Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land For Sale Title is generated by Realmo AI

    4203 S Congress Ave, Palm Springs, FL 33461

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    1.14-acre commercial land with high visibility and development potential.

    Type:Land
    Lot size:
    1.14 Acres
    Added:
    Sep 12, 2024
    Days on Market:
    630
    Last Refresh:
    May 12 at 10:04 pm

    Property Features for 4203 S Congress Ave

    General Information

    Standard status
    Active
    Lot size
    1.14 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Marcelino Gomes

    Listing agent Marcelino Gomes

    Listing office Black Diamond Realty

    Listing date Sep 12, 2024

    Source Crexi

    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 Black Diamond Realty

    HighLights

    • High traffic location: Benefit from 45,000 cars daily on Congress Avenue.
    • Prime commercial zoning: Zoned Commercial General in Palm Springs, offering versatile possibilities.
    • Strategic location: Directly across from Palm Beach State College (34,499 students).
    • High visibility: Rectangular lot with great visibility.
    • Proximity to medical facilities: Conveniently located 0.5 miles from JFK Hospital.
    • Development options: Possible owner finance, ground lease, or build‑to‑suit.

    Overview

    This 1.1431-acre rectangular lot, zoned Commercial General, is located directly south of a Racetrac gas station at the southwest corner of Lake Worth Road and Congress Avenue. The property benefits from high visibility and a daily car count of 45,000 on Congress Avenue. It is situated directly across the street from Palm Beach State College, which covers 114 acres and has 34,499 students. JFK Hospital and related medical facilities are located 0.5 miles away on the same side of the road. The area features a mix of apartments and businesses, and both Lake Worth and Palm Springs are experiencing significant growth. Nearby draw factors include Lantana Airport, Tri Rail train station, John Prince Park, Lake Osbourne, the City of Atlantis, Lost Tree Golf Club, Lake Worth High School, and the Palm Beach County YMCA. The property is elevated and dry. Possible owner financing, ground lease, and build-to-suit options will be considered. The property is suitable for commercial development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Palm Springs
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0918
    Latitude
    26.6205

    Nearby Similar for Sale

    • $1,099,000
      2,180 SF

      Free Standing Commercial Retail Building

      2,180 SF commercial building on 0.42 acres for sale.
      3482 S Congress Avenue, Palm Springs, FL 33461
      View Details
    • $8,000,000

      Palm Springs Commercial Land Parcel

      8.7-acre commercial land parcel in high-traffic Palm Springs, Florida.
      4411 Forest Hill Blvd, Palm Springs, FL 33406
      View Details
    • $465,000
      1,232 SF

      Updated Duplex in Palm Springs

      Fully updated duplex with rental potential in Palm Springs, FL.
      3914 Serubi Avenue, Palm Springs, FL 33461
      View Details
    • $2,300,000

      Commercial Land in Palm Springs

      Two-parcel commercial assemblage with leased restaurant and vacant building.
      3801 N 10th Ave N, Palm Springs, FL 33461
      View Details
    • $1,500,000
      2,250 SF

      Palm Springs Mixed-Use Corner Lot

      Corner lot with commercial and residential zoning in Palm Springs.
      3109 2nd Avenue N, Palm Springs, FL 33461
      View Details
    • $749,900
      2,410 SF

      Palm Springs Multifamily Property

      Multifamily property in Palm Springs, move-in ready with rental potential.
      296 Alemeda Drive, Palm Springs, FL 33461
      View Details
    • $149,000
      2,000 SF

      Established Convenience Store in Palm Springs

      Profitable convenience store in high-traffic Palm Springs location.
      1946 S Congress Ave, Palm Springs, FL 33406
      View Details
    • $1,800,000

      Palm Springs Car Repair Shop

      Car repair shop with fenced perimeter in central Palm Springs.
      3750 N 10th Ave N, Palm Springs, FL 33461
      View Details
    • $1,300,000

      South Florida Multifamily Investment Opportunity

      Well-maintained 6-unit property with income and value-add potential.
      3063 Floweva St, Palm Springs, FL 33406
      View Details
    • $1,250,000

      Prime Commercial Property on Forest

      High-visibility commercial property on busy Forest Hill Blvd.
      2841 Forest Hill Blvd, Palm Springs, FL 33406
      View Details
    • $5,334,783
      12,739 SF

      CVS NN Drugstore For Sale

      12,739 SF CVS NN Drugstore with 13+ years remaining.
      3187 S Congress Ave, Palm Springs, FL
      View Details
    • $950,000
      1,250 SF

      Lake Worth Commercial Opportunity

      Commercial property with live/work potential on Lake Worth Road.
      2935 Lake Worth Road, Lake Worth Beach, FL 33461
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.14-acre commercial land with high visibility and development potential.
    Where is this commercial land located?
    The property is located at 4203 S Congress Ave Palm Springs, FL.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: High traffic location: Benefit from 45,000 cars daily on Congress Avenue.; Prime commercial zoning: Zoned Commercial General in Palm Springs, offering versatile possibilities.; Strategic location: Directly across from Palm Beach State College (34,499 students).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Marcelino Gomes
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4203 S Congress Ave, Palm Springs, FL 33461
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!