Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vacant Lot in Key Largo Title is generated by Realmo AI

    693 N Lake Drive, Key Largo, FL 33037

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 693 N Lake Drive, Key Largo, FL
    For Sale
    $200,000

    LAND - Key Largo, FL

    Lot size:
    0.17 Acres
    Added:
    Jan 8, 2024
    Days on Market:
    865
    Last Refresh:
    May 22 at 9:06 pm

    Property Features for 693 N Lake Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    IS - Improved Subivision
    Security features
    Security
    Standard status
    Active
    APN
    00548720-000000
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    BK 6 LT 9 TWIN LAKES PB3-160 KEY LARGO OR533-255
    Tax Annual Amount
    1034

    We can help!

    Listing Contact
    Lisa Frins P.A.
    Lisa Frins P.A.

    Listing agent Lisa Frins P.A. License #0672871

    Listing office Berkshire Hathaway HomeServices Keys Real Estate - Islamorada 85992 Overseas Hwy, Islamorada, FL

    Listing date Jan 8, 2024

    MLS# 608092 Listing URL

    Copyright © 2026 Florida Keys Board 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

    • Vacant lot ready for building, offering a blank canvas for your dream home.
    • Located in a desirable Key Largo subdivision.
    • Ideal location.
    • Nearby boat ramp.
    • Tier 3 lot.

    Overview

    This is a vacant lot located in a desirable Key Largo subdivision. The lot is in Tier 3 and offers an opportunity to build a dream home in an ideal location. A boat ramp is located nearby. The lot size is 0.17 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.410791
    Latitude
    25.132182

    Nearby Similar for Sale

    • $2,995,000
      6,241 SF

      Prime US-1 Mixed-Use Opportunity

      Mixed-use commercial building with highway frontage in Tavernier, Florida.
      92295 Old State Road, Key Largo, FL 33070
      View Details
    • $2,965,000
      2,400 SF

      Key Largo Commercial Investment Opportunity

      2,400 SF building with adjacent lot in Key Largo.
      102970 Overseas Highway, Key Largo, FL 33037
      View Details
    • $2,890,000
      3,112 SF

      Oceanfront Compound with Concrete Dock

      Unique oceanfront property with two homes and a 276-foot dock.
      34 Atlantic Drive, Key Largo, FL 33037
      View Details
    • $799,000
      1,496 SF

      Key Largo Legal Duplex

      Updated duplex near Harry Harris Park, generating $5350 monthly.
      102 Harry Harris Drive, Key Largo, FL 33070
      View Details
    • $1,469,000
      2,562 SF

      Key Largo Commercial Property For Sale

      Prime commercial property with US-1 frontage in the heart of Tavernier.
      91760 Overseas Highway, Key Largo, FL 33070
      View Details
    • $2,850,000
      1,075 SF

      Key Largo Commercial Property For Sale

      Commercial property with marina license and highway frontage in Key Largo.
      98468 Overseas Highway, Key Largo, FL 33037
      View Details
    • $2,495,000
      4,778 SF

      Oceanfront Lot Ready to Build

      Permitted oceanfront lot in Key Largo's Buccaneer Point.
      116 N Bounty Lane, Key Largo, FL 33037
      View Details
    • $2,965,000
      2,400 SF

      Key Largo Retail Investment Opportunity

      2,400 SF building with adjacent lot in Key Largo.
      102970 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $1,790,000
      4,910 SF

      Key Largo Mixed-Use Property

      High-visibility mixed-use property with commercial storefront and residential apartment.
      100636 Overseas Highway, Key Largo, FL 33037
      View Details
    • $4,900,000
      7,026 SF

      Iconic Waterfront Restaurant and Bar

      Legendary waterfront bar and restaurant in Key Largo, Florida.
      58000 Card Sound Road, Key Largo, FL 33037
      View Details
    • $14,550,000
      23,092 SF

      Key Largo Inn Investment Opportunity

      Turnkey inn with development potential in Key Largo, Florida.
      99202 Overseas Highway, Key Largo, FL 33037
      View Details
    • $13,499,000
      20,084 SF

      Waterfront Property Ideal for Rehab

      Premier 1.77-acre waterfront property suited for luxury healthcare.
      97340-60 Overseas Highway, Key Largo, FL 33037
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Desirable Key Largo subdivision, build your dream home!
    Where is this residential land & home lot located?
    The property is located at 693 N Lake Drive Key Largo, FL.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Vacant lot ready for building, offering a blank canvas for your dream home.; Located in a desirable Key Largo subdivision.; Ideal location.
    (305) 522-1479
    We can help!
    Listing Contact
    Lisa Frins P.A.
    Lisa Frins P.A.
    Real Estate License ID: 0672871
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    693 N Lake Drive, Key Largo, FL 33037
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!