Storefront Property with
For Sale
$15,750,000
1601 S Congress Ave Boynton, Boynton Beach, FL 33436
Two occupied retail locations include drive-thru improvements and excess C3-zoned land.
Property Size23,488 SF
Days on Market239
Property Features for 1601 S Congress Ave Boynton
General Information
Standard status
Active
Size
23,488 SF
Class
B
Property subtype
Street Retail
Zoning
C3
Occupancy
100%
Building Details
Building Size
23,488 SF
Year Built
2004
Year Renovated
2021
Listing Agency:
The Jonna Group
Listed By:
Simon Jonna · License #6501357188
(248) 226-1610
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 2
Last Checked: Oct 14 at 7:38PM
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 The Jonna Group
Investment Insights
Based on property information with market context.
This storefront property offering includes two occupied retail locations associated with a McDonald's ground lease and Walgreens. The improvements were built in 2004 and renovated in 2021, with build-to-suit prototype designs and drive-thru components. The offering may be acquired individually or as a portfolio, and includes excess land zoned C3.
The sites are positioned along Congress Ave and W. Wooldbright Rd in Boynton Beach, between Boca Raton and West Palm Beach. Reported traffic exposure exceeds 70,000 VPD. The surrounding area includes retail, healthcare, and office density, with 4,000+ new residential unit deliveries projected for 2027 and 1.1M square feet of office development identified in the surrounding context.
The sites are positioned along Congress Ave and W. Wooldbright Rd in Boynton Beach, between Boca Raton and West Palm Beach. Reported traffic exposure exceeds 70,000 VPD. The surrounding area includes retail, healthcare, and office density, with 4,000+ new residential unit deliveries projected for 2027 and 1.1M square feet of office development identified in the surrounding context.
Key Highlights
- Two occupied storefront locations offered individually or as a portfolio
- McDonald's ground lease and Walgreens included in the offering
- Build‑to‑suit layouts with drive‑thru improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$452,167
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,043,340
$9.0M
Cap Rate 7%
$6,459,529
$6.5M
Cap Rate 9%
$5,024,078
$5.0M
Market Conditions
NOI Build-Up for 23,488 SF
Gross rent
$648.3K $27.60/SF
− Vacancy
−$45.4K −$1.93/SF
EGI
$602.9K $25.67/SF
− OpEx
−$150.7K −$6.42/SF
NOI
$452.2K $19.25/SF
Area
Palm Beach County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,043,340
Cap Rate 7%
$6,459,529
Cap Rate 9%
$5,024,078
Alternative Uses
Best Use
Specialty Retail
$6.46M
$5.65M – $7.54M
NOI $452,167 @ 7.0% cap · market cap 2.87%
Second Best
Retail
$5.67M
$4.96M – $6.62M
NOI $397,163 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$16.54M
$14.47M – $19.30M
NOI $1,157,910 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33436, FL
45,230
Population
23,744
Households
1.9
Avg Household Size
48
Median Age
35%
College-Educated
91%
High-School Grad
11.8 sq mi
ZIP Area
3,833
Density / Sq Mi
$76,011
Median Household Income
$37,308
Median Earnings
$1,883
Median Rent
$327,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- DBG Flowers — 2001 Corporate Dr, Boynton Beach, FL 33426
Frequently Asked Questions
What type of property is this?
Storefront property - Two occupied retail locations include drive-thru improvements and excess C3-zoned land.
Where is this storefront property located?
The property is located at 1601 S Congress Ave Boynton Boynton Beach, FL.
What is the asking price?
The asking price for this property is $15,750,000.
What are key features of this property?
This property features: Two occupied storefront locations offered individually or as a portfolio; McDonald's ground lease and Walgreens included in the offering; Build‑to‑suit layouts with drive‑thru improvements
