Two-Story Medical Office
3140 Northside Drive Unit F Key West, FL 33040
For Sale
$1,205,000
Fully renovated two-story office building with a ground-floor medical practice and second-floor suite and additional units.
Property Size2,045 SF
Price / SF$589.24
Days on Market315
Property Features for 3140 Northside Drive Unit F
General Information
- Standard status
- Active
- Size
- 2,045 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1991
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 902-2447
Listed By:
Team Gardner/Langley · License #BK612006
(305) 902-2447
Source:
Xome
Added: Sep 12, 2025
Changed: Jul 23
Last Checked: Jul 23 at 10:05AM
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
Investment Insights
Based on property information with market context.
This fully renovated two-story office building offers a mix of medical and office space. The ground floor is configured as an immaculate medical practice and includes a bathroom and kitchenette. The second floor features a spacious office suite along with a bathroom and two additional units, creating multiple leasing possibilities within the same building.
Recent improvements include new metal roofing, and impact-resistant windows and doors. The property is located on Northside Drive in Key West, in a busy area surrounded by other professional services, and it offers plenty of parking.
As presented, the building totals 2,045 SF of net leasable area and is currently described as an income-producing opportunity.
Recent improvements include new metal roofing, and impact-resistant windows and doors. The property is located on Northside Drive in Key West, in a busy area surrounded by other professional services, and it offers plenty of parking.
As presented, the building totals 2,045 SF of net leasable area and is currently described as an income-producing opportunity.
Key Highlights
- Fully renovated two‑story office building in Key West on Northside Drive
- Net leasable area: 2,045 SF with ground‑floor medical practice plus second‑floor suite and two additional units
- Ground floor includes a medical practice with a bathroom and kitchenette; second floor includes an office suite and bathroom
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 | $61.4k | $30.00 |
| − Vacancy | −$9.9k | −$4.86 |
| EGI | $51.4k | $25.14 |
| − OpEx | −$12.9k | −$6.29 |
| NOI | $38.6k | $18.86 |
2,045 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$550.8K
$482.0K – $642.6K
NOI $38,558 @ 7.0% cap · market cap 3.20%
Second Best
Healthcare Medical
$396.7K
$347.1K – $462.8K
NOI $27,767 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$822.6K
$719.8K – $959.7K
NOI $57,581 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Key West Institute ...
Physician
Dr. Scott J. ...
Physician
Destination Wellness Spa
Spa & Massage Center
Henry B. Allen, ...
Tax Preparation
Similar Off Market Nearby
- Lower Keys Animal Clinic — 1456 Kennedy Dr, Key West, FL 33040
FAQs
What type of property is this?
Medical Office Space - Fully renovated two-story office building with a ground-floor medical practice and second-floor suite and additional units.
Where is this medical office space located?
The property is located at 3140 Northside Drive Unit F Key West, FL.
What is the asking price?
The asking price for this property is $1,205,000.
What are key features of this property?
This property features: Fully renovated two‑story office building in Key West on Northside Drive; Net leasable area: 2,045 SF with ground‑floor medical practice plus second‑floor suite and two additional units; Ground floor includes a medical practice with a bathroom and kitchenette; second floor includes an office suite and bathroom
