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    Property profile & analytics

    4700 N Congress Ave, Unit 305 West Palm Beach, FL 33407

    • Medical offices
    • 45,300 SF
    • 5.12 lot acres
    For Lease
    View listing
    $1,100 /Mo
    Last Sale
    Jan 11, 2024
    $8,250,000
    Value Estimations
    $8,250,000
    Cap Rate Potential
    7.7%
    Medical offices
    Location Intelligence
    Property ID
    US18-5009685
    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

    • Community Wellness Center / Doctor
    • Columbia Hospital Wound Management / Hospital
    • Patty Davis OTR/L, CHT / Physical Therapy Clinic / Occupational Therapist
    • Isabel Bueno, M.D. / Internist / Medical Group
    • Dental Arts West Palm Beach / Dental Clinic

    Property Details for 4700 N Congress Ave

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    5.12 lot acres
    Property size
    45,300 SF
    Zone code
    OC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    74-43-43-06-00-000-1130
    APU
    74434306000001130

    Description

    This exceptional sublease opportunity presents two beautifully built-out medical office spaces within a larger suite at 4700 N Congress Avenue. Located in an OC-zoned area, this single-tenant property (APN 74434306000001130) offers two distinct spaces ideal for medical or aesthetics providers. One space measures 114 square feet, while the other is 125 square feet. Each office is available for $1,000 per month. The existing tenant is seeking a compatible business to share their suite. A shared conference room is also available for a minimal additional monthly fee. The property is a single-suite office building with no land associated with the building itself (lot size listed as 0 sq ft). This presents a unique chance to secure high-quality, move-in ready office space in a prime location without the long-term commitment of a full lease. The modern build-out is perfect for immediate occupancy, minimizing upfront capital expenditures. This is an excellent opportunity for a small medical practice or aesthetics business seeking a cost-effective and well-appointed space. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,250,000
      ML approach
      $8,250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,560,000
      6.5%
      $9,745,000
      7%
      $9,050,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0849
    Latitude
    26.763
    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
    $133,705
    $0.00
    $5,800,000
    $5,800,000
    -
    $0.00
    $5,800,000
    $5,800,000

    Comparable in this City

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      $2,620,000
      6,000 SF

      5800 Corporate Way

      MEDICAL BUILDING • 6,000 SF
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      View Details
    • Value Estimation
      $10,735,000
      16,889 SF

      5400 Ee Ave

      MEDICAL BUILDING • 16,889 SF
      5400 Ee Ave, West Palm Beach, FL 33407-2344
      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
    • Value Estimation
      $2,730,000
      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
      $6,605,000
      25,352 SF

      4601 Congress Ave

      MEDICAL BUILDING • 25,352 SF
      4601 Congress Ave, West Palm Beach, FL 33407-3381
      View Details
    • 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

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    West Palm Beach, FL 33407
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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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