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3140 Northside Dr 2,046 SF 100% Leased Office Building Key West, FL 33040 $1,205,000 ($588.95/SF) 9.96% Cap Rate
Investment Highlights
- Located in the bustling New Town district of Key West, the property offers ample on-site parking
- Established tenants in place
- Completely renovated with upscale, high-end finishes throughout
- Vibrant, high-traffic medical complex in prime location
Executive Summary
Discover an income-producing opportunity with this fully renovated office. Located in Key West on Northside Drive, this two-story building offers an impressive blend of modern upgrades and versatile spaces, making it a perfect investment. The ground floor is an immaculate medical practice, complete with a bathroom and kitchenette. The second floor features a spacious office suite, a bathroom, and two additional units. With a net leasable area of 2,045 SF, this property offers excellent rental income potential. Recent updates include new metal roofing and impact-resistant windows and doors, enhancing durability and minimizing maintenance. Positioned in a busy area of town, it's surrounded by numerous Key West professional services with plenty of parking.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
2,046 SF
Building Class
B
Year Built/Renovated
1991/2018
Price
$1,205,000
Price Per SF
$588.95
Cap Rate
9.96%
NOI
$120,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,023 SF
Building FAR
0.03
Lot Size
1.75 AC
Zoning
Commercial - Offices at Northside Drive is a business complex with mainly medical offices.
Parking
50 Spaces (24.45 Spaces per 1,000 SF Leased)
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
10,665
32,224
32,254
2025 Population
8,698
26,534
26,575
Population Growth '20-'25
-18.4%
-17.7%
-17.6%
2020 Households
4,086
13,621
13,636
2025 Households
3,273
11,150
11,169
Household Growth '20-'25
-19.9%
-18.1%
-18.1%
Average Age
40
43
43
Median Household Income
$85,403
$83,789
$83,945
Daytime Employees
6,060
27,532
28,926
Total Businesses
999
3,292
3,424
College Degree + Higher
31%
32%
32%
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Presented by
Key West Institute for Plastic Surgery
3140 Northside Dr
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