Freestanding Office/Medical
1590 S Congress Ave West Palm Beach, FL 33406
1590 S Congress Ave, West Palm Beach, FL, 33406
$4,950,000
For Sale
$4,950,000
Remodeled 2019 freestanding office/medical building with fenced 60+ space parking and flexible interior layout.
Property Size8,989 SF
Lot Size1.41 Acres
Price / SF$550.67
Days on Market89
Property Features for 1590 S Congress Ave
General Information
- Standard status
- Active
- Size
- 8,989 SF
- Lot size
- 1.41 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1989
Listing agency
(561) 859-1484
Listed by
Marc Martinangelo
(561) 859-1484
Source
Elliman
Added: Apr 24 Updated: Jul 20 at 6:45PM Checked: Jul 20 at 6:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marc Martinangelo
Investment Insights
Based on property information with market context.
Freestanding office/medical building offering 8,989 SF on approximately 1.41 acres, zoned CG (General Commercial). The property was completely remodeled from the ground up in 2019 and presents a turnkey interior with updated systems and finishes, supported by a flexible layout suitable for medical, professional office, or owner-user use.
A standout feature is the exceptionally large, private parking lot with 60+ on-site spaces, including 4 dedicated handicap spaces. The parking area is fully fenced and secured with electric gates, providing high-capacity, controlled access. Located on South Congress Avenue in Palm Springs, the property offers strong frontage, visibility, and easy ingress/egress along a major north-south corridor. It sits within a dense residential and commercial trade area, approximately 9 minutes from Palm Beach International Airport, and near I-95, major hospitals, and key retail corridors.
A standout feature is the exceptionally large, private parking lot with 60+ on-site spaces, including 4 dedicated handicap spaces. The parking area is fully fenced and secured with electric gates, providing high-capacity, controlled access. Located on South Congress Avenue in Palm Springs, the property offers strong frontage, visibility, and easy ingress/egress along a major north-south corridor. It sits within a dense residential and commercial trade area, approximately 9 minutes from Palm Beach International Airport, and near I-95, major hospitals, and key retail corridors.
Key Highlights
- Freestanding office/medical building built in 1989, offering 8,989 SF on approx. 1.41 acres
- CG (General Commercial) zoning
- 2019 remodel from the ground up with modern systems and updated finishes
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $496.2k | $55.20 |
| − Vacancy | −$78.4k | −$8.72 |
| EGI | $417.8k | $46.48 |
| − OpEx | −$104.4k | −$11.62 |
| NOI | $313.3k | $34.86 |
8,989 SF · lease $55.20/SF/yr · vacancy 15.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.48M
$3.92M – $5.22M
NOI $313,346 @ 7.0% cap · market cap 6.33%
Second Best
Healthcare Medical
$1.80M
$1.57M – $2.10M
NOI $125,720 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$6.33M
$5.54M – $7.39M
NOI $443,139 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
MCCI Medical Center
Physician
Dr. Idalmis Teran-Gonzalez, ...
Physician
Dr. Rosa Romigosa, ...
Physician
Royal Life Centers
Corporate Office
Ian A. Campbell, RPh
Pharmacy
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- Animal Cancer Care Clinic — 3421 Forest Hill Blvd, West Palm Beach, FL 33406
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FAQs
What type of property is this?
Medical Office Space - Remodeled 2019 freestanding office/medical building with fenced 60+ space parking and flexible interior layout.
Where is this medical office space located?
The property is located at 1590 S Congress Ave West Palm Beach, FL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Freestanding office/medical building built in 1989, offering 8,989 SF on approx. 1.41 acres; CG (General Commercial) zoning; 2019 remodel from the ground up with modern systems and updated finishes
