839 S Congress Ave 44,300 SF 100% Leased Retail Building Palm Springs, FL 33406 $30,727,349 CAD ($693.62 CAD/SF)

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.