Office Unit with Finished
3420 Duck Avenue #7, Key West, FL 33040
For Sale
New
$450,000
A welcoming reception area serves multiple private rooms, with separate loft space for an office and storage.
Property Size749 SF
Price / SF$600.80
Days on Market3
Property Features for 3420 Duck Avenue #7
General Information
Standard status
Size
Property subtype
Additional Details
Property Use
Amenities
reception desk
waiting area
private treatment rooms
spa-style bathroom
kitchenette
coffee and water station
finished second-floor loft
storage
central air conditioning
Building Details
Year Built
Listing Agency:
Truman & Co. (KW)
Listed By:
Jennifer Newman · License FL KWA.263501800
(305) 902-7090
Source:
Buythekeys
Added: Nov 8
Last Checked: Nov 8 at 2:05AM
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 Truman & Co. (KW)
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Investment Insights
Based on property information with market context.
This office condominium at Poinciana Plaza Condominium Suites includes a front reception and waiting area, four private rooms, and a spacious bathroom. A kitchenette and coffee and water station add support space, while the finished second-floor loft is set up as a private office with storage. The unit also has a 3-ton central air conditioning system installed in 2025.
Common parking is available in front of the building, with additional parking for the unit in a rear lot. The property is zoned CL - Limited Commercial.
Common parking is available in front of the building, with additional parking for the unit in a rear lot. The property is zoned CL - Limited Commercial.
Key Highlights
- Four private treatment rooms or offices
- Finished second‑floor loft configured as a private office, with storage
- 3‑ton central air conditioning system installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,122
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,440
$282.4K
Cap Rate 7%
$201,743
$201.7K
Cap Rate 9%
$156,911
$156.9K
Market Conditions
NOI Build-Up for 749 SF
Gross rent
$22.5K $30.00/SF
− Vacancy
−$3.6K −$4.86/SF
EGI
$18.8K $25.14/SF
− OpEx
−$4.7K −$6.29/SF
NOI
$14.1K $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%
$282,440
Cap Rate 7%
$201,743
Cap Rate 9%
$156,911
Alternative Uses
Best Use
Office B
$201.7K
$176.5K – $235.4K
NOI $14,122 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$301.3K
$263.6K – $351.5K
NOI $21,089 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,303
Businesses Nearby
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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
$766,400
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Key West, FL
Properties on Market for Office Units in Key West
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A welcoming reception area serves multiple private rooms, with separate loft space for an office and storage.
Where is this office unit located?
The property is located at 3420 Duck Avenue #7 Key West, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four private treatment rooms or offices; Finished second‑floor loft configured as a private office, with storage; 3‑ton central air conditioning system installed in 2025
