Mixed-Use Commercial
For Sale
$2,050,000
5331 5th Avenue, Stock Island, FL 33040
Residential, Stock Island, FL
Property Size5,705 SF
Lot Size0.69 Acres
Price / SF$359.33
Days on Market60
Property Features for 5331 5th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MU - Mixed Use Commercial
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Off Street
Appliances
Refrigerator
Subdivision
Maloney Sub (5.0)
View
Water
Directions
GPS TO 5331 5TH AVENUE
Standard status
Active
APN
00126820000000
Size
5,705 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23691
Building Details
Year built
1938
Building materials
CBS, Frame, Manufactured, Combo Construction
Architectural style
Other
Listing Agency:
Bascom Grooms Real Estate (KW)
(305) 295-7511
Listed By:
Bascom L Grooms · License #647099
(305) 304-7444
Added: Jun 29
Changed: Aug 20
Last Checked: Aug 27 at 7:06PM
MLS# 620462
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 offering comprises four parcels totaling 30,000 square feet, or 0.6887 acres, of land in Stock Island. The property is designated MU - Mixed Use Commercial and includes seven electric meters and seven water meters. Off-street parking is identified, and the property record dates to 1938.
The site is at Mile Marker 5 and is described as being minutes from Key West, with resorts, dining establishments, and marinas nearby. The property information also indicates that ROGO exemption for six or seven units may be possible, providing a specific development consideration for the site.
The site is at Mile Marker 5 and is described as being minutes from Key West, with resorts, dining establishments, and marinas nearby. The property information also indicates that ROGO exemption for six or seven units may be possible, providing a specific development consideration for the site.
Key Highlights
- Four parcels totaling 30,000 square feet
- 0.6887 acres of land
- MU - Mixed Use Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,574,580
$1.6M
Cap Rate 7%
$1,124,700
$1.1M
Cap Rate 9%
$874,767
$874.8K
Market Conditions
NOI Build-Up for 5,705 SF
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.
Gross rent
$136.9K $24.00/SF
− Vacancy
−$11.0K −$1.92/SF
EGI
$126.0K $22.08/SF
− OpEx
−$47.2K −$8.28/SF
NOI
$78.7K $13.80/SF
Area
Monroe County, FL
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,574,580
Cap Rate 7%
$1,124,700
Cap Rate 9%
$874,767
Alternative Uses
Best Use
Mixed Use
$1.12M
$984.1K – $1.31M
NOI $78,729 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,635 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 33040, FL
35,958
Population
19,001
Households
1.9
Avg Household Size
44
Median Age
38%
College-Educated
92%
High-School Grad
17.7 sq mi
ZIP Area
2,032
Density / Sq Mi
$79,038
Median Household Income
$42,458
Median Earnings
$2,079
Median Rent
$766,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - The site carries MU zoning and includes seven electric meters and seven water meters.
Where is this commercial land located?
The property is located at 5331 5th Avenue Stock Island, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Four parcels totaling 30,000 square feet; 0.6887 acres of land; MU - Mixed Use Commercial zoning
