320-330 Congress Ave ,Industrial, Warehouse Space for Sale & Rent

320-330 Congress Ave for Sale & Rent

Price $4,800,000.00

• Lot size 87830
• Year Build 1982
• Waterfront
• Zip 33445
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Opportunity to purchase a small bay warehouse complex in Delray Beach, Fl. This property features two buildings of 11,100 SF each, for 22,200 SF of rentable space. The lot size is 87,830 SF zoned MIC - Mixed Industrial & Commercial, allowing a wide range of new development possibilities self storage, industrial, office, & affordable housing multifamily. It's 100% occupied by 8 tenants, w/ current rents well below market rate. Providing a rare value-add opportunity or covered land play for future development. Stabilizing the property at current market lease rates would generate an estimated gross income of $529,000 ($24/SF), & a net income of $384,960 ($17.34/SF). Most current tenants have short lease terms remaining. Phenomenal location w/ 260+ ft of direct frontage on N Congress Avenue.

CONGRESS AVE AUTO CENTER ALL OF PL & 18-46-43, N 7 FT OF S 1248 FT OF NE 1/4 LYG BET LWDD E-4 CNL

Opportunity to purchase a small bay warehouse complex in Delray Beach, Fl. This property features two buildings of 11,100 SF each, for 22,200 SF of rentable space. The lot size is 87,830 SF zoned MIC - Mixed Industrial & Commercial, allowing a wide range of new development possibilities self storage, industrial, office, & affordable housing multifamily. It's 100% occupied by 8 tenants, w/ current rents well below market rate. Providing a rare value-add opportunity or covered land play for future development. Stabilizing the property at current market lease rates would generate an estimated gross income of $529,000 ($24/SF), & a net income of $384,960 ($17.34/SF). Most current tenants have short lease terms remaining. Phenomenal location w/ 260+ ft of direct frontage on N Congress Avenue.

City:Delray Beach,Zoning:MIC,List A O R:A-Miami Association of REALTORS,Stories:1,Latitude:26.4672062,List Price:4800000,Listing Id:A11427828,Longitude:-80.094216,Mls Status:Active,Year Built:1982,Postal Code:33445,Street Name:Congress Ave,Coordinates:1:26.4672062,Photos Count:10,Lot Size Units:Square Feet,On Market Date:2023-07-31,Parcel Number:12434618230000010,Property Type:Commercial Sale,Stories Total:1,Street Number:320-330,Public Remarks:Opportunity to purchase a small bay warehouse complex in Delray Beach, Fl. This property features two buildings of 11,100 SF each, for 22,200 SF of rentable space. The lot size is 87,830 SF zoned MIC - Mixed Industrial & Commercial, allowing a wide range of new development possibilities self storage, industrial, office, & affordable housing multifamily. It's 100% occupied by 8 tenants, w/ current rents well below market rate. Providing a rare value-add opportunity or covered land play for future development. Stabilizing the property at current market lease rates would generate an estimated gross income of $529,000 ($24/SF), & a net income of $384,960 ($17.34/SF). Most current tenants have short lease terms remaining. Phenomenal location w/ 260+ ft of direct frontage on N Congress Avenue.,Structure Type:1:Free Standing,2:Warehouse,3:Industrial,County Or Parish:Palm Beach County,Expiration Date:2024-01-05,List Office Name:APEX Capital Realty LLC,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:3459,Property Sub Type:Industrial,State Or Province:FL,Street Dir Prefix:N,Tax Annual Amount:46880,Unparsed Address:320-330 N Congress Ave, Delray Beach FL 33445,Listing Agreement:Exclusive Agency,Building Area Total:22200,Building Area Units:Square Feet,Lot Size Square Feet:87830,M I A M I R E_ For Sale Y N:1,Number Of Buildings:2,Original List Price:4800000,Public Survey Range:12,Documents Available:1:Photos,I D X Participation Y N:1,Syndication Remarks:Opportunity to purchase a small bay warehouse complex in Delray Beach, Fl. This property features two buildings of 11,100 SF each, for 22,200 SF of rentable space. The lot size is 87,830 SF zoned MIC - Mixed Industrial & Commercial, allowing a wide range of new development possibilities self storage, industrial, office, & affordable housing multifamily. It's 100% occupied by 8 tenants, w/ current rents well below market rate. Providing a rare value-add opportunity or covered land play for future development. Stabilizing the property at current market lease rates would generate an estimated gross income of $529,000 ($24/SF), & a net income of $384,960 ($17.34/SF). Most current tenants have short lease terms remaining. Phenomenal location w/ 260+ ft of direct frontage on N Congress Avenue.,Listing Contract Date:2023-07-31,Originating System I D:miamire,Public Survey Section:18,Street Number Numeric:320,Tax Legal Description:CONGRESS AVE AUTO CENTER ALL OF PL & 18-46-43, N 7 FT OF S 1248 FT OF NE 1/4 LYG BET LWDD E-4 CNL,Public Survey Township:12,Originating System Name:Miami Association of REALTORS?,Contract Status Change Date:2023-07-31,Internet Address Display Y N:1,Dual Variable Compensation Y N:1,Transaction Broker Compensation:2%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,