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    Property profile & analytics

    6950 Congress Ave Lake Worth, FL 33462-3700

    • Retail space
    • 12,448 SF
    • 1.69 lot acres
    OFF-MARKET
    Last Sale
    Sep 27, 2024
    $6,000,000
    Value Estimations
    $4,580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5261877
    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

    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • Citibank ATM / Atm
    • WSS / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 6950 Congress Ave

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    1.69 lot acres
    Property size
    12,448 SF
    Zone code
    CC
    Property type
    Retail space
    APN
    00-43-45-05-23-000-0010
    APU
    434505230000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,510,000
      6.5%
      $3,240,000
      7%
      $3,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,554,000
      Market price range: $2.45M - $5.29M
      AI Estimate
      $3,114,000
      Market price range: $763k - $3.93M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,855,000
      Current use
      RESTAURANT
      $7,210,000
      Change: +87% Conversion: Easy
      OFFICE BUILDING
      $5,485,000
      Change: +42% Conversion: Easy
      AUTO REPAIR, GARAGE
      $5,125,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $4,905,000
      Change: +27% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,530,000
      Change: +17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.089
    Latitude
    26.5726
    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
    $58,851
    $1,753,819
    $1,664,621
    $3,418,440
    -
    $1,753,819
    $1,664,621
    $3,418,440

    Comparable in this City

    • Value Estimation
      $740,000
      2,615 SF

      209 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 2,615 SF
      209 3rd St, Lantana, FL 33462-2855
      View Details
    • Value Estimation
      $820,000
      2,513 SF

      190 Atlantis Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,513 SF
      190 Atlantis Blvd, Atlantis, FL 33462-1111
      View Details
    • Value Estimation
      $1,960,000
      8,542 SF

      304 Ocean Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,542 SF
      304 Ocean Ave, Lantana, FL 33462-3257
      View Details
    • Value Estimation
      $1,385,000
      4,144 SF

      445 Lantana Rd Ste, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 4,144 SF
      445 Lantana Rd Ste, Lantana, FL 33462-1726
      View Details
    • Value Estimation
      $1,070,000
      2,730 SF

      114 Ocean Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,730 SF
      114 Ocean Ave, Lantana, FL 33462-3206
      View Details
    • Value Estimation by Request
      0.51 Acres

      1228 Hypoluxo Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.51 Acres
      1228 Hypoluxo Rd, Lantana, FL 33462-4224
      View Details

    Similar Nearby for Sale

    • $569,000
      1,202 SF

      Free-Standing Retail Building on US1

      Retail building with high visibility and ample parking.
      888 E Coast Ave, Lantana, FL 33462
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      Two-Story Commercial Building with Parking

      Unique commercial property suitable for retail, office, or contractor operations.
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    • $640,000
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      Lantana Retail Building - Prime Location

      Free-standing retail space, high visibility.
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    • $3,499,000
      10,862 SF

      Lantana Retail Center For Sale

      Retail center adjacent to Publix with value-add potential.
      503 Ridge Rd, Lantana, FL 33462
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    • Contact for pricing

      Waterfront Land with Development Potential

      Waterfront land in Lantana, ideal for restaurant or retail.
      115 Moorings Dr, Lantana, FL 33462
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    Similar Nearby for Lease

    • Contact for pricing
      500 SF

      Retail Space on Ocean Avenue

      Retail space available for lease on Ocean Avenue, Lantana, FL.
      212 E Ocean Ave, Lantana, FL 33462
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Atlantis Center

      Retail space available in a busy shopping center.
      6210 S Congress Ave, Lake Worth, FL 33462
      View Details
    • $18 SF/Yr
      7,400 SF

      Retail Space on Congress Avenue

      7,400 SF retail space available for lease.
      6128-6164 S Congress Ave, Lake Worth, FL 33462
      View Details
    • Contact for pricing
      1,492 SF

      Retail Space in Lantana Center

      Retail space available in Winn Dixie anchored shopping center.
      457-479 Greynolds Cir, Lantana, FL 33462
      View Details
    • $30 SF/Yr
      2,871 SF

      Retail Space on Ocean Avenue

      Retail space available for lease on Ocean Avenue, Lantana, FL.
      301 E Ocean Ave, Lantana, FL 33462
      View Details
    • Contact for pricing

      Retail Space on Hypoluxo Road

      Recently renovated retail space with high-traffic location.
      125 Hypoluxo Rd, Lantana, FL 33462
      View Details
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    Lake Worth, FL 33462-3700
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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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