Boynton Beach Office
For Sale
$669,000
Pending
1880 N Congress Ave 315, Boynton Beach, FL 33426
Office condo in a well-located, fully leased commercial center.
Property Size1,485 SF
Days on Market121
Property Features for 1880 N Congress Ave 315
General Information
Standard status
Pending
Size
1,485 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,733
Building Details
Building Size
1,485 SF
Year Built
2008
Stories
4
Units
200
Listing Agency:
(561) 568-2649
Listed By:
Jean McCoy Phillips LLC
(561) 568-2649
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 3:05PM
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 Jean McCoy Phillips LLC
Investment Insights
Based on property information with market context.
This office condo is located in Renaissance Common and Compson Place, situated at the intersection of E. Gateway Blvd. and N. Congress Ave., approximately 1.5 miles from I95, providing convenient access to major roads. The surrounding center is fully leased to retail and restaurant tenants, including Starbucks, Lemongrass, and Bonefish Grill. The unit is currently configured as a law office, featuring a reception area, conference room, kitchen, shared office spaces, and three private offices. The property includes four assigned parking spaces. The building is professionally managed, with well-maintained common areas and landscaping.
Key Highlights
- Fully leased center with established retail and restaurant tenants including Starbucks, Lemongrass, and Bonefish Grill.
- Prime location at the intersection of E. Gateway Blvd. and N. Congress Ave., just 1.5 miles from I95, offering easy access to major roads.
- Office condo includes a reception area, conference room, kitchen, shared office spaces, and 3 private offices.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$787,200
$787.2K
Cap Rate 7%
$562,286
$562.3K
Cap Rate 9%
$437,333
$437.3K
Market Conditions
NOI Build-Up for 1,485 SF
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.
Gross rent
$67.7K $45.60/SF
− Vacancy
−$15.2K −$10.26/SF
EGI
$52.5K $35.34/SF
− OpEx
−$13.1K −$8.84/SF
NOI
$39.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$787,200
Cap Rate 7%
$562,286
Cap Rate 9%
$437,333
Alternative Uses
Best Use
Office B
$562.3K
$492.0K – $656.0K
NOI $39,360 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$915.1K – $1.22M
NOI $73,207 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33426, FL
25,155
Population
12,500
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,124
Density / Sq Mi
$76,328
Median Household Income
$43,992
Median Earnings
$1,981
Median Rent
$298,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo in a well-located, fully leased commercial center.
Where is this office units located?
The property is located at 1880 N Congress Ave 315 Boynton Beach, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Fully leased center with established retail and restaurant tenants including Starbucks, Lemongrass, and Bonefish Grill.; Prime location at the intersection of E. Gateway Blvd. and N. Congress Ave., just 1.5 miles from I95, offering easy access to major roads.; Office condo includes a reception area, conference room, kitchen, shared office spaces, and 3 private offices.
