Ground-Level
New
For Sale
Contact for pricing
308 Front Street, Key West, FL 33040
Display windows face a pedestrian-oriented area near hotels, transit stops, and a well-known waterfront gathering spot.
Property Size9,411 SF
Price / SF$0.88
Days on Market7
Property Features for 308 Front Street
General Information
Standard status
Active
Size
9,411 SF
Property subtype
Commercial
Building Details
Building Size
9,411 SF
Year Built
1963
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 3:16PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This ground-floor retail space features large display windows and approximately 1,250 square feet. An adjoining 950-square-foot area may be combined with the storefront, creating a total of 2,200 square feet. The building dates to 1963.
The property is at 308 Front Street in Key West, across from the Opal and Ocean Key House Hotels and near Mallory Square. Old Town train and trolley stops are directly across the street, with cruise ship passengers and tourists among the pedestrians in the area.
The property is at 308 Front Street in Key West, across from the Opal and Ocean Key House Hotels and near Mallory Square. Old Town train and trolley stops are directly across the street, with cruise ship passengers and tourists among the pedestrians in the area.
Key Highlights
- Approximately 1,250 square feet of ground‑level retail space
- An adjoining 950‑square‑foot area can be combined for 2,200 square feet total
- Large display windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,638
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,552,760
$2.6M
Cap Rate 7%
$1,823,400
$1.8M
Cap Rate 9%
$1,418,200
$1.4M
Market Conditions
NOI Build-Up for 9,411 SF
Gross rent
$203.3K $21.60/SF
− Vacancy
−$20.9K −$2.22/SF
EGI
$182.3K $19.38/SF
− OpEx
−$54.7K −$5.81/SF
NOI
$127.6K $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 Rate 5%
$2,552,760
Cap Rate 7%
$1,823,400
Cap Rate 9%
$1,418,200
Alternative Uses
Best Use
Retail
$1.82M
$1.60M – $2.13M
NOI $127,638 @ 7.0% cap · market cap 1,537.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.31M – $4.42M
NOI $264,984 @ 7.0% cap · market cap 3,192.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
97k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Hotels & Casinos 21%
Groceries 19%
Apparel 13%
La Concha Key West
Hotels & Casinos
20,542 visits/mo
0.2 miles
Wendy's
Dining
19,101 visits/mo
0.2 miles
Fausto's Food Palace
Groceries
10,002 visits/mo
0.3 miles
River Street Sweets
Groceries
8,601 visits/mo
0.2 miles
The Cafe
Dining
8,463 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
Similar Off Market Nearby
- Pressed Bloom — 626 Josephine Parker Way #101, Key West, FL 33040
- Bespoke Floral Design LLC — 291 Front St Unit 209, Key West, FL 33040
- Karro Events and Floral — 818 White St, Key West, FL 33040
- Love In Bloom Florist — 134 Simonton St, Key West, FL 33040
- Milan Event — 909 Fleming St, Key West, FL 33040
Frequently Asked Questions
What type of property is this?
Storefront property - Display windows face a pedestrian-oriented area near hotels, transit stops, and a well-known waterfront gathering spot.
Where is this storefront property located?
The property is located at 308 Front Street Key West, FL.
What are key features of this property?
This property features: Approximately 1,250 square feet of ground‑level retail space; An adjoining 950‑square‑foot area can be combined for 2,200 square feet total; Large display windows
