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    1601 Congress Ave West Palm Beach, FL 33409-5152
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    Property profile & analytics

    1601 Congress Ave, West Palm Beach, FL 33409-5152

    View on Map
    • Outlet malls
    • 7,458 SF
    • 1.66 lot acres
    Off-Market
    Property ID
    US18-5126866
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,475,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aldrich Tool Rental / (Bike/Boat/Book/etc) Store / Rental Equipment Company

    Property Details for 1601 Congress Ave

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    1.66 lot acres
    Zone code
    CG
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    00-43-43-30-12-000-0210
    APU
    434330120000210

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 10, 2025 $3,477,000 1601 Cec Hodlings LLC 1604 North Congress LLC Warranty Deed $2.9M · Velocitysba LLC
    Feb 5, 2025 — 1601 Cec Holdings LLC — Deed · related $270k · 1601 North Congress LLC
    Jan 19, 2021 $4,185,000 1645 Congress LLC Ssab Florida Co LLC Grant Deed —
    Jun 20, 2018 — 1601 North Conress LLC Aldrich Tool Rental INC Grant Deed · related —
    Jun 4, 2018 $512,102 1601 North Congress LLC Aldrich Tool Rental INC Warranty Deed $512k · Bankunited Fsb
    Sep 27, 1999 $130,000 Aldrich Tool Rental INC Shafer,beverly A Grant Deed —
    — — Aldrich Tool Rental INC — Deed Of Trust · related $420k · Suntrust Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,755,000
      6.5%
      $1,620,000
      7%
      $1,505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,069,000
      Market price range: $600k - $1.93M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0872
    Latitude
    26.7002
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,301
    $795,417
    $634,611
    $1,430,028
    -
    $795,417
    $634,611
    $1,430,028

    Comparable in this City

    • Value Estimation
      $3,955,000
      27,200 SF

      2223 Palm Bch Lks Blvd

      WHOLESALE OUTLET, DISCOUNT STORE
      2223 Palm Bch Lks Blvd, West Palm Beach, FL 33409-3401
      View Details
    • Value Estimation
      $10,075,000
      23,649 SF

      1930 Military Trl

      WHOLESALE OUTLET, DISCOUNT STORE
      1930 Military Trl, West Palm Beach, FL 33409-4718
      View Details
    • Value Estimation
      $1,545,000
      2,626 SF

      2461 Military Trl

      WHOLESALE OUTLET, DISCOUNT STORE
      2461 Military Trl, West Palm Beach, FL 33409
      View Details
    • Value Estimation
      $8,410,000
      29,820 SF

      1230 Military Trl

      WHOLESALE OUTLET, DISCOUNT STORE
      1230 Military Trl, West Palm Beach, FL 33409-6015
      View Details
    • Value Estimation
      $1,365,000
      6,460 SF

      1880 Okeechobee Blvd

      SHOPPING CENTER, STRIP CENTER
      1880 Okeechobee Blvd, West Palm Beach, FL 33409-4123
      View Details
    • Value Estimation
      $1,075,000
      5,440 SF

      2700 Okeechobee Blvd

      SHOPPING CENTER, STRIP CENTER
      2700 Okeechobee Blvd, West Palm Beach, FL 33409-4010
      View Details

    Similar Nearby for Sale

    • $2,299,000
      9,096 SF

      West Palm Beach Retail Plaza

      Fully leased commercial retail plaza in West Palm Beach.
      1225 N Military Trl, West Palm Beach, FL 33409
      View Details
    • Contact for pricing

      Retail Property with Open Floorplan

      Retail property featuring an open floor plan and ample parking.
      West Palm Beach, FL 33409
      View Details
    • Contact for pricing
      43,125 SF

      West Palm Beach Auto Center

      Fully occupied automotive and industrial property on 4.2 acres.
      2348-2360 N Military Trl, West Palm Beach, FL 33409
      View Details
    • $295,000
      3,500 SF

      Profitable Auto Repair Shop

      Turnkey automotive repair shop with established revenue in West Palm.
      2702 Rockey Dr, West Palm Beach, FL 33409
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,132 SF

      Grocery-Anchored Shopping Center Space

      Retail space available in West Palm Beach shopping center.
      771-931 Village Blvd, West Palm Beach, FL 33409
      View Details
    • Contact for pricing
      1,760 SF

      Grocery-Anchored Retail Space Available

      Retail space in high-traffic, grocery-anchored shopping center for lease.
      711-731 Village Blvd, West Palm Beach, FL 33409
      View Details
    • Contact for pricing
      7,200 SF

      Retail Space in Busy Center

      Retail space available in a high-traffic shopping center.
      1870 N Military Trl, West Palm Beach, FL 33409
      View Details
    • Contact for pricing

      West Palm Beach Retail Space

      Retail space with high ceilings, ample parking, and national co-tenancy.
      1722 N Military Trl, West Palm Beach, FL 33409
      View Details
    • Contact for pricing
      3,960 SF

      Retail Space in West Palm Beach

      3960 SF retail space available for lease.
      2040 Indian Rd, West Palm Beach, FL 33409
      View Details
    • Contact for pricing
      5,661 SF

      Retail Space on Okeechobee Boulevard

      Retail space for lease at a signalized intersection.
      4449 Okeechobee Blvd, West Palm Beach, FL 33409
      View Details
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    West Palm Beach, FL 33409-5152
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    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
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