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    Renovated Office Building in Key West

    3140 Northside Drive Key West, FL 33040

    3140 Northside Drive, Key West, FL, 33040
    $1,200,000
    For Sale
    Claim this Listing
    $1,200,000

    COMMERCIAL - Key West, FL

    Property Size2,045 SF
    Price / SF$586.80
    AddedOct 15, 2025
    Days on Market274
    Last RefreshJul 15 at 1:06 pm

    Property Features for 3140 Northside Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    RO - Residential/Office
    Bathrooms
    1
    Rooms
    Bathroom 2, Bathroom 1
    Appliances
    No Appliances
    Standard status
    Active
    APN
    00065780-000206
    Size
    2,045 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    UNIT F OFFICES AT NORTHSIDE, A CONDO OR1128-796/97 OR1580-1656/57 OR2639-1391/92
    Tax Annual Amount
    4739

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1991
    Floors in Building
    2
    Number of units
    4
    Building materials
    CBS
    Roof type
    Metal

    Listing agent Team Gardner/Langley License #BK612006

    Listing office Berkshire Hathaway HomeServices Knight & Gardner Realty 336 Duval St., Key West, FL

    Listing date Oct 15, 2025

    MLS# 616880

    Copyright © 2026 Key West Association 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.

    Investment Insights

    Based on property information with market context.

    This fully renovated two-story office building is located on Northside Drive in Key West. The property offers an income-producing opportunity with versatile spaces. The ground floor features a medical practice, complete with a bathroom and kitchenette. The second floor includes a spacious office suite, a bathroom, and two additional units. The net leasable area is 2,045 square feet. Recent updates include a new metal roof and impact-resistant windows and doors. The property is positioned in a busy area of town, surrounded by numerous Key West professional services, and offers ample parking.

    Key Highlights

    • Income‑producing property with excellent rental potential
    • Fully renovated office building with modern upgrades
    • Located in a busy area of Key West, surrounded by professional services

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $61.4k $30.00
    − Vacancy −$9.9k −$4.86
    EGI $51.4k $25.14
    − OpEx −$12.9k −$6.29
    NOI $38.6k $18.86
    2,045 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $550.8K
    $482.0K – $642.6K (±1% cap)
    NOI $38,558 @ 7.0% cap · market cap 3.21%
    Second Best
    Healthcare Medical
    $396.7K
    $347.1K – $462.8K (±1% cap)
    NOI $27,767 @ 7.0% cap · market cap 2.31%
    Theoretical Best
    Office A
    $822.6K
    $719.8K – $959.7K (±1% cap)
    NOI $57,581 @ 7.0% cap · market cap 4.80%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Key West Institute ... Physician Dr. Scott J. ... Physician Destination Wellness Spa Spa & Massage Center Henry B. Allen, ... Tax Preparation

    Suggested Use

    Auto Repair Shop Building Supply Auto Parts Store Real Estate Agency Big Box & Wholesale Store Dental Office Storage Facility Hair Salon Electrical Service Law Firm

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

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    FAQs

    What type of property is this?
    Medical Office Space - Income-producing, renovated two-story office building in Key West, Florida.
    Where is this medical office space located?
    The property is located at 3140 Northside Drive Key West, FL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Income‑producing property with excellent rental potential; **Fully renovated office building with modern upgrades**; Located in a busy area of Key West, surrounded by professional services
    Contact an agent
    (305) 902-2447
    We can help!
    Contact an agent
    Team Gardner/Langley
    Real Estate License ID: BK612006
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