Freestanding Office/Medical
1590 S Congress Avenue West Palm Beach, FL 33406
For Sale
$4,695,000
Remodeled 2019 freestanding office/medical building with fully fenced secure parking and electric gates.
Property Size8,989 SF
Price / SF$522.31
Days on Market101
Property Features for 1590 S Congress Avenue
General Information
- Standard status
- Active
- Size
- 8,989 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1989
Listing Agency:
MJI Realty Group LLC
(561) 859-1484
Listed By:
Marc Martinangelo
(561) 859-1484
Source:
Xome
Added: Apr 14
Changed: Jul 23
Last Checked: Jul 23 at 3:31AM
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 MJI Realty Group LLC
Investment Insights
Based on property information with market context.
Freestanding office/medical building offering approximately 8,989 SF on about 1.41 acres. The property was completely remodeled from the ground up in 2019 and is presented in a turnkey condition with updated systems and finishes. A flexible interior layout supports a range of medical and professional office uses, with practical, user-friendly configuration for day-to-day operations.
A standout attribute is the exceptionally large, private parking lot with 60+ on-site spaces, including 4 dedicated handicap spaces. Parking is fully fenced and secured with electric gates, with easy ingress/egress along a highly trafficked north-south corridor.
The property is positioned for visibility and convenient access within a dense residential and commercial trade area. It is located in a CG (General Commercial) zoning area, with access to major regional routes and proximity noted to West Palm Beach and Palm Beach International Airport (approximately 9 minutes).
A standout attribute is the exceptionally large, private parking lot with 60+ on-site spaces, including 4 dedicated handicap spaces. Parking is fully fenced and secured with electric gates, with easy ingress/egress along a highly trafficked north-south corridor.
The property is positioned for visibility and convenient access within a dense residential and commercial trade area. It is located in a CG (General Commercial) zoning area, with access to major regional routes and proximity noted to West Palm Beach and Palm Beach International Airport (approximately 9 minutes).
Key Highlights
- Freestanding office/medical building on South Congress Avenue with 8,989 SF on approximately 1.41 acres
- Completely remodeled from the ground up in 2019 with modern systems and updated finishes
- 60 on‑site parking spaces, including 4 dedicated handicap spaces, fully fenced and secured with electric gates
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 6.67%
Second Best
Healthcare Medical
$1.80M
$1.57M – $2.10M
NOI $125,720 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$6.33M
$5.54M – $7.39M
NOI $443,139 @ 7.0% cap · market cap 9.44%
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
Similar Off Market Nearby
- Broadwater Joshua DVM — 3421 Forest Hill Blvd, West Palm Beach, FL 33406
- Brignac Michele DVM — 3421 forest hill blvd, west palm beach, fl 33406
- Baker Veterinary Clinic — 1801 S Congress Ave, West Palm Beach, FL 33406
- Animal Cancer Care Clinic — 3421 Forest Hill Blvd, West Palm Beach, FL 33406
- Animal Allergy Skin & Ear Specialist — 3421 Forest Hill Blvd, West Palm Beach, FL 33406
FAQs
What type of property is this?
Medical Office Space - Remodeled 2019 freestanding office/medical building with fully fenced secure parking and electric gates.
Where is this medical office space located?
The property is located at 1590 S Congress Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $4,695,000.
What are key features of this property?
This property features: Freestanding office/medical building on South Congress Avenue with 8,989 SF on approximately 1.41 acres; Completely remodeled from the ground up in 2019 with modern systems and updated finishes; 60 on‑site parking spaces, including 4 dedicated handicap spaces, fully fenced and secured with electric gates
