Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4601 N Congress Ave West Palm Beach, FL 33407

    • Medical offices
    • 25,352 SF
    • 1.18 lot acres
    For Lease
    View listing
    Last Sale
    Sep 03, 2021
    $6,300,000
    Value Estimations
    $8,445,000
    Cap Rate Potential
    4.3%
    Medical offices
    Location Intelligence
    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.

    Current Use by Public Records

    • TierOne Compression / Medical Equipment Manufacturer
    • Caroline M. Martinez, PharmD / Pharmacy
    • Minerva Ellis / Internist / Practitioner Service Location
    • Access Medical Labrotories / Medical Laboratory
    • Neeraj Julka, MD / Internist / Doctor

    Property Details for 4601 N Congress Ave

    Year built
    1992
    Construction
    CONCRETE
    Lot size
    1.18 lot acres
    Property size
    25,352 SF
    Zone code
    CSPD
    Property type
    Medical offices
    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
      Statistic Estimate
      $12,257,000
      Market price range: $7.29M - $21.0M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $13,720,000
      Current use
      AUTO REPAIR, GARAGE
      $13,050,000
      Change: -5% Conversion: Difficult

    Get a detailed, property-specific valuation — 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
      $4,180,000
      6,036 SF

      4461 Medical Ctr Way

      MEDICAL BUILDING • 6,036 SF
      4461 Medical Ctr Way, West Palm Beach, FL 33407-3280
      View Details
    • Value Estimation
      $690,000
      13,416 SF

      4455 Medical Ctr Way

      MEDICAL BUILDING • 13,416 SF
      4455 Medical Ctr Way, West Palm Beach, FL 33407-3244
      View Details
    • Value Estimation
      $2,885,000
      6,000 SF

      5800 Corporate Way

      MEDICAL BUILDING • 6,000 SF
      5800 Corporate Way, West Palm Beach, FL 33407-2004
      View Details
    • Value Estimation by Request
      16,889 SF

      5400 Ee Ave

      MEDICAL BUILDING • 16,889 SF
      5400 Ee Ave, West Palm Beach, FL 33407-2344
      View Details
    • Value Estimation
      $540,000
      4,565 SF

      100 Northpoint Pkwy

      MEDICAL BUILDING • 4,565 SF
      100 Northpoint Pkwy, West Palm Beach, FL 33407-1906
      View Details
    • Value Estimation
      $5,275,000
      2,939 SF

      1911 Flagler Dr

      MEDICAL BUILDING • 2,939 SF
      1911 Flagler Dr, West Palm Beach, FL 33407-6111
      View Details

    Similar Nearby for Sale

    • $14,000,000
      37,274 SF

      The Atrium: West Palm Beach Office

      Class A Office Building, 37,274 SF
      5500 Village Blvd, West Palm Beach, FL 33407
      View Details
    • $9,000,000
      41,861 SF

      West Palm Beach Medical Office Building

      Prime medical office, strong NOI, owner-user potential.
      4400 Congress Ave, West Palm Beach, FL 33407
      View Details
    • Contact for pricing
      19,344 SF

      Renovated Class B Office Building

      Two-story office building with recent renovations and professional management.
      1720 East Tiffany Dr, West Palm Beach, FL 33407
      View Details
    • $1,150,000
      3,500 SF

      Versatile Industrial Condo with Office

      Industrial condo with office, showroom, and warehouse space for sale.
      5401 N Haverhill Rd, West Palm Beach, FL 33407
      View Details
    • $6,500,000
      32,000 SF

      West Palm Beach Office Building

      Renovated office building with I-95 access and CPD zoning.
      4431 Embarcadero Dr, West Palm Beach, FL 33407
      View Details
    • $650,000

      Executive Office Condominium For Sale

      Professionally designed office space with refined finishes and modern amenities.
      5730 Corporate Way, West Palm Beach, FL 33407
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      2,252 SF

      Turn-Key Outpatient Behavioral Health Clinic

      Fully furnished medical/office space ready for immediate occupancy.
      2809 Poinsettia Ave, West Palm Beach, FL 33407
      View Details
    • $16 SF/Yr
      30,328 SF

      Metrocentre Corporate Park Office Space

      West Palm Beach office space, ideal for medical or professional use.
      2442 Metrocentre Blvd, West Palm Beach, FL 33407
      View Details
    • $18 SF/Yr
      73,500 SF

      West Palm Beach Medical Office Space

      Prime Medical Office Suites, West Palm Beach
      2151 45Th St, West Palm Beach, FL 33407
      View Details
    • $23 SF/Yr
      5,820 SF

      West Palm Beach Office Suite 104

      1,885 SF Office, Waterfront Views
      2715 Australian Ave, West Palm Beach, FL 33407
      View Details
    • $20 SF/Yr
      58,700 SF

      Park Plaza Office Suites

      West Palm Beach commercial space available
      2100 45Th St, West Palm Beach, FL 33407
      View Details
    • $17 SF/Yr
      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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4601 N Congress Ave
    West Palm Beach, FL 33407
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.