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    Property profile & analytics

    1651 Congress Ave Lake Worth, FL 33461

    • Medical Office Space
    • 8,602 SF
    • 0.94 lot acres
    OFF-MARKET
    Value Estimations
    $1,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3733195
    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.

    Current Use by Public Records

    • Medical Office Space

    Property Details for 1651 Congress Ave

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    0.94 lot acres
    Property size
    8,602 SF
    Zone code
    CG
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    70-43-44-07-36-002-0000
    APU
    70434407360020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,890,000
      6.5%
      $1,745,000
      7%
      $1,620,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,107,000
      Market price range: $464k - $2.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0886
    Latitude
    26.6525
    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
    $32,587
    $571,326
    $981,819
    $1,553,145
    -
    $571,326
    $981,819
    $1,553,145

    Comparable in this City

    • Value Estimation
      $6,580,000
      35,588 SF

      4801 Congress Ave

      MEDICAL BUILDING • 35,588 SF
      4801 Congress Ave, Palm Springs, FL 33461-4746
      View Details
    • Value Estimation
      $4,575,000
      9,075 SF

      3711 Congress Ave

      MEDICAL BUILDING • 9,075 SF
      3711 Congress Ave, Palm Springs, FL 33461-3753
      View Details
    • Value Estimation
      $2,730,000
      10,759 SF

      3580 Lk Worth Rd

      MEDICAL BUILDING • 10,759 SF
      3580 Lk Worth Rd, Palm Springs, FL 33461-4029
      View Details
    • Value Estimation
      $720,000
      3,737 SF

      3144 Congress Ave

      MEDICAL BUILDING • 3,737 SF
      3144 Congress Ave, Palm Springs, FL 33461-2552
      View Details
    • Value Estimation
      $2,800,000
      5,994 SF

      1650 Congress Ave Ste A

      MEDICAL BUILDING • 5,994 SF
      1650 Congress Ave Ste A, Palm Springs, FL 33461-2175
      View Details
    • Value Estimation
      $2,530,000
      9,672 SF

      4889 Congress Ave, Unit 100

      MEDICAL BUILDING • 9,672 SF
      4889 Congress Ave, Palm Springs, FL 33461-4762
      View Details

    Similar Nearby for Sale

    • $300,000
      Pending

      Palm Springs Corner Office Condo

      Corner office condo in Palm Springs commercial complex for sale.
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    • Contact for pricing

      4889 S Congress Avenue, Lake Worth, FL 33461

      Medical Office Space
      4889 S Congress Ave, Lake Worth, FL 33461
      View Details
    • $299,800
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      Palm Springs Commercial Condo Suite

      Main-level commercial condo with flexible layout and dedicated rear entrance.
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    • $1,025,000
      1,250 SF

      Lake Worth Road Office Building

      Prime Lake Worth Beach Office, 1250 SF
      2935 Lk Worth Rd, Lake Worth Beach, FL 33461
      View Details
    • $1,500,000
      2,250 SF

      Palm Springs Commercial Corner Lot

      Corner lot with building, showroom, and storage in Palm Springs.
      3109 2Nd Ave N, Lake Worth, FL 33461
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    • Contact for pricing
      1.00 Acre

      Lake Worth Commercial Office Space

      Commercial office space available for sale in Lake Worth, Florida.
      3731 Lake Worth Rd, Lake Worth, FL 33461
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      1,520 SF

      Palm Springs Medical Office Space

      Ready-to-occupy medical office space in Palm Springs, Florida.
      2889 10Th Ave N, Lake Worth, FL 33461
      View Details
    • $4,500 /Mo
      43,560 SF

      Palm Springs Office Space Available

      Commercial office space for rent in Palm Springs, Florida.
      3731 Lake Worth Rd, Lake Worth, FL 33461
      View Details
    • Contact for pricing
      2,033 SF

      Professional Office Space Available

      Office space for rent with flexible layout options.
      2290 10Th Ave N, Lake Worth, FL 33461
      View Details
    • Contact for pricing
      2,065 SF

      Professional Office Space Available

      2065 SF office suite for rent.
      2328 10Th Ave N, Lake Worth, FL 33461
      View Details
    • $15 SF/Yr
      20,000 SF

      Lake Worth Warehouse Space Available

      Flexible warehouse space, 5,000-15,000 sq ft
      1815 10 Ave, Lake Worth Beach, FL 33461
      View Details
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    1651 Congress Ave
    Lake Worth, FL 33461
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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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