1215 Wallace Dr
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1215 Wallace Dr
18,934 SF 100% Leased Office Building Delray Beach, FL 33444 $6,250,000 ($330/SF)
Investment Highlights
- Premiere Single Story Office/Flex Property in Highly Desirable East Delray Beach Market
- Exceptionally Maintained Asset with Secure Gated Parking and Extremely High Parking Ratio of almost 5/1,000
- Located Just off I-95 and between Linton Boulevard and Atlantic Avenue.
- Significant recent improvements, including new restrooms, interior modernization, electrical upgrades, and A/C units
- Designated Opportunity Zone in the Heart of Delray Beach
- Current Zoning Allows Variety of Uses Including: call center, light assembly, personal fitness, wholesale, distribution, and professional office.
Executive Summary
CBRE Inc., as the exclusive advisor, presents “1215 Wallace Dr.” – a single tenant flex/office building located at 1215 Wallace Drive in Delray Beach, Florida. The property offers approximately 18,934 SF of rentable space on 1.80 acres of Opportunity Zoned land in the highly sought-after East Delray Beach market. Originally built in 1983, the property underwent significant
renovations in 2007, including upgrades to restrooms, electrical systems, and HVAC units. The current occupant will vacate early, presenting an opportunity for a new owner or tenant to capitalize on the market’s low vacancy rates.
With secure gated access, ample parking (94 spaces), and zoning for office and light industrial use, 1215 Wallace Drive is suitable for various purposes such as call centers, light assembly, fitness facilities, wholesale, distribution,
or professional offices. This offering presents a unique chance for an owner user or investor to acquire a well-maintained building in a prime location with strong demographics.
renovations in 2007, including upgrades to restrooms, electrical systems, and HVAC units. The current occupant will vacate early, presenting an opportunity for a new owner or tenant to capitalize on the market’s low vacancy rates.
With secure gated access, ample parking (94 spaces), and zoning for office and light industrial use, 1215 Wallace Drive is suitable for various purposes such as call centers, light assembly, fitness facilities, wholesale, distribution,
or professional offices. This offering presents a unique chance for an owner user or investor to acquire a well-maintained building in a prime location with strong demographics.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Building Size
18,934 SF
Building Class
C
Year Built/Renovated
1990/2005
Price
$6,250,000
Price Per SF
$330
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
18,934 SF
Building FAR
0.24
Lot Size
1.80 AC
Opportunity Zone
Yes
Zoning
LI, County - Light Industrial
Parking
95 Spaces (5.02 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
- Security System
- Signage
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PROPERTY TAXES
| Parcel Number | 12-43-46-20-01-030-0040 | Improvements Assessment | $1,998,950 |
| Land Assessment | $1,726,274 | Total Assessment | $3,093,696 |
PROPERTY TAXES
Parcel Number
12-43-46-20-01-030-0040
Land Assessment
$1,726,274
Improvements Assessment
$1,998,950
Total Assessment
$3,093,696
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1215 Wallace Dr
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