Delray Beach 55+
For Sale
$185,000
318 Monaco G, Delray Beach, FL 33446
Turn-key property in the heart of Delray Beach.
Property Size907 SF
Days on Market276
Property Features for 318 Monaco G
General Information
Standard status
Active
Size
907 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$1,837
Building Details
Building Size
907 SF
Year Built
1977
Listing Agency:
(914) 799-0521
Listed By:
George Anastasis
(914) 799-0521
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Aug 30 at 9:28PM
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 George Anastasis
Investment Insights
Based on property information with market context.
Located in the heart of Delray Beach, this property is a short drive to the beach and Atlantic Avenue. Situated in a 55 and over community, it offers amenities such as golf, pools, restaurants, and a clubhouse. The property is a turn-key unit with upgrades including high-end kitchen appliances, counter tops, cabinets, and flooring. The bathrooms have been redone, and the unit includes a new washer, dryer, A/C, and hot water tank. This unit also has water canal views.
Key Highlights
- Prime location in the heart of Delray Beach, close to the beach and Atlantic Ave.
- Turn‑key property with high‑end upgrades throughout, including kitchen appliances, countertops, cabinets, and flooring.
- Beautifully renovated bathrooms and new appliances (washer, dryer, A/C, hot water tank).
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
$13,949
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
7.54%
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%
$278,980
$279.0K
Cap Rate 7%
$199,271
$199.3K
Cap Rate 9%
$154,989
$155.0K
Market Conditions
NOI Build-Up for 907 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
$26.6K $29.28/SF
− Vacancy
−$1.2K −$1.32/SF
EGI
$25.4K $27.96/SF
− OpEx
−$11.4K −$12.58/SF
NOI
$13.9K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$278,980
Cap Rate 7%
$199,271
Cap Rate 9%
$154,989
Alternative Uses
Best Use
Apartment 5plus
$199.3K
$174.4K – $232.5K
NOI $13,949 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$638.8K
$558.9K – $745.2K
NOI $44,713 @ 7.0% cap · market cap 24.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 33446, FL
30,051
Population
18,214
Households
1.6
Avg Household Size
65
Median Age
50%
College-Educated
97%
High-School Grad
18.8 sq mi
ZIP Area
1,598
Density / Sq Mi
$74,995
Median Household Income
$58,284
Median Earnings
$1,792
Median Rent
$415,000
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Turn-key property in the heart of Delray Beach.
Where is this apartment building located?
The property is located at 318 Monaco G Delray Beach, FL.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Prime location in the heart of Delray Beach, close to the beach and Atlantic Ave.; Turn‑key property with **high‑end upgrades** throughout, including kitchen appliances, countertops, cabinets, and flooring.; Beautifully renovated bathrooms and new appliances (washer, dryer, A/C, hot water tank).
