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    Freestanding Two-Story Office Building Title is generated by Realmo AI

    1300 Old Congress Avenue, West Palm Beach, FL 33409

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    For Lease
    $40 SF/Yr $17,483/Mo (calc)

    COMMERCIAL - West Palm Beach, FL

    Type:Office
    Property size:
    5,245 SF
    Lot size:
    0.24 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    37
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 1300 Old Congress Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    MUPD
    Parking
    20
    Parking features
    Offsite, Assigned
    Standard status
    Active
    APN
    00434329200000030
    Size
    5,245 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CONGRESS BUSINESS CENTER MUPD LT 3
    Tax Annual Amount
    15251

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    2
    Number of units
    4
    Building materials
    Concrete

    We can help!

    Listing Contact
    Troy Maleyko

    Listing agent Troy Maleyko License #3583569

    Listing office Illustrated Properties LLC (Co 2725 PGA Blvd., Palm Beach Gardens, FL

    Listing date Apr 28, 2026

    MLS# B26021089

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5,245 SF freestanding, two‑story office building built in 1987
    • Central heating and central air conditioning
    • Public water and public sewer
    • 20 offsite assigned parking spaces
    • 100% occupancy
    • Convenient access to I‑95, PBIA, Belvedere Rd, and Downtown West Palm Beach

    Overview

    A rare freestanding two-story office building totaling 5,245 square feet, positioned for strong street presence along the Congress Avenue corridor. The property is currently 100% occupied and includes 20 parking spaces, supporting everyday accessibility for employees and visitors.

    The building benefits from convenient regional access, with proximity to I-95, PBIA, Belvedere Rd, and Downtown West Palm Beach. It also sits directly across from the planned Westgate Village redevelopment (formerly the Palm Beach Kennel Club), which is expected to bring residential, retail/commercial, infrastructure, and streetscape improvements to the immediate area.

    For tenants, buyers, or operators seeking a stand-alone office option, this configuration can be attractive for teams that value visibility and on-site parking rather than relying on shared setups. With its current occupancy and its location within a growing westward employment corridor, the asset offers stable performance today while remaining positioned to benefit from ongoing redevelopment momentum around Congress Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.08597
    Latitude
    26.696291

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    FAQs

    What type of property is this?
    Office building - Two-story office with strong visibility and 20 parking spaces on Congress Avenue corridor, offering convenient I-95 access.
    Where is this office building located?
    The property is located at 1300 Old Congress Avenue West Palm Beach, FL.
    What is the lease rate?
    The lease rate is $40 SF/Yr.
    What are key features of this property?
    This property features: 5,245 SF freestanding, two‑story office building built in 1987; Central heating and central air conditioning; Public water and public sewer
    (561) 831-8202
    We can help!
    Listing Contact
    Troy Maleyko
    Real Estate License ID: 3583569
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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