3-Unit Mixed-Use
For Sale
$1,475,000
1200-1206 White Street, Key West, FL 33040
HNC-1 zoning allows professional offices, retail sales and services, specialty shops, and restaurants.
Property Size3,380 SF
Price / SF$436.39
Days on Market121
Property Features for 1200-1206 White Street
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Commercial
Zoning
HNC-1
Additional Details
Office Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$20,169
Building Details
Building Size
3,380 SF
Year Built
1989
Buildings
1
Tenancy
Multi
Listing Agency:
Truman & Co. (KW)
Listed By:
The Spottswood Team
(305) 432-4848
Source:
Keystoprealty
Added: Jul 2
Changed: Oct 28
Last Checked: Oct 26 at 3:23PM
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 Truman & Co. (KW)
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Investment Insights
Based on property information with market context.
This 3,380-square-foot mixed-use condominium property comprises three commercial units at 1200, 1202, and 1206 White Street. The 1200 and 1202 units have established businesses in place; 1206 is vacant. The property was built in 1989 and is located in Key West, Florida.
HNC-1 zoning includes professional offices, retail sales and services, specialty shops, and restaurants among its stated uses. The offering includes the three listed addresses; 1204 White Street is not part of the property.
HNC-1 zoning includes professional offices, retail sales and services, specialty shops, and restaurants among its stated uses. The offering includes the three listed addresses; 1204 White Street is not part of the property.
Key Highlights
- Three commercial condominium units totaling 3,380 square feet
- Established businesses occupy the 1200 and 1202 White Street units
- 1206 White Street is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,644
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,880
$932.9K
Cap Rate 7%
$666,343
$666.3K
Cap Rate 9%
$518,267
$518.3K
Market Conditions
NOI Build-Up for 3,380 SF
Gross rent
$81.1K $24.00/SF
− Vacancy
−$6.5K −$1.92/SF
EGI
$74.6K $22.08/SF
− OpEx
−$28.0K −$8.28/SF
NOI
$46.6K $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 Rate 5%
$932,880
Cap Rate 7%
$666,343
Cap Rate 9%
$518,267
Alternative Uses
Best Use
Mixed Use
$666.3K
$583.1K – $777.4K
NOI $46,644 @ 7.0% cap · market cap 3.16%
Second Best
Retail
$654.9K
$573.0K – $764.0K
NOI $45,842 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,170 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,345
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 35%
Shops & Services 30%
Dining 18%
Groceries 17%
Chevron
Shops & Services
9,727 visits/mo
0.2 miles
The Reach Key West, Curio Collection by Hilton
Hotels & Casinos
8,622 visits/mo
0.5 miles
Dairy Queen
Dining
5,832 visits/mo
0.1 miles
IGA
Groceries
5,390 visits/mo
0.1 miles
Best Western Hibiscus Motel
Hotels & Casinos
2,843 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - HNC-1 zoning allows professional offices, retail sales and services, specialty shops, and restaurants.
Where is this mixed-use property located?
The property is located at 1200-1206 White Street Key West, FL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Three commercial condominium units totaling 3,380 square feet; Established businesses occupy the 1200 and 1202 White Street units; 1206 White Street is vacant
