Key West Office Condo
3718 N Roosevelt Boulevard Key West, FL 33040
For Sale
$599,000
COMMERCIAL - Key West, FL
Property Size1,133 SF
Lot Size0.03 Acres
Price / SF$528.68
Days on Market309
Property Features for 3718 N Roosevelt Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG - General Commercial
Bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street
Appliances
Refrigerator
Standard status
Active
APN
00065181-000600
Size
1,133 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT F ROOSEVELT SUITES CONDOMINIUMS OR2255-54/117 OR2266-2403/04 OR2457-1874/77 OR2714-1821/22 OR3076-679 OR3076-683 OR
Tax Annual Amount
2678
Utilities
Cooling system
Central Air
Water front
1
Building Details
Year built
1983
Flooring type
Laminate
Building materials
CBS, Concrete
Listing Agency:
RE/MAX Keys Connection (KW)
(305) 296-1400
Listed By:
Bobby W Coe IV · License #3428120
(305) 363-9665
Added: Sep 22, 2025
Changed: May 21
Last Checked: Jul 27 at 2:06PM
MLS# 616574
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 commercial property is a fully leased office condo, offering an eight percent cap rate. The unit features three private offices, a large conference room, a lobby, and a kitchen area. It is located in a professionally managed building with a mix of owners and tenants. The property benefits from signage on North Roosevelt Boulevard, a busy street in Key West. The unit also offers an ocean view. The property is zoned CG - General Commercial and has a size of 1133 square feet. The lot size is 0.03 acres.
Key Highlights
- Amazing Eight (8%) Cap Rate
- Fully Leased to a Strong Tenant
- Prime Location on North Roosevelt Blvd with Amazing Signage
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 | $34.0k | $30.00 |
| − Vacancy | −$5.5k | −$4.86 |
| EGI | $28.5k | $25.14 |
| − OpEx | −$7.1k | −$6.29 |
| NOI | $21.4k | $18.86 |
1,133 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$305.2K
$267.0K – $356.1K
NOI $21,363 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$455.7K
$398.8K – $531.7K
NOI $31,902 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Fully leased office condo with strong tenant and ocean view.
Where is this office units located?
The property is located at 3718 N Roosevelt Boulevard Key West, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Amazing **Eight (8%) Cap Rate**; **Fully Leased to a Strong Tenant**; **Prime Location on North Roosevelt Blvd with Amazing Signage**
