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Property profile & analytics
OFF-MARKET
Estimated value
$4,575,000
Medical Office Space
3713 Congress Ave Palm Springs, FL 33461-3753
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4326198
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1954
Construction
CONCRETE
Total area
5,525 SF
Lot
0.63 ac (27,443 SF)
Zoning code
CG
APN
70-43-44-19-20-051-0070
UPID
US18-4326198
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.58M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$4.58M
Owner & transaction history
Iaff INC · 2 yrs held
Iaff INC
since 2024
Last sale
$4.6M
6 recorded transactions
Zoning & alternative use
CG · Palm Springs, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is the purpose of the CG commercial general land development district to provide lands within the village for a wide range of goods and commercial services that serve a consumer market that may extend beyond municipal limits. Such areas shall be located convenient to major roads and automotive traffic. However, it is not the intent of this land developmen…
Zone name
Commercial General
General category
COMMERCIAL
Zone area
601.31 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.2M
+41.3%
Apartment house (5+ units)
$3.3M
+10.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palm Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,575,000
ML approach
$4,575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,990,000
Current use
RESTAURANT
$4,225,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,290,000
Change: +10% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,845,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$4.58M
Range $4.12M – $5.03M · ±10% · vs last sale $4.58M (Apr 23 2024)
Last sale anchor
$4.58M
Apr 23 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$828 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,535
Tax year 2023
Assessed value
$1,486,384
Assessed 2023
Previous assessed
$1,486,384
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$423,830
Assessed improvement
$1,062,554
Land market value
$423,830
Improvement market value
$1,062,554
Total market value
$1,486,384
Applied tax rate
70,453.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1954
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
5,525 SF
Lot
0.63 ac (27,443 SF)
Zoning code
CG
APN
70-43-44-19-20-051-0070
UPID
US18-4326198
Jurisdiction
PALM BEACH
Metro division
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
CG · Palm Springs, FLZoning CG · permitted uses
CG · Palm Springs, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is the purpose of the CG commercial general land development district to provide lands within the village for a wide range of goods and commercial services that serve a consumer market that may extend beyond municipal limits. Such areas shall be located convenient to major roads and automotive traffic. However, it is not the intent of this land development district to necessarily create or promote an extension of strip commercial areas.
Zone name
Commercial General
General category
COMMERCIAL
Zone area
601.31 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.0M
RESTAURANT
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Iaff INC
Entity
Free & Clear · 2 yrs held
Mailing address
2328 S CONGRESS AVE STE 2C, WEST PALM BEACH, FL 33406-7674
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
$4,575,000
Iaff INC
Congress Medical Holdings LLC
Warranty Deed
—
Jul 6, 2016
—
Congress Medical Holdings LLC
—
Deed
related
$1,290,963 · Stonegate Bk
Apr 15, 2011
$3,100,000
Congress Medical Holdings LLC
Bsrh-lake Worth LLC
Warranty Deed
related
—
Oct 30, 2008
$887,830
Bsrh-lake Worth LLC
Rivann Associates LLC
Grant Deed
—
Oct 30, 2008
$1,462,170
Bsrh-lake Worth LLC
Bac Realty Corp
Grant Deed
$1,650,000 · Stonegate Bank
—
—
Congress Medical Holdings LLC
—
Loan Modification
related
$1,290,963 · Stonegate Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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