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    4601 Congress Ave West Palm Beach, FL 33407-3381

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    4601 Congress Ave West Palm Beach, FL 33407-3381

    View on Map
    • Medical Office Space
    • 25,352 SF
    • 1.18 lot acres
    Off-Market
    Last Sale Sep 3, 2021
    $6,300,000
    Property ID
    US18-6337986
    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
    $6,605,000
    Show details
    Cap Rate Potential
    4.3%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • TierOne Compression / Production Facility / Factory
    • Caroline M. Martinez, PharmD / Pharmacy
    • Minerva Ellis / Physician
    • Access Medical Labrotories / Medical Laboratory
    • Neeraj Julka, MD / Physician

    Property Details for 4601 Congress Ave

    Year built
    1992
    Construction
    CONCRETE
    Lot size
    1.18 lot acres
    Property size
    25,352 SF
    Zone code
    CSPD
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    74-43-43-06-19-002-0000
    APU
    74434306190020000

    Description

    This exceptional medical office building, located at 4601 N Congress Avenue in West Palm Beach, Florida, offers ±24,820 square feet of prime space. Currently, there are multiple suites available, ranging from a minimum of 1,104 square feet to a maximum contiguous space of 2,888 square feet. A total of 7,142 square feet is currently vacant and ready for immediate occupancy. The building is situated on the campus of JFK Hospital North Campus, providing a highly desirable location for medical professionals. Its strategic placement, just one block east of I-95 and near the intersection of 45th Street and Congress Avenue, ensures easy access and high visibility. This West Palm Beach property boasts a convenient location, placing it within minutes of a wide array of shopping, dining, banking, and lodging amenities. The building's address is 4601 N Congress Ave, West Palm Beach, FL 33407, in Palm Beach County. This is a multi-tenant property offering flexible space options to suit various medical practices. The building's prime location and proximity to JFK Hospital North Campus make it an ideal investment opportunity for medical professionals seeking a thriving and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,305,000
      ML approach
      $8,825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,910,000
      6.5%
      $5,455,000
      7%
      $5,065,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,452,000
      Market price range: $1.31M - $11.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0875
    Latitude
    26.7595
    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
    $117,863
    $1,625,432
    $3,704,132
    $5,329,564
    -
    $1,625,432
    $3,704,132
    $5,329,564

    Comparable in this City

    • Value Estimation
      $885,000
      4,565 SF

      100 Northpoint Pkwy

      MEDICAL BUILDING • 4,565 SF
      100 Northpoint Pkwy, West Palm Beach, FL 33407-1906
      View Details
    • Value Estimation
      $3,740,000
      2,939 SF

      1911 Flagler Dr

      MEDICAL BUILDING • 2,939 SF
      1911 Flagler Dr, West Palm Beach, FL 33407-6111
      View Details
    • Value Estimation by Request
      24,318 SF

      200 Butler St

      MEDICAL BUILDING • 24,318 SF
      200 Butler St, West Palm Beach, FL 33407-6036
      View Details
    • Value Estimation
      $6,960,000
      30,880 SF

      4631 Congress Ave

      MEDICAL BUILDING • 30,880 SF
      4631 Congress Ave, West Palm Beach, FL 33407-3209
      View Details
    • Value Estimation
      $1,270,000
      4,445 SF

      2945 Australian Ave

      MEDICAL BUILDING • 4,445 SF
      2945 Australian Ave, West Palm Beach, FL 33407-4522
      View Details
    • Value Estimation
      $3,850,000
      6,036 SF

      4461 Medical Ctr Way

      MEDICAL BUILDING • 6,036 SF
      4461 Medical Ctr Way, West Palm Beach, FL 33407-3280
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Near JFK Medical

      Medical office space in well-maintained building near JFK Medical.
      4700 N Congress Ave, West Palm Beach, FL 33407
      View Details
    • Contact for pricing

      West Palm Beach Office Space

      Two-story office building in Northpoint Corporate Park for lease.
      5500 Village Blvd, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      3,097 SF

      West Palm Beach Medical Center

      Medical office space for lease near JFK Medical Center.
      2051 45Th St, West Palm Beach, FL 33407
      View Details
    • $32 SF/Yr

      Turnkey Medical Space in Pavilion

      4,600 SF medical space on St. Mary's campus.
      5205 Greenwood Ave, West Palm Beach, FL 33407
      View Details
    • $20 SF/Yr
      5,228 SF

      Medical Office Space Available

      5,228 SF fully built-out medical office space for lease.
      801 Northpoint Pkwy, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      2,244 SF

      Office Space in Metrocentre Park

      Single-story office building with private entrances and ample parking.
      2440-2478 Metrocentre Blvd, West Palm Beach, FL 33407
      View Details
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    West Palm Beach, FL 33407-3381
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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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    4601 Congress Ave, West Palm Beach, FL, 33407

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