22
Map
501 Lake Drive
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 19, 2026 | Listed by Premier Estate Properties, Inc | $3,895,000 | |
| Listed by Premier Estate Properties, Inc | |||
| Aug 13, 2024 | Sold | ||
| Sold | |||
| Jul 11, 2024 | Listed by RE/MAX Direct | $1,150,000 | |
| Listed by RE/MAX Direct | |||
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Seize the opportunity to renovate, build new, or develop an investment property on this expansive 9,375 square foot lot, ideally situated in the coveted Lake Ida neighborhood of Delray Beach. This prime piece of real estate offers the perfect chance to immerse yourself in one of Delray's most prestigious areas, just blocks from the vibrant Atlantic Avenue. Lake Ida is a rapidly growing community, with a surge of new construction projects enhancing its appeal. Newly built homes in the vicinity are commanding prices well over $3 million, underscoring the potential for substantial returns on investment. The property benefits from proximity to numerous local builders, making the development process seamless. Enjoy easy access to an array of area attractions, including fine dining, shopping, entertainment, the renowned Delray Tennis Center, and the pristine beaches that define this Floridian paradise. Whether you envision constructing your dream home or a lucrative investment property, this lot offers the ideal canvas. Embrace the opportunity to join a flourishing community and indulge in the quintessential Delray Beach lifestyle.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017