Mixed-Use Property with Work
New
For Sale
$1,749,000
5670 Laurel Avenue, Stock Island, FL 33040
Commercial Sale, Stock Island, FL
Property Size5,258 SF
Lot Size0.29 Acres
Price / SF$332.64
Days on Market1
Property Features for 5670 Laurel Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU - Mixed Use District
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street, Guest
Appliances
No Appliances
Subdivision
Maloney Sub (5.0)
View
Water
Directions
On Stock Island Overseas Hwy to 2nd St. then left onto Laurel Ave.
Standard status
Active
APN
00124410-000000
Size
5,258 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BK 31 LT 7 AND LT 8 MCDONALDS SUB PB1-55 STOCK ISLAND G67-18 G73-110 OR624-88 OR624-89 OR522-377 OR796-2190 OR826-1492 O
Tax Annual Amount
6816
Legal Description
BK 31 LT 7 AND LT 8 MCDONALDS SUB PB1-55 STOCK ISLAND G67-18 G73-110 OR624-88 OR624-89 OR522-377 OR796-2190 OR826-1492 O
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
covered and outdoor work areas
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Concrete
Roof type
Other
Listing Agency:
RE/MAX Keys Connection (KW)
(305) 296-1400
Listed By:
Curtis A Skomp, CCIM · License #263500131
(305) 745-9088
Added: Aug 28
Last Checked: Aug 28 at 10:06PM
MLS# 621142
Copyright © 2026 Key West Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 5,258-square-foot, ground-level CBS building constructed in 1980. The structure is described as being in fair condition and includes covered and outdoor work areas. A portion is occupied by the owner, while another portion is leased to a cycle shop. Wall and window unit cooling and off-street parking are present.
The property is located on Laurel Avenue behind a freestanding CVS and has access to Overseas Hwy. County zoning is MU – Mixed Use District, supporting a range of commercial and residential uses. The site is within an AE flood zone and consists of two lots measuring 50 feet by 125 feet each, creating 100 feet of Laurel Avenue frontage and a total depth of 125 feet.
Occupational licenses associated with the property cover public service marine repair, towing and salvage, retail sales, auto repair, detailing, towing, and rentals. A new building may be considered, while adjoining properties contain newer structures.
The property is located on Laurel Avenue behind a freestanding CVS and has access to Overseas Hwy. County zoning is MU – Mixed Use District, supporting a range of commercial and residential uses. The site is within an AE flood zone and consists of two lots measuring 50 feet by 125 feet each, creating 100 feet of Laurel Avenue frontage and a total depth of 125 feet.
Occupational licenses associated with the property cover public service marine repair, towing and salvage, retail sales, auto repair, detailing, towing, and rentals. A new building may be considered, while adjoining properties contain newer structures.
Key Highlights
- Two 50' x 125' lots totaling 0.29 acres
- 5,258‑square‑foot ground‑level CBS building constructed in 1980
- 100 feet of frontage and 125 feet of depth on Laurel Avenue
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
4.15%
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 4.15%
Second Best
Retail
$1.02M
$891.4K – $1.19M
NOI $71,312 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,048 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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 - Ground-level commercial building with covered and open work areas, mixed-use zoning, and access to Overseas Hwy.
Where is this mixed-use property located?
The property is located at 5670 Laurel Avenue Stock Island, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Two 50' x 125' lots totaling 0.29 acres; 5,258‑square‑foot ground‑level CBS building constructed in 1980; 100 feet of frontage and 125 feet of depth on Laurel Avenue
