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Property profile & analytics
FOR LEASE
Commercial land
40 North Congress Ave Delray Beach, FL 33445
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-1474099
For Lease
$765,000
40 North Congress Ave, Delray Beach, FL 33445
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
0.56 ac (24,228 SF)
Zoning code
SAD
APN
12-43-46-18-71-002-0000
UPID
US18-1474099
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Delray Beach Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$765k
Owner & transaction history
1631 Route 23 Butler LLC · 3 yrs held
1631 Route 23 Butler LLC
since 2022
Last sale
$775,000
1 recorded transaction
Zoning & alternative use
SAD · Delray Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Special Activities District (SAD) is established to provide a zone district appropriate for developments not otherwise classified or categorized in other districts; or, cannot be properly accommodated in any other zone district. The SAD is to be used for large scale and mixed-use developments for which conventional zoning and development standards are no…
Zone name
Special Activities District
General category
MIXED_USE
Zone area
235.55 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Delray Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delray Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$745,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $775k (Sep 30 2022)
Last sale anchor
$775k
Sep 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,374
Tax year 2023
Assessed value
$629,928
Assessed 2023
Previous assessed
$436,284
+44.4% YoY
Effective rate
1.96%
On assessed value
Assessed land
$629,928
Land market value
$629,928
Total market value
$629,928
Applied tax rate
12,987.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Lot
0.56 ac (24,228 SF)
Zoning code
SAD
APN
12-43-46-18-71-002-0000
UPID
US18-1474099
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
SAD · Delray Beach, FLZoning SAD · permitted uses
SAD · Delray Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Special Activities District (SAD) is established to provide a zone district appropriate for developments not otherwise classified or categorized in other districts; or, cannot be properly accommodated in any other zone district. The SAD is to be used for large scale and mixed-use developments for which conventional zoning and development standards are not appropriate
Zone name
Special Activities District
General category
MIXED_USE
Zone area
235.55 ac
Source
Realmo
Building & site characteristics
From public records
Lot
0.56 ac
Current owner
From public records · entity-resolved
1631 Route 23 Butler LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10 WAGARAW RD, HAWTHORNE, NJ 07506-2704
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2022
$775,000
1631 Route 23 Butler LLC
Trg Delray Beach Congress LLC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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