Automotive Repair Building on Two
For Sale
$1,950,000
5670 Laurel Avenue, Stock Island, FL 33040
COMMERCIAL - Stock Island, FL
Property Size5,258 SF
Lot Size0.29 Acres
Price / SF$370.86
Days on Market554
Property Features for 5670 Laurel Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU - Mixed Use District
Parking features
Guest, Off Street
Appliances
No Appliances
Subdivision
Maloney Sub (5.0)
View
Water
Directions
One block off Overseas Hwy behind the free standing CVS at MM 5 on Stock Island
Standard status
Active
APN
00124410-000000
Size
5,258 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BK 31 LT 7 AND LT 8 STOCK ISLAND MALONEY SUB PB1-55 G67-18 G73-110 OR624-88 OR624-89 OR522-377 OR796-2190 OR826-1492 OR8
Tax Annual Amount
5862
Legal Description
BK 31 LT 7 AND LT 8 STOCK ISLAND MALONEY SUB PB1-55 G67-18 G73-110 OR624-88 OR624-89 OR522-377 OR796-2190 OR826-1492 OR8
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
covered work areas
outdoor work areas
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Concrete
Roof type
Other
Listing Agency:
RE/MAX Keys Connection (KW)
(305) 296-1400
Listed By:
Curtis A Skomp, CCIM · License #586474
(305) 745-9088
Added: Jan 30, 2025
Changed: Aug 4
Last Checked: Aug 7 at 12:06PM
MLS# 613508
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 for-sale automotive-oriented property includes a large CBS building in fair condition, along with covered and outdoor work areas. The site consists of two 50' x 125' lots, providing approximately 100' of frontage and 125' depth on Laurel Avenue. The building totals 5,258 square feet at ground level, and the property includes space that is currently owner occupied as well as a portion leased to a cycle shop for rental income.
The property is located on Laurel Avenue with convenient access to Overseas Highway, and it sits behind a free-standing CVS at MM 5. The subject property is in an AE flood zone, and the county zoning is MU - Mixed Use District, supporting a range of commercial and residential uses. The occupational licenses noted for this property include Public Service Marine Repair, Towing & Salvage, and Retail Sales and Auto Repair, Detailing, Towing & Rentals.
Adjacent properties both have newer-built structures, and the seller indicates a new building may be considered.
The property is located on Laurel Avenue with convenient access to Overseas Highway, and it sits behind a free-standing CVS at MM 5. The subject property is in an AE flood zone, and the county zoning is MU - Mixed Use District, supporting a range of commercial and residential uses. The occupational licenses noted for this property include Public Service Marine Repair, Towing & Salvage, and Retail Sales and Auto Repair, Detailing, Towing & Rentals.
Adjacent properties both have newer-built structures, and the seller indicates a new building may be considered.
Key Highlights
- Mixed‑use (MU) commercial property on Laurel Ave on Stock Island with convenient access to Overseas Hwy
- Two lots totaling 100' of frontage x 125' deep (50' x 125' each), located behind the free‑standing CVS at MM 5
- 5,258 SF CBS building (ground level) in fair condition; covered and outdoor work areas on the large lot
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
$71,312
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
3.66%
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%
$1,426,240
$1.4M
Cap Rate 7%
$1,018,743
$1.0M
Cap Rate 9%
$792,356
$792.4K
Market Conditions
NOI Build-Up for 5,258 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
$113.6K $21.60/SF
− Vacancy
−$11.7K −$2.22/SF
EGI
$101.9K $19.38/SF
− OpEx
−$30.6K −$5.81/SF
NOI
$71.3K $13.56/SF
Area
Monroe County, FL
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,426,240
Cap Rate 7%
$1,018,743
Cap Rate 9%
$792,356
Alternative Uses
Best Use
Retail
$1.02M
$891.4K – $1.19M
NOI $71,312 @ 7.0% cap · market cap 3.66%
Second Best
Industrial
$1.01M
$883.0K – $1.18M
NOI $70,639 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,048 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Apparel 16%
Home Improvements & Furnishings 8%
Shell
Shops & Services
4,294 visits/mo
0.1 miles
Tom Thumb Food Stores
Shops & Services
3,405 visits/mo
0.2 miles
West Marine
Apparel
2,047 visits/mo
0.3 miles
Carquest Auto Parts
Shops & Services
1,182 visits/mo
0.2 miles
Airgas
Home Improvements & Furnishings
1,013 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - CBS building with covered and outdoor work areas sits on two lots with Laurel Avenue frontage under MU zoning.
Where is this auto shop located?
The property is located at 5670 Laurel Avenue Stock Island, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Mixed‑use (MU) commercial property on Laurel Ave on Stock Island with convenient access to Overseas Hwy; Two lots totaling 100' of frontage x 125' deep (50' x 125' each), located behind the free‑standing CVS at MM 5; 5,258 SF CBS building (ground level) in fair condition; covered and outdoor work areas on the large lot
