cap Rate 7%
$189,329
$189.3K
Cap Rate 9%
$147,256
$147.3K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$22.8K $45.60/SF
− Vacancy
−$5.1K −$10.26/SF
EGI
$17.7K $35.34/SF
− OpEx
−$4.4K −$8.84/SF
NOI
$13.3K $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%
$265,060
Cap Rate 7%
$189,329
Cap Rate 9%
$147,256
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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - REO office condominium with immediate functionality for an owner-user or investor looking for a manageable office asset.
Where is this office unit 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: Office condominium built in 2006; REO office condo in Delray Beach; Suitable for an owner‑user with immediate functionality or for an investor
