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100% Leased NNN Medical Office Asse 4889 S Congress Ave 9,672 SF 100% Leased Office Building Lake Worth, FL 33461 $3,800,000 ($392.89/SF) 6.39% Cap Rate



Investment Highlights
- 100% leased ±9,672 SF medical office investment
- Established tenants with NNN leases and annual escalations
- ±105 feet of frontage along S Congress Avenue with prominent signage
- 6.5% CAP Rate beginning February 2027
- More than $500,000 in recent property improvements
- Near JFK Medical Center & the surrounding healthcare hub
Executive Summary
4889 S Congress Avenue is a 100% leased, ±9,672-square-foot medical office investment property located in Lake Worth, Florida, near the JFK Medical Center healthcare hub. 6.39% current cap rate; 6.5% beginning February 2027.
This two-story asset is fully occupied by three established healthcare practices on NNN leases with annual rent escalations, providing investors with immediate cash flow and built-in income growth. The property has also benefited from more than $500,000 in recent improvements, including a new roof, renovated second floor, renovated elevator cab, two new HVAC units, refreshed exterior paint, upgraded landscaping and monument signage, and a resealed and restriped parking lot. The building includes 40 surface parking spaces, a covered porte-cochere, approximately 105 feet of frontage along S Congress Avenue and prominent building and monument signage.
Positioned within the established Lake Worth/Atlantis medical corridor, the property sits approximately half a mile from JFK Medical Center, minutes from the 6th Avenue South I-95 interchange, and within a short drive of Florida's Turnpike. The location combines proximity to a major healthcare ecosystem with strong demographics and high visibility along S Congress Avenue, which sees approximately 34,500 vehicles per day.
For investors seeking a fully leased medical office building for sale in Palm Beach County, 4889 S Congress Avenue offers a compelling combination of strong tenancy, NNN lease structure, scheduled rent growth, recent capital improvements, and an established medical location. Visit CoStar's Data Room to view the full Offering Memorandum or call (561) 471-8000 for more information.
This two-story asset is fully occupied by three established healthcare practices on NNN leases with annual rent escalations, providing investors with immediate cash flow and built-in income growth. The property has also benefited from more than $500,000 in recent improvements, including a new roof, renovated second floor, renovated elevator cab, two new HVAC units, refreshed exterior paint, upgraded landscaping and monument signage, and a resealed and restriped parking lot. The building includes 40 surface parking spaces, a covered porte-cochere, approximately 105 feet of frontage along S Congress Avenue and prominent building and monument signage.
Positioned within the established Lake Worth/Atlantis medical corridor, the property sits approximately half a mile from JFK Medical Center, minutes from the 6th Avenue South I-95 interchange, and within a short drive of Florida's Turnpike. The location combines proximity to a major healthcare ecosystem with strong demographics and high visibility along S Congress Avenue, which sees approximately 34,500 vehicles per day.
For investors seeking a fully leased medical office building for sale in Palm Beach County, 4889 S Congress Avenue offers a compelling combination of strong tenancy, NNN lease structure, scheduled rent growth, recent capital improvements, and an established medical location. Visit CoStar's Data Room to view the full Offering Memorandum or call (561) 471-8000 for more information.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
9,672 SF
Building Class
C
Year Built/Renovated
1999/2023
Price
$3,800,000
Price Per SF
$392.89
Cap Rate
6.39%
NOI
$242,820
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,836 SF
Building FAR
0.31
Lot Size
0.72 AC
Zoning
CSH - CN Commercial Neighborhood, CG Commercial General (office, medical, retail, bank, personal services, galleries)
Parking
40 Spaces (4.14 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Central Heating
- Monument Signage
- Air Conditioning
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 70-43-44-30-01-128-0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,398,298 |
Property Taxes
Parcel Number
70-43-44-30-01-128-0010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,398,298
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