220 Congress Park DrDelray Beach, FL 33445

Property Details for 220 Congress Park Dr

Year built

1984

Construction

CONCRETE

Lot size

3.81 AC

Property size (Sq ft)

57,530 SF

Zone code

MROC

Property type

Office properties

Property subtype

Office buildings

APN

12-43-46-18-55-005-0000

APU

12434618550050000

Description

Exceptional sublease opportunity in a prestigious East Delray Beach, Class A office building, just blocks from I-95. This single-tenant, 57,530 sq ft building offers several private office suites available for immediate occupancy. Six uniquely sized offices are available for sublease, ideal for professionals such as attorneys, counselors, or other similar businesses. Several offices boast large windows overlooking a tranquil lake and garden area with outdoor seating. Some suites include existing desks and filing cabinets. The building provides an all-inclusive experience with amenities such as a spacious conference room, comfortable indoor lobby, kitchen, large lounge area with seating, and a dedicated meditation room. Office sizes range from 100 sq ft to 140 sq ft, with monthly rental rates ranging from $1,400 to $1,900. Specific office sizes and rental rates are as follows: two 100 sq ft offices at $1,400/month each; one 120 sq ft office at $1,575/month; two 108 sq ft offices at $1,509/month each; and one 140 sq ft office at $1,900/month. The sublease includes all utilities except property taxes, which are billed separately. The property's APN is 12434618550050000 and is zoned MROC(c). This is a single-tenant occupancy in a building with one suite.

• CAP approach

  CAP return

  Valuation

  6%

  $17,694,128

  6.5%

  $16,333,040

  7%

  $15,166,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,413,438

  Geo Method

  $15,413,438

• Alternative Use

  Use

  Valuation

  Residential

  $20,252,970

  Hospitality

  $18,551,612

  Educational

  $15,434,723

  Medical

  $15,965,547

  Retail

  $24,009,570

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4569

Longitude

-80.0944

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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