Office Condo with Private
For Sale
$329,000
1010 Kennedy Drive Unit 303, Key West, FL 33040
Third-floor office space includes a conference room, kitchenette, and a separate waiting or work area.
Property Size1,475 SF
Price / SF$223.05
Days on Market8
Property Features for 1010 Kennedy Drive Unit 303
General Information
Standard status
Active
Size
1,475 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
3
Property Use
Office
Taxes and HOA fees
Annual Taxes
$2,743
Building Details
Building Size
1,475 SF
Year Built
1978
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
Listed By:
Team Gardner/Langley · License #KWA.2032
(305) 902-2447
Source:
Keystoprealty
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 26 at 2:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Knight & Gardner Realty
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Investment Insights
Based on property information with market context.
Located on the third floor of the Kennedy Center, this office condo contains approximately 1,475 square feet. Its layout includes six private offices, a conference room, an oversized waiting or work area, and a kitchenette. The building dates to 1978 and has elevators, public restrooms on each floor, and off-street parking.
Association dues include water, electricity, building maintenance, and building insurance.
Association dues include water, electricity, building maintenance, and building insurance.
Key Highlights
- Approximately 1,475 square feet on the building’s third floor
- Six private offices, a conference room, waiting or work area, and kitchenette
- Elevators, public restrooms on each floor, and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,811
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,220
$556.2K
Cap Rate 7%
$397,300
$397.3K
Cap Rate 9%
$309,011
$309.0K
Market Conditions
NOI Build-Up for 1,475 SF
Gross rent
$44.3K $30.00/SF
− Vacancy
−$7.2K −$4.86/SF
EGI
$37.1K $25.14/SF
− OpEx
−$9.3K −$6.29/SF
NOI
$27.8K $18.86/SF
Area
Monroe County, FL
Vacancy
16.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,220
Cap Rate 7%
$397,300
Cap Rate 9%
$309,011
Alternative Uses
Best Use
Office B
$397.3K
$347.6K – $463.5K
NOI $27,811 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.3K
$519.1K – $692.2K
NOI $41,531 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,420
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Third-floor office space includes a conference room, kitchenette, and a separate waiting or work area.
Where is this office unit located?
The property is located at 1010 Kennedy Drive Unit 303 Key West, FL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Approximately 1,475 square feet on the building’s third floor; Six private offices, a conference room, waiting or work area, and kitchenette; Elevators, public restrooms on each floor, and off‑street parking
