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    Mixed-Use Property with Development Potential Title is generated by Realmo AI

    5331 5Th Avenue, Stock Island, FL 33040

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    For Sale
    $2,300,000

    Apartment 3 or more,Retail,Professional Service,Office Buildings

    Property size:
    5,705 SF
    Lot size:
    0.69 Acres
    Price / SF:
    $403/SF
    Added:
    Apr 2, 2026
    Days on Market:
    47
    Last Refresh:
    May 18 at 11:06 am

    Property Features for 5331 5Th Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    MU - Mixed Use District
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Standard status
    Active
    APN
    00126820-000000
    Size
    5,705 SF
    Lot size
    0.69 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    6829.91

    Building Details

    Year built
    1938
    Number of units
    6
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Team Gardner/Langley

    Listing agent Team Gardner/Langley License #BK612006

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

    Listing date Apr 2, 2026

    MLS# 616822 Listing URL

    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.

    HighLights

    • Large 30,000 sq ft land package consisting of four parcels.
    • Six residential units with 6 bedrooms and 6 bathrooms totaling 4,597 sq ft, ideal for rental income or multi‑family occupancy.
    • Two commercial units totaling 1,108 sq ft, suitable for business use or tenant leasing.
    • Vacant lot included, providing potential for expansion or new development.
    • Existing income from commercial and residential units.
    • Frame construction with metal roof.

    Overview

    This real estate package features four parcels totaling approximately 30,000 square feet of land. It includes two commercial units offering a combined 1,108 square feet, suitable for business use or tenant leasing. Additionally, there are six residential units featuring 6 bedrooms and 6 bathrooms across 4,597 square feet of living space, well-suited for rental income or multi-family occupancy. A vacant lot provides room for potential expansion or new development. This property, located in Stock Island, Florida, is zoned MU - Mixed Use District and represents an investment opportunity with existing income and future growth potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Stock Island
    County
    Monroe
    State
    Florida
    Longitude
    -81.6849
    Latitude
    24.5796

    Nearby Similar for Sale

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      Waterfront Land with Mixed-Use Zoning

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      7000 5Th Street, Stock Island, FL 33040
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    • $1,950,000

      Stock Island Commercial Property Opportunity

      Prime commercial property with mixed-use zoning and income potential.
      5670 Laurel Avenue, Stock Island, FL 33040
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    • $2,200,000

      Stock Island Mixed-Use Opportunity

      25,000 SF mixed-use property with redevelopment potential near Key West.
      5580 1st Avenue, Stock Island, FL 33040
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Four parcels with commercial, residential units, and vacant land.
    Where is this mixed-use property located?
    The property is located at 5331 5Th Avenue Stock Island, FL.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Large 30,000 sq ft land package consisting of four parcels.; Six residential units with 6 bedrooms and 6 bathrooms totaling 4,597 sq ft, ideal for rental income or multi‑family occupancy.; Two commercial units totaling 1,108 sq ft, suitable for business use or tenant leasing.
    (305) 294-5155
    We can help!
    Listing Contact
    Team Gardner/Langley
    Real Estate License ID: BK612006
    Learn More
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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
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