839 S Congress Ave - Freestanding FOR SALE


Palm Springs, FL 33406
$22,500,000 USD
954-595-2999
839 S Congress Ave, Palm Springs, FL for Sale
$22,500,000 USD
Freestanding - FOR SALE
1/19
null | Request Cap Rate

839 S Congress Ave
Palm Springs, FL 33406


HIGHLIGHTS

  • 5.36-acre redevelopment site adjacent to Trump International Golf Course
  • City-approved density for up to 1,100 multifamily units
  • Existing shopping center providing short-term income
  • Leases structured with no renewal options, allowing redevelopment flexibility
  • Opportunity for multifamily, mixed-use, or re-tenanting strategy
  • Strong frontage along S Congress Avenue

OVERVIEW

839 S Congress Avenue presents a rare large-scale redevelopment opportunity in Palm Springs, FL, positioned along the highly trafficked Congress Avenue corridor. Spanning approximately 5.36 acres, the site is currently improved with an income-producing shopping center and benefits from Commercial Renewal (CR) zoning, allowing for flexible repositioning. City documentation supports development of up to approximately 1,100 residential units, providing substantial density potential for a future project. A preliminary massing study was completed to illustrate one potential development scenario, outlining an 8-story mixed-use concept with approximately 600 multifamily units, ground-floor retail, and structured parking. This concept represents a conservative design approach and does not reflect the full density supported by the site. The illustrative plan incorporates a balanced unit mix, a modern amenity program including a central courtyard and pool deck, and an integrated parking structure with capacity for over 800 spaces. The study is intended solely to demonstrate feasibility and optionality for a buyer. With ±10,000 SF of retail frontage, strong visibility, and proximity to surrounding residential neighborhoods and regional employment centers, the property is well positioned for high-density residential redevelopment. Existing short-term leases provide interim income while maintaining full flexibility for redevelopment, re-tenanting, or phased execution. This offering represents a scalable infill development opportunity in a supply-constrained submarket, with the ability to deliver a transformative residential project along a rapidly evolving corridor.

FOR SALE DETAILS

PRICE

$22,500,000 USD

PRICE/SF

$508 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

300

LAND DETAILS

LAND ACRES

5.37 AC

LAND SF

233,917 SF

ZONING

CG

APN/PARCEL ID

70-43-44-06-00-000-5010

ASK ABOUT THIS PROPERTY

Jaime SturgisNative Realty Co.More Info
954-595-2999

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Jaime SturgisNative Realty Co.More Info
954-595-2999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.