812 Fleming Street #2 Key West, FL 33040
Renovated, ground-floor office condo with natural light, private access, and ADA-compliant half bath.
Property Features for 812 Fleming Street #2
General Information
- Standard status
- Active
- Size
- 665 SF
Building Details
- Year Built
- 1933
Listing office RE/MAX Keys Connection (KW) (305) 304-0084
Listing date Jul 7, 2026
Source Laerrealty
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Investment Insights
Based on property information with market context.
The Seafoam building is designed for condo owners and guests, with a coded entrance and atrium-style hallways. Amenities include a large in-ground concrete pool reserved for condo owners and guests. The building is described as being up to date with SIRS and milestone inspections and noted as never having flooded, with the property referenced as in X flood zone.
For professionals seeking a small office to own, this move-in-ready condo offers a compact, privacy-minded setup with dedicated spaces for reception and individual work. Building access is controlled, and in-building features such as coded entry and private unit access support a secure day-to-day work environment.
Key Highlights
- Renovated 665 SF ground‑floor office condo in Seafoam Condominiums, built in 1933
- 12' ceilings plus large pane windows for natural light
- Private access includes interior side door; entry off the sidewalk with hand‑made mahogany French doors
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.0k | $30.00 |
| − Vacancy | −$3.2k | −$4.86 |
| EGI | $16.7k | $25.14 |
| − OpEx | −$4.2k | −$6.29 |
| NOI | $12.5k | $18.86 |