Open-Plan Office
For Sale
Contact for pricing
3216 Flagler Avenue, Key West, FL 33040
The space has a private restroom, street-side glass entry, and a separate rear entrance.
Property Size3,877 SF
Price / SF$2.91
Days on Market8
Property Features for 3216 Flagler Avenue
General Information
Standard status
Active
Size
3,877 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Property Use
Professional Space
Amenities
private bathroom
Building Details
Building Size
3,877 SF
Year Built
1967
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 28
Last Checked: Oct 26 at 2:33PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office unit contains approximately 3,877 square feet of open-plan space, with a private bathroom and glass at the front entry. A second entrance is located at the rear of the unit on Riviera Dr. Off-street parking serves the property, which was built in 1967.
Key Highlights
- Approximately 3,877 square feet of open office space
- Glass at the front entrance and a separate rear entrance on Riviera Dr
- Private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,101
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,462,020
$1.5M
Cap Rate 7%
$1,044,300
$1.0M
Cap Rate 9%
$812,233
$812.2K
Market Conditions
NOI Build-Up for 3,877 SF
Gross rent
$116.3K $30.00/SF
− Vacancy
−$18.8K −$4.86/SF
EGI
$97.5K $25.14/SF
− OpEx
−$24.4K −$6.29/SF
NOI
$73.1K $18.86/SF
Area
Monroe County, FL
Vacancy
16.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,462,020
Cap Rate 7%
$1,044,300
Cap Rate 9%
$812,233
Alternative Uses
Best Use
Office B
$1.04M
$913.8K – $1.22M
NOI $73,101 @ 7.0% cap · market cap 646.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,164 @ 7.0% cap · market cap 966.05%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The space has a private restroom, street-side glass entry, and a separate rear entrance.
Where is this office unit located?
The property is located at 3216 Flagler Avenue Key West, FL.
What are key features of this property?
This property features: Approximately 3,877 square feet of open office space; Glass at the front entrance and a separate rear entrance on Riviera Dr; Private bathroom
