Turnkey Ground-Floor Office
812 Fleming Street #2 Key West, FL 33040
812 Fleming Street #2, Key West, FL, 33040
$415,000
For Sale
$415,000
Renovated, ground-floor office condo with natural light, private access, and ADA-compliant half bath.
Property Size665 SF
Price / SF$624.06
Days on Market15
Property Features for 812 Fleming Street #2
General Information
- Standard status
- Active
- Size
- 665 SF
Building Details
- Year Built
- 1933
Listing Agency
RE/MAX Keys Connection (KW)
(305) 304-0084
Listed by
Curtis A Skomp, CCIM · License #263500131
(305) 304-0084
Source
Laerrealty
Added: Jul 7 Updated: Jul 10 at 2:14 pm Checked: Jul 19 at 3:02 am
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 Keys Connection (KW)
Investment Insights
Based on property information with market context.
This boutique ground-floor office condo is located at Seafoam Condominiums and is offered turnkey. The unit is one of two commercial spaces in the building and totals 665 square feet of renovated interior space. Large pane windows provide natural light, and entry is through hand-made mahogany French doors from the sidewalk, with an additional interior side door that allows private access. Inside, the office features 12-foot ceilings and a practical layout with a front seating area and reception window, an administrator office, and a private office in the rear. The unit includes an ADA-compliant half bath and updates throughout, including new Brazilian cherry wood floors and keystone flooring in the bathroom, upgraded electrical and lighting, fresh paint, central A/C, and a wireless security system.
The Seafoam building is designed for condo owners and guests, with a coded entrance and atrium-style hallways. Amenities include a large in-ground concrete pool reserved for condo owners and guests. The building is described as being up to date with SIRS and milestone inspections and noted as never having flooded, with the property referenced as in X flood zone.
For professionals seeking a small office to own, this move-in-ready condo offers a compact, privacy-minded setup with dedicated spaces for reception and individual work. Building access is controlled, and in-building features such as coded entry and private unit access support a secure day-to-day work environment.
The Seafoam building is designed for condo owners and guests, with a coded entrance and atrium-style hallways. Amenities include a large in-ground concrete pool reserved for condo owners and guests. The building is described as being up to date with SIRS and milestone inspections and noted as never having flooded, with the property referenced as in X flood zone.
For professionals seeking a small office to own, this move-in-ready condo offers a compact, privacy-minded setup with dedicated spaces for reception and individual work. Building access is controlled, and in-building features such as coded entry and private unit access support a secure day-to-day work environment.
Key Highlights
- Renovated 665 SF ground‑floor office condo in Seafoam Condominiums, built in 1933
- 12' ceilings plus large pane windows for natural light
- Private access includes interior side door; entry off the sidewalk with hand‑made mahogany French doors
Local Financial Insights For Office B
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 | $20.0k | $30.00 |
| − Vacancy | −$3.2k | −$4.86 |
| EGI | $16.7k | $25.14 |
| − OpEx | −$4.2k | −$6.29 |
| NOI | $12.5k | $18.86 |
665 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$179.1K
$156.7K – $209.0K
NOI $12,539 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$267.5K
$234.1K – $312.1K
NOI $18,724 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Old Town Oasis ...
Spa & Massage Center
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Renovated, ground-floor office condo with natural light, private access, and ADA-compliant half bath.
Where is this office units located?
The property is located at 812 Fleming Street #2 Key West, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Renovated 665 SF ground‑floor office condo in Seafoam Condominiums, built in 1933; 12' ceilings plus large pane windows for natural light; Private access includes interior side door; entry off the sidewalk with hand‑made mahogany French doors