Office Condominium
For Sale
$165,000
160 Congress Park Dr Unit 111, Delray Beach, FL 33445
Commercial condominium space at Unit 111 offers an established setting for business operations in a 2006-built property.
Property Size500 SF
Price / SF$330
Days on Market81
Property Features for 160 Congress Park Dr Unit 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:
Wesellhomes
Added: Aug 9
Changed: Oct 25
Last Checked: Oct 26 at 6:01PM
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 REO office condominium is located at 160 Congress Park Dr, Unit 111, in Delray Beach, Florida. The property was built in 2006 and is identified as an office unit suitable for business operations or ownership-based occupancy.
The recorded property size is 500, and the asset is offered for sale as an office condominium. Its condominium format provides a defined commercial ownership interest within an established office property.
The recorded property size is 500, and the asset is offered for sale as an office condominium. Its condominium format provides a defined commercial ownership interest within an established office property.
Key Highlights
- REO office condominium offered for sale
- Located at 160 Congress Park Dr Unit 111, Delray Beach, FL 33445
- Built in 2006
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.
How Realmo checks its estimates
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial condominium space at Unit 111 offers an established setting for business operations in a 2006-built property.
Where is this office unit located?
The property is located at 160 Congress Park Dr Unit 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 offered for sale; Located at 160 Congress Park Dr Unit 111, Delray Beach, FL 33445; Built in 2006
