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    Stock Island Commercial Space For Rent Title is generated by Realmo AI

    6150 2Nd Street, Stock Island, FL 33040

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    Claim this Listing
    For Lease
    Under Contract
    $5,000/Mo $45 SF/Yr (calc)

    COMMERCIAL - Stock Island, FL

    Property size:
    1,307 SF
    Lot size:
    0.29 Acres
    Added:
    Oct 1, 2024
    Days on Market:
    599
    Last Refresh:
    May 22 at 12:06 pm

    Property Features for 6150 2Nd Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    MU - Mixed Use District
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Off Street
    Appliances
    No Appliances
    Standard status
    Active Under Contract
    APN
    00124440-000000
    Size
    1,307 SF
    Lot size
    0.29 Acres

    Building Details

    Year built
    1954
    Number of units
    1
    Flooring type
    Vinyl, Concrete
    Building materials
    CBS, Frame

    We can help!

    Listing Contact
    Team Gardner/Langley

    Listing agent Team Gardner/Langley License #BK612006

    Listing office Berkshire Hathaway HomeServices Knight & Gardner Realty 336 Duval St., Key West, FL

    Listing date Oct 1, 2024

    MLS# 611660

    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.

    HighLights

    • Prime location in Stock Island, just off US‑Highway 1.
    • Versatile 1,300 SF space suitable for various commercial ventures.
    • Equipped with fixtures and an outdoor gated area, ideal for an animal kennel.
    • High‑traffic area offering excellent visibility.
    • Adaptable space easily transformed for different commercial uses.
    • Off‑street parking available.

    Overview

    Located in Stock Island, just off US-Highway 1 and across from Wrecker's Cay housing complex and Beach Weekend Marina, this commercial space offers 1,300 square feet of area. The property is situated in a high-traffic area and zoned MU - Mixed Use District. The space is equipped with fixtures and an outdoor gated area, making it suitable for an animal kennel. The property's adaptability allows for transformation into other commercial ventures. The lot size is 0.29 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stock Island
    County
    Monroe
    State
    Florida
    Longitude
    -81.6849
    Latitude
    24.5796

    Nearby Similar for Lease

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      Stock Island Commercial Space Available

      High-visibility commercial property on Overseas Highway, minutes from Key West.
      5300 Overseas Highway, Stock Island, FL 33040
      View Details
    • $3,000/Mo
      1,110 SF

      Stock Island Commercial Property For Lease

      High-visibility commercial property on Overseas Highway, minutes from Key West.
      5300 Overseas Highway, Stock Island, FL 33040
      View Details
    • $5,000/Mo
      3,618 SF

      Stock Island Commercial Space For Rent

      Corner commercial space with outdoor tiki hut near Key West.
      6150 2Nd Street, Stock Island, FL 33040
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    FAQs

    What type of property is this?
    Retail space - Versatile 1,300 SF commercial space in high-traffic Stock Island location.
    Where is this retail space located?
    The property is located at 6150 2Nd Street Stock Island, FL.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    What are key features of this property?
    This property features: Prime location in Stock Island, just off US‑Highway 1.; Versatile 1,300 SF space suitable for various commercial ventures.; Equipped with fixtures and an outdoor gated area, ideal for an animal kennel.
    (305) 902-2447
    We can help!
    Listing Contact
    Team Gardner/Langley
    Real Estate License ID: BK612006
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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