Listing Agency: Keller Williams Realty Jupiter T***@gmail.com Show Phone

Listed By: William Kelly · License #3526822 Show Phone

Source: Exprealty

Added: May 7 Changed: Oct 6 Last Checked: Oct 7 at 5:11PM

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Investment Insights

Based on property information with market context.

This medical office suite provides a functional layout within approximately 4,200 SF, with existing infrastructure supporting immediate practice use. Optional furniture and therapy equipment are available, allowing the next owner to retain or adapt those components as needed.

The property is located at 301-5055 S Congress Ave in Lake Worth, Florida. Its medical-office configuration and existing improvements provide a defined setting for a practice seeking usable space without starting from an empty shell.

Key Highlights

• ±4, 200 SF medical office suite
• Existing infrastructure and functional layout
• Optional furniture and therapy equipment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$111,321

Cap Rate

4.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,226,420 $2.2M

Cap Rate 7%

$1,590,300 $1.6M

Cap Rate 9%

$1,236,900 $1.2M

Market Conditions

NOI Build-Up for 4,200 SF

Gross rent

$191.5K $45.60/SF

− Vacancy

−$43.1K −$10.26/SF

EGI

$148.4K $35.34/SF

− OpEx

−$37.1K −$8.84/SF

NOI

$111.3K $26.51/SF

Area

Palm Beach County, FL

Vacancy

22.50%

Lease Rate

$45.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,226,420

Cap Rate 7%

$1,590,300

Cap Rate 9%

$1,236,900

Alternative Uses

Best Use

Office B

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,321 @ 7.0% cap · market cap 4.84%

Second Best

Healthcare Medical

$790.6K

$691.7K – $922.3K (±1% cap)

NOI $55,339 @ 7.0% cap · market cap 2.41%

Theoretical Best

Office A

$2.96M

$2.59M – $3.45M (±1% cap)

NOI $207,051 @ 7.0% cap · market cap 9.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Catering Service Garden Center Gym & Fitness Center Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,235

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 33461, FL

47,161

Population

18,095

Households

2.6

Avg Household Size

36

Median Age

17%

College-Educated

75%

High-School Grad

7.1 sq mi

ZIP Area

6,642

Density / Sq Mi

$61,218

Median Household Income

$31,503

Median Earnings

$1,615

Median Rent

$263,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Functional practice space with existing infrastructure and optional furniture and therapy equipment.

Where is this medical office space located?

The property is located at 301-5055 S Congress Ave Lake Worth, FL.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: ±4, 200 SF medical office suite; Existing infrastructure and functional layout; Optional furniture and therapy equipment