Turnkey Medical Office
For Sale
$2,300,000
5055 S Congress Avenue, Atlantis, FL
SINGLE_FAMILY - Atlantis, FL
Property Size4,204 SF
Lot Size1.00 Acre
Price / SF$547.10
Days on Market98
Property Features for 5055 S Congress Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
CO (city)
Parking
50
Subdivision
5700
Standard status
Active
APN
02434430190000031
Size
4,204 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
CONGRESS MEDICAL CENTER CONDOMINIUM UNIT 3A IN COND AMEND OR15451P396
Tax Annual Amount
19415
Legal Description
CONGRESS MEDICAL CENTER CONDOMINIUM UNIT 3A IN COND AMEND OR15451P396
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Block
Roof type
Tile, Flat
Listing Agency:
Keller Williams Realty Jupiter
(561) 427-6100
Listed By:
William Kelly · License #3526822
(561) 906-2106
Added: May 7
Changed: Aug 11
Last Checked: Aug 12 at 6:06PM
MLS# B26025427
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.
Investment Insights
Based on property information with market context.
Turnkey medical office suite with an expansion opportunity, designed for immediate usability and future growth. The suite offers a functional layout and existing infrastructure, with optional furniture and therapy equipment available for an easier start. The space is approximately 4,204 SF and is finished with carpet and tile floors. Constructed with block materials, the building has central heating and central air conditioning, and features a tile and flat roof.
The property is situated on a 1-acre lot and serviced by public water and public sewer. It was built in 2003 and is zoned CO (city).
A strong fit for providers seeking a workable, medically oriented space that can be used now while leaving room to evolve as needs change.
The property is situated on a 1-acre lot and serviced by public water and public sewer. It was built in 2003 and is zoned CO (city).
A strong fit for providers seeking a workable, medically oriented space that can be used now while leaving room to evolve as needs change.
Key Highlights
- Approximately 4,204 SF medical office suite with existing infrastructure
- Turnkey setup with optional furniture and therapy equipment
- 1‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,427
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,228,540
$2.2M
Cap Rate 7%
$1,591,814
$1.6M
Cap Rate 9%
$1,238,078
$1.2M
Market Conditions
NOI Build-Up for 4,204 SF
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.
Gross rent
$191.7K $45.60/SF
− Vacancy
−$43.1K −$10.26/SF
EGI
$148.6K $35.34/SF
− OpEx
−$37.1K −$8.84/SF
NOI
$111.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,228,540
Cap Rate 7%
$1,591,814
Cap Rate 9%
$1,238,078
Alternative Uses
Best Use
Office B
$1.59M
$1.39M – $1.86M
NOI $111,427 @ 7.0% cap · market cap 4.84%
Second Best
Healthcare Medical
$791.3K
$692.4K – $923.2K
NOI $55,392 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$2.96M
$2.59M – $3.45M
NOI $207,248 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office suite on a 1-acre lot with central HVAC, public water and sewer, and an expansion opportunity.
Where is this medical office space located?
The property is located at 5055 S Congress Avenue Atlantis, 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: Approximately 4,204 SF medical office suite with existing infrastructure; Turnkey setup with optional furniture and therapy equipment; 1‑acre lot
