Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3208 Flagler Avenue 2 Key West, FL 33040

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial property available for sale in Key West, Florida.

    Property size:
    4,021 SF
    Added:
    Dec 4, 2023
    Days on Market:
    868
    Last Refresh:
    Apr 1 at 8:27 pm

    Property Features for 3208 Flagler Avenue 2

    General Information

    Standard status
    Active
    Size
    4,021 SF

    Building Details

    Year Built
    1967

    We can help!

    Listing Contact
    Yvette Talbott

    Listing agent Yvette Talbott

    Listing office

    Listing date Dec 4, 2023

    Source Evrealestate

    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 Yvette Talbott

    Overview

    Flagler Avenue Commercial Property

    A commercial property with 4,021 square feet of space is available for sale. The property is located on Flagler Avenue in Key West, Florida. It is classified as a specialty property and other specialty property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Appraisers of the Keys, Inc. Real Estate Agency Keys Pest Control Landscaping

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.7635561
    Latitude
    24.5614973

    Nearby Similar for Sale

    • $449,000

      Turnkey Office Condo in Old Town

      Renovated 665 SF office condo in Key West.
      812 Fleming Street, Key West, FL 33040
      View Details
    • $439,000

      Key West Commercial Condo Opportunity

      Versatile commercial condo in the heart of Old Town Key West.
      1012 Truman Avenue, Key West, FL 33040
      View Details
    • $789,999

      Commercial Condo in Old Town

      Centrally located commercial condo in Key West's Old Town.
      1206 White Street, Key West, FL 33040
      View Details
    • $3,375,000

      Key West Bar and Liquor Store

      Iconic bar and liquor store with drive-through in Key West.
      1000-1006 Truman Avenue, Key West, FL 33040
      View Details
    • $2,875,000

      Key West Commercial Condos Investment

      Prime investment opportunity: commercial and residential condos in Key West.
      1200-1206 White Street, Key West, FL 33040
      View Details
    • $779,000

      Updated Commercial Condo For Sale

      Commercial condo with recent updates, impact windows, and assigned parking.
      1200 White Street, Key West, FL 33040
      View Details
    • $2,699,000

      Prime Corner Location on Truman

      Commercial property with high visibility and multiple potential uses.
      1000 Truman Avenue, Key West, FL 33040
      View Details
    • $689,000

      Commercial Space in Old Town

      Centrally located commercial space in Key West's Old Town.
      1202 White Street, Key West, FL 33040
      View Details
    • $4,800

      Old Town Professional Space

      Professional space in excellent location on Truman Ave / US-1.
      1213 Truman Avenue, Key West, FL 33040
      View Details
    • $999,999
      1,452 SF

      Key West Income Producing Duplex

      Renovated Key West duplex with strong income potential.
      1018 Georgia Street, Key West, FL 33040
      View Details
    • $2,699,999
      3,568 SF

      Waterfront Multifamily with Boat Lift

      Upgraded multifamily property with waterfront access and rental income potential.
      6 Egret Lane, Geiger Key, FL 33040
      View Details
    • $1,205,000

      Renovated Key West Office Building

      Income-producing, renovated two-story office building in Key West, Florida.
      3140 Northside Drive, Key West, FL 33040
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property available for sale in Key West, Florida.
    Where is this specialty property located?
    The property is located at 3208 Flagler Avenue 2 Key West, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Commercial property in Key West, Florida.; Architectural style: Commercial.; Built in 1967.
    (305) 304-7650
    We can help!
    Listing Contact
    Yvette Talbott
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!