Waterfront Duplex with
596 W Shore Drive Summerland Key, FL 33042
596 W Shore Drive, Summerland Key, FL, 33042
$998,000
For Sale
Under Contract
$998,000
MULTI_FAMILY - Summerland Key, FL
Property Size2,572 SF
Lot Size0.13 Acres
Price / SF$388.02
Days on Market54
Property Features for 596 W Shore Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- IS - Improved Subivision
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3
- Parking features
- Off Street
- Patio and Porch features
- Patio
- Appliances
- Refrigerator, Range
- Standard status
- Active Under Contract
- APN
- 00191840000000
- Size
- 2,572 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Bk 2 Lt 17 Summerland Key Cove Addition #5 Pb 5-40 Summerland Key Or460-527 Or701-661 Or894-707/708 Or1018-1220 Or1022-3
- Tax Annual Amount
- 8201
Utilities
- Cooling system
- Central Air
- Water front
- 1
Building Details
- Year built
- 1963
- Flooring type
- Terrazzo, Tile
- Building materials
- CBS
- Roof type
- Metal
Listing agency
Berkshire Hathaway Home Services Keys Real Estate - Big Pine Key
(305) 735-4962
Listed by
Miranda Dender
(404) 456-8359
Added: May 29 Updated: Jul 17 at 11:16PM Checked: Jul 21 at 11:06PM
MLS# 620094
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 for-sale waterfront duplex at 594-596 W. Shore Drive is set up as two separate units with their own outdoor space. The property is two stories, with approximately 1,392 square feet downstairs and approximately 1,180 square feet upstairs. The downstairs unit offers 3 bedrooms and 2 bathrooms, while the upstairs unit offers 2 bedrooms and 1 bathroom. Both units have access to tiki huts for outdoor entertaining, and the waterfront setup includes approximately 60 feet of dockage split between the two units, providing about 30 feet per side.
The duplex sits on a wide, deep boating canal with excellent boating access. The listing notes convenient proximity to Summerland Airport. Zoning is listed as IS – Improved Subdivision.
For buyers looking for a flexible residential income setup in the Lower Keys, this configuration supports a range of tenant and household scenarios, including multi-generational living, employee housing, or investors seeking a waterfront duplex asset. The two-unit layout and unit-specific outdoor amenities, combined with the shared dockage split, can help tenants maintain independent living while still enjoying the waterfront experience.
The duplex sits on a wide, deep boating canal with excellent boating access. The listing notes convenient proximity to Summerland Airport. Zoning is listed as IS – Improved Subdivision.
For buyers looking for a flexible residential income setup in the Lower Keys, this configuration supports a range of tenant and household scenarios, including multi-generational living, employee housing, or investors seeking a waterfront duplex asset. The two-unit layout and unit-specific outdoor amenities, combined with the shared dockage split, can help tenants maintain independent living while still enjoying the waterfront experience.
Key Highlights
- Waterfront duplex on a wide, deep boating canal with 60 ft. of dockage (about 30 ft. per side).
- Two‑story multifamily at 594‑596 W. Shore Drive with approximately 1,392 sq. ft. downstairs and 1,180 sq. ft. upstairs.
- Upstairs unit: 2 bedrooms and 1 bathroom; downstairs unit: 3 bedrooms and 2 bathrooms.
Local Financial Insights For Multifamily LT 5
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 | $65.7k | $25.56 |
| − Vacancy | −$4.2k | −$1.63 |
| EGI | $61.6k | $23.93 |
| − OpEx | −$18.5k | −$7.18 |
| NOI | $43.1k | $16.75 |
2,572 SF · lease $25.56/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$615.5K
$538.6K – $718.1K
NOI $43,087 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$570.2K
$498.9K – $665.2K
NOI $39,911 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.03M
$905.2K – $1.21M
NOI $72,419 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-story waterfront duplex on a boating canal with 60 feet of dockage and separate tiki huts for each unit.
Where is this duplex located?
The property is located at 596 W Shore Drive Summerland Key, FL.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Waterfront duplex on a wide, deep boating canal with 60 ft. of dockage (about 30 ft. per side).; Two‑story multifamily at 594‑596 W. Shore Drive with approximately 1,392 sq. ft. downstairs and 1,180 sq. ft. upstairs.; Upstairs unit: 2 bedrooms and 1 bathroom; downstairs unit: 3 bedrooms and 2 bathrooms.
