1215 Wallace DrDelray Beach, FL 33444

Property Details for 1215 Wallace Dr

Year built

1983

Construction

CONCRETE

Lot size

1.80 AC

Property size (Sq ft)

18,400 SF

Zone code

LI

Property type

Office properties

Property subtype

Office buildings

APN

12-43-46-20-01-030-0040

APU

12434620010300040

Description

This exceptional 18,934-square-foot flex building in Delray Beach, Florida, presents a unique owner-user or investment opportunity. Located on a 1.8-acre lot at 1215 Wallace Dr, this single-story, Class B property boasts 94 parking spaces—an impressive 5 per 1,000 square feet—and secure gated access. Built in 1983 and extensively renovated in 2007, the building features upgraded restrooms, electrical systems, and HVAC units. Currently vacant, this flex space is ideally suited for various uses, including call centers, light assembly, fitness facilities, wholesale, distribution, or professional offices. The property's LI zoning allows for a wide range of possibilities. Situated in the highly desirable East Delray Beach market, just off I-95 between Linton Boulevard and Atlantic Avenue, this asset benefits from strong demographics and low vacancy rates. The asking price is $6,250,000, translating to $330.09 per square foot. This is a fee-simple ownership opportunity within a designated Opportunity Zone. The property's exceptional condition and prime location make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $5,659,168

  6.5%

  $5,223,848

  7%

  $4,850,716

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,929,728

  Geo Method

  $4,929,728

• Alternative Use

  Use

  Valuation

  Residential

  $6,477,571

  Hospitality

  $5,933,420

  Educational

  $4,936,536

  Medical

  $5,106,311

  Retail

  $7,679,056

Location Insight

City

Delray Beach

County

Palm Beach

State

Florida

Latitude

26.4436

Longitude

-80.0839

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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