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    600 Congress Ave Delray Beach, FL 33445-3464
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    Property profile & analytics

    600 Congress Ave, Delray Beach, FL 33445-3464

    View on Map
    • Community centers
    • 39,132 SF
    • 7.47 lot acres
    Off-Market
    Property ID
    US18-1991632
    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.
    Value Estimations
    $10,430,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Delray Beach AC Pros / Hardware & Home Improvement / HVAC Service
    • Nittq Joseph J DC / Alternative Medicine Practice
    • Hot Yoga of Delray / Gym & Fitness Center
    • Dollar General / Discount Store
    • Your Go-to Destination for All Things Adorable and Spooky! / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center

    Property Details for 600 Congress Ave

    Year built
    1980
    Construction
    CONCRETE
    Lot size
    7.47 lot acres
    Zone code
    PC
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    12-43-46-07-01-001-0204
    APU
    12434607010010204

    Description

    Lake Ida Plaza, a single-story, 79,242 square foot retail strip center and restaurant space in Delray Beach, Florida, offers exceptional opportunities for businesses seeking high-visibility locations. Built in 1980 and recently renovated, this 7.47-acre property boasts updated building facades, landscaping, lighting, and signage. The center is strategically located at 600 N Congress Ave, Delray Beach, FL 33445, providing excellent visibility and ample parking. Spaces range from a minimum of 1,050 square feet to a maximum contiguous space of 6,200 square feet, making it suitable for a variety of retail and restaurant concepts. The property serves a thriving, year-round population, with over 103,000 people residing within a three-mile radius and an average household income exceeding $74,000. This prime location offers competitive rates for qualified tenants. The property's multiple tenancy structure provides a diverse and vibrant shopping environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,555,000
      6.5%
      $11,590,000
      7%
      $10,760,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Delray Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0934
    Latitude
    26.4719
    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
    $260,199
    $4,734,562
    $7,396,558
    $12,131,120
    -
    $4,734,562
    $7,396,558
    $12,131,120

    Comparable in this City

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      1585 Congress Ave

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      MINI-MALL
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    • Value Estimation
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      13,435 SF

      1005 Congress Ave

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation by Request
      5,700 SF

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      SHOPPING CENTER, STRIP CENTER
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      3,043 SF commercial condo with warehouse, office, and showroom space.
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      4,738 SF

      Retail Space in Delray Beach

      Community shopping center with leasable space in established trade area.
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      Renovated Retail Building on Atlantic

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      Retail Space Near Luxury Apartments

      Retail space suitable for food and beverage operations for rent.
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      Move-in Ready Commercial Space

      Commercial space for rent with showroom and dock high loading.
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      Flex Showroom and Warehouse Space

      Flex showroom and warehouse space with high visibility and I-95 access.
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      View Details
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    Delray Beach, FL 33445-3464
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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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