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    The Largest CRE Database in the US with Over 1 Million Listings

    139 Marina Ave Key Largo, FL 33037

    Sponsored
    For Sale
    $2,600,000

    Multi-family - Key Largo, FL

    Type:Multi Family
    Property size:
    2,485 SF
    Lot size:
    0.22 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 28 at 5:06 am

    Property Features for 139 Marina Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Spa
    1
    Zoning
    R2 - Residential Duplex
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    6
    APN
    00452700-000000
    Parking features
    Covered, Open
    Interior features
    Smoke Alarms, Brazilian Quartzite Countertops, Quartz Countertops, Storage
    Exterior features
    Chickee Hut, Storage, Privacy Wall/Fence, Lighting, Hot Tub
    Fencing
    Fenced, Privacy
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Size
    2,485 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Expense value
    300
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Water front features
    Canal Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1980
    Floors in Building
    3
    Flooring type
    Tile, Vinyl
    Roof type
    Concrete
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Carlos Lorenzo

    American Caribbean Real Estate (305) 451-4078

    Listing agent Carlos Lorenzo (305) 451-4078 License #634298

    Listing date Jan 15, 2026

    MLS# 617374 Listing URL

    Copyright © 2026 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Canal Front Duplex with Ocean Views

    This canal front property in Port Largo features a legal duplex offering ocean views. Each side-by-side townhome includes 2 bedrooms and 2.5 bathrooms, with all bedrooms designed as en-suites. The property includes 75 feet of water-frontage and a concrete dock equipped with a 20,000 lbs Neptune boat lift. The 80 ft wide deep-water canal provides direct ocean access, leading to Key Largo waters suitable for boating, fishing, and diving. The concrete structure has been renovated and is located on Marina Ave, near the homeowner's park. Positioned across from a nature preserve, the home offers tranquility. Downstairs features a 760 sq ft storage area and a Tiki Hut. Plans for a concrete swimming pool were previously approved. An electric gated entry enhances security, and covered parking adds convenience. Each side has separate electric and water meters. The property, situated on a 0.22-acre lot, offers rental potential and is suitable for two families sharing a second home. The property size is 2485 square feet. It is zoned R2 - Residential Duplex.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.433859
    Latitude
    25.089675

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    FAQs

    What type of property is this?
    Duplex - Legal duplex with ocean views, waterfront access, and rental potential.
    Where is this duplex located?
    The property is located at 139 Marina Ave Key Largo, FL.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: - Canal-front legal duplex with **75' of waterfront, concrete dock, and 20,000 lbs boat lift** for direct ocean access.; - Completely renovated concrete structure with **breathtaking ocean views and balconies** to enjoy daily sunrises.; - Each townhome features 2 bedrooms with en-suite bathrooms.
    (786) 251-4823
    Request Owner's contact information
    139 Marina Ave Key Largo, FL 33037
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    Key Largo, FL 33037
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    139 Marina Ave Key Largo, FL 33037
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    We can help!
    Listing Contact
    Carlos Lorenzo
    Real Estate License ID: 634298
    (786) 251-4823
    Learn more
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