Palm Springs Development Site
Palm Springs Development Site
Marketing description
Marcus & Millichap is pleased to present for sale this Development Site located at 3818 South
Congress Avenue in Palm Springs, Florida. Palm Springs is a city in Palm Beach County, and it has a
population of 26,844. In 2020, Palm Springs had a workforce of 12,225 people. As a business center,
the city also experiences significant daytime population increases.
The property consists of a ±20,390 SF (0.47 acres) land parcel. Sitting on 4 Signal Intersection, the
property has two points of ingress/egress on Congress Avenue and 2nd Avenue North. It is
strategically located on the Corner of South Congress Avenue and 2nd Avenue North with 43,000
vehicles per day and less than 1.5-Miles west of I-95.The property is serving the surrounding
suburbia with 6,814 households within a 1-Mile Radius and Palm Beach State College with over
35,999 students.
Vacancy in the West Palm Beach Retail submarket is 3.5%. Rents are around $28.00/SF, which is
a 9.3% increase from where they were a year ago. In the past three years, rents have increased a
cumulative 24.5%. About 18,000 SF is under construction, representing a minimal 0.1% expansion of
inventory. The largest industries in Palm Springs in terms of the number of employees were
construction, health care, social assistance, and retail trade. With this, the major employers in the
surrounding area consist of Sovereign Healthcare Medicana, United State Postal Service, Florida
Military Department, and School Board Palm Beach County.
Within a 1-Mile Radius of the property, the average household income exceeds $54,269 and a
population of 17,900. The property sits 0.5 Miles away from the Palm Beach State College. Many
colleges and schools are a few minutes from this property including Palm Beach State College, Saint
Luke Catholic School, Palm Beach Preparatory Charter Academy, John I. Leonard Highschool, and
Lake Worth Middle School.
Shopping malls and shopping centers nearby include Boynton Beach Mall, Palm Springs Plaza,
Waterside Plaza, Polo Grounds Mall, Boynton Lakes Plaza, and Mil Lake Plaza. There are many
national and regional retailers in the immediate area including Aldi, Publix, Walmart, Presidente
Supermarket, Ross, Beall’s, Wawa, Mc. Donald’s, Burger King, and many more
Investment highlights
Prime Opportunity for Immediate Reposition of a Vacant Lot with 131’ Linear Feet of
Depth
Dense Infill Location With Over 17,900 People Within A One-Mile Radius
160’ Linear Feet Of Frontage On Congress Avenue With Traffic Counts Exceeding
43,000 Vehicles Per Day located on a Signalized Intersection
Development Opportunity On 20,390 Square Feet Of Land Zoned CG Commercial
Major Retailers Include Aldi, Publix, Walmart, Presidente Supermarket, Ross, Beall’s,
Wawa, Mc. Donald’s, Burger King, and many more
Property sits 0.5 Miles Distance from Palm Beach State College, 5th Largest College in
Florida with 35,999 Students
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