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    Property profile & analytics

    1515 Congress Ave Delray Beach, FL 33445-2517

    • Showrooms
    • 6,650 SF
    • 1.55 lot acres
    OFF-MARKET
    Value Estimations
    $2,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0271087
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Showrooms

    Property Details for 1515 Congress Ave

    Year built
    1991
    Construction
    CONCRETE
    Lot size
    1.55 lot acres
    Property size
    6,650 SF
    Zone code
    PCC
    Property type
    Showrooms
    APN
    12-43-46-08-25-000-0010
    APU
    12434608250000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,910,000
      6.5%
      $1,765,000
      7%
      $1,640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,553,000
      Market price range: $829k - $4.50M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,590,000
      APARTMENT HOUSE (5+ UNITS)
      $4,560,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0894
    Latitude
    26.4816
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $35,748
    $1,080,832
    $852,860
    $1,933,692
    -
    $1,080,832
    $852,860
    $1,933,692

    Comparable in this City

    • Value Estimation
      $5,430,000
      14,780 SF

      355 Congress Ave

      SHOW ROOM, WAREHOUSE • 14,780 SF
      355 Congress Ave, Delray Beach, FL 33445-3401
      View Details
    • Value Estimation
      $1,860,000
      2,400 SF

      4686 133rd S Rd

      SHOW ROOM, WAREHOUSE • 2,400 SF
      4686 133rd S Rd, Delray Beach, FL 33445-1226
      View Details
    • Value Estimation
      $1,045,000
      1,891 SF

      345 Congress Ave, Unit 1

      SHOW ROOM, WAREHOUSE • 1,891 SF
      345 Congress Ave, Delray Beach, FL 33445-4617
      View Details
    • Value Estimation
      $4,855,000
      15,247 SF

      45 Congress Ave

      SHOW ROOM, WAREHOUSE • 15,247 SF
      45 Congress Ave, Delray Beach, FL 33445-3420
      View Details
    • Value Estimation
      $4,765,000
      18,096 SF

      41 Congress Ave

      SHOW ROOM, WAREHOUSE • 18,096 SF
      41 Congress Ave, Delray Beach, FL 33445-3421
      View Details
    • Value Estimation by Request
      1,020 SF

      3685 Lk Ida Rd

      SHOW ROOM, WAREHOUSE • 1,020 SF
      3685 Lk Ida Rd, Delray Beach, FL 33445
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,904 SF

      New Regions Bank Ground Lease

      New 15-year Regions Bank ground lease in Delray Beach, FL.
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      View Details
    • $1,950,000
      4,681 SF

      Delray Beach Warehouse - $1.95M

      Prime Delray Beach warehouse, 4,681 sq ft.
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      View Details
    • $2,545,000
      7,497 SF

      Delray Beach Warehouse with Storage

      Freestanding warehouse with secured outdoor storage in Delray Beach.
      800 SW 17Th Ave, Delray Beach, FL 33445
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    Similar Nearby for Lease

    • Contact for pricing
      4,551 SF

      Move-in Ready Commercial Space

      Commercial space for rent with showroom and dock high loading.
      955 S Congress Ave, Delray Beach, FL 33445
      View Details
    • Contact for pricing

      Flex Showroom and Warehouse Space

      Flex showroom and warehouse space with high visibility and I-95 access.
      101 S Congress Ave, Delray Beach, FL 33445
      View Details
    • $19 SF/Yr
      3,100 SF

      Delray Beach Industrial Space

      3,100 SF industrial space with mezzanine and high ceilings.
      601 N Congress Ave, Delray Beach, FL 33445
      View Details
    • Contact for pricing

      Delray Beach Office Spaces Available

      Office spaces for rent in a serene office park.
      2605 W Atlantic Ave, Delray Beach, FL 33445
      View Details
    • Contact for pricing
      7,550 SF

      Delray Beach Professional Office Space

      Medically zoned professional building with offices available for lease.
      1300 NW 17Th Ave, Delray Beach, FL 33445
      View Details
    • Sponsored
      Contact for pricing

      The Arbors

      Discover many ways to work your way in The Arbors
      1615 Congress Ave, Delray Beach, FL 33445
      View Details
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    1515 Congress Ave
    Delray Beach, FL 33445-2517
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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