Stock Island Commercial Property For
For Sale
Contact for pricing
5670 Laurel Ave, Key West, FL 33040
Commercial property on Stock Island with mixed-use zoning.
Property Size5,258 SF
Lot Size0.29 Acres
Price / SF$370.86
Days on Market182
Property Features for 5670 Laurel Ave
General Information
Standard status
Active
Size
5,258 SF
Lot size
0.29 Acres
Property subtype
Industrial, Mixed Use, Retail, Special Purpose
Zoning
MU - Mixed Use District
Building Details
Year Built
1980
Buildings
1
Stories
1
Units
2
Listing Agency:
RE/MAX All Keys Real Estate
(305) 296-1400
Listed By:
Greg Dully · License #SL3420625
Source:
Crexi
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 11 at 6:18PM
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 RE/MAX All Keys Real Estate
Investment Insights
Based on property information with market context.
This commercial property is located on Laurel Ave in Stock Island, offering convenient access to Overseas Hwy and situated behind a CVS store. The property consists of two lots, each measuring 50' x 125', providing a total frontage of 100' and a depth of 125' on Laurel Ave. The county zoning is Mixed Use (MU), allowing for various commercial and residential applications. The property includes a 5,258 square foot CBS building in fair condition, with covered and outdoor work areas on the large lot. The location is in an AE flood zone. The property is partially owner-occupied and partially leased to a cycle shop for rental income. Occupational licenses are in place for Public Service Marine Repair, Towing & Salvage, Retail Sales, and Auto Repair, Detailing, Towing & Rentals. New construction may be considered, as adjoining properties feature newer structures. Seller may consider Owner Financing to a Qualified buyer.
Key Highlights
- Prime commercial property on Stock Island with 100' frontage on Laurel Ave, offering convenient access to Overseas Hwy.
- Large 5,258 sf. CBS building with covered and outdoor work areas.
- Mixed Use (MU) zoning allows for many commercial and residential uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,451,200
$1.5M
Cap Rate 7%
$1,036,571
$1.0M
Cap Rate 9%
$806,222
$806.2K
Market Conditions
NOI Build-Up for 5,258 SF
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.
Gross rent
$126.2K $24.00/SF
− Vacancy
−$10.1K −$1.92/SF
EGI
$116.1K $22.08/SF
− OpEx
−$43.5K −$8.28/SF
NOI
$72.6K $13.80/SF
Area
Monroe County, FL
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,451,200
Cap Rate 7%
$1,036,571
Cap Rate 9%
$806,222
Alternative Uses
Best Use
Mixed Use
$1.04M
$907.0K – $1.21M
NOI $72,560 @ 7.0% cap · market cap 3.72%
Second Best
Retail
$1.02M
$891.4K – $1.19M
NOI $71,312 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,048 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
768
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property on Stock Island with mixed-use zoning.
Where is this mixed-use property located?
The property is located at 5670 Laurel Ave Key West, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime commercial property on Stock Island with **100' frontage on Laurel Ave**, offering convenient access to Overseas Hwy.; Large **5,258 sf. CBS building with covered and outdoor work areas.**; Mixed Use (MU) zoning allows for many commercial and residential uses.
