Renovated Ground-Floor Office
For Sale
$399,000
812 Fleming Street, Key West, FL 33040
Commercial Sale, Key West, FL
Property Size665 SF
Price / SF$600
Days on Market530
Property Features for 812 Fleming Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HRO - Historic Residentia
Bedrooms
1
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Appliances
No Appliances
Subdivision
Seafoam (2.0)
View
Water
Directions
800 Block of one way Fleming St.
Standard status
Active
APN
00008320-000104
Size
665 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 2 SEAFOAM CONDOMINIUM A CONDO STORE OR1284-2063/65 OR1514-783/84 OR2348-1699/1700 OR2522-867C
Tax Annual Amount
2100
HOA Fee
$1,286 Monthly
Legal Description
UNIT 2 SEAFOAM CONDOMINIUM A CONDO STORE OR1284-2063/65 OR1514-783/84 OR2348-1699/1700 OR2522-867C
Utilities
Cooling system
Central Air
Amenities
coded entrance
atrium hallways
pool
Building Details
Year built
1933
Floors in Building
1
Number of units
1
Flooring type
Wood
Building materials
Frame
Roof type
Other
Listing Agency:
RE/MAX Keys Connection (KW)
(305) 296-1400
Listed By:
Curtis A Skomp, CCIM · License #3350136
(305) 745-9088
Added: Apr 25, 2025
Changed: Oct 1
Last Checked: Oct 6 at 7:06PM
MLS# 614786
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 665-square-foot office condominium occupies the ground level of Seafoam Condominiums at 812 Fleming Street. The floor plan provides a front reception area with a service window, an administrator’s office, and a private rear office, along with an ADA-compliant half bath. Twelve-foot ceilings, large exterior windows, and separate sidewalk and interior entrances add functional flexibility. Improvements include Brazilian cherry flooring, keystone bathroom flooring, upgraded electrical and lighting systems, fresh paint, central air conditioning, and wireless security.
The property is positioned in Key West’s Old Town, with walking and biking access to surrounding destinations. Building amenities include a coded entry, atrium-style hallways, and a concrete pool reserved for condominium owners and guests. The building is identified as being in an X flood zone and has completed SIRS and milestone inspections.
The property is positioned in Key West’s Old Town, with walking and biking access to surrounding destinations. Building amenities include a coded entry, atrium-style hallways, and a concrete pool reserved for condominium owners and guests. The building is identified as being in an X flood zone and has completed SIRS and milestone inspections.
Key Highlights
- 665 SF ground‑floor office condominium at 812 Fleming Street
- Two‑office layout with reception area and administrator’s office
- 12' ceilings and large‑pane windows provide natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,539
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,780
$250.8K
Cap Rate 7%
$179,129
$179.1K
Cap Rate 9%
$139,322
$139.3K
Market Conditions
NOI Build-Up for 665 SF
Gross rent
$20.0K $30.00/SF
− Vacancy
−$3.2K −$4.86/SF
EGI
$16.7K $25.14/SF
− OpEx
−$4.2K −$6.29/SF
NOI
$12.5K $18.86/SF
Area
Monroe County, FL
Vacancy
16.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$250,780
Cap Rate 7%
$179,129
Cap Rate 9%
$139,322
Alternative Uses
Best Use
Office B
$179.1K
$156.7K – $209.0K
NOI $12,539 @ 7.0% cap · market cap 3.14%
Second Best
Healthcare Medical
$129.0K
$112.9K – $150.5K
NOI $9,029 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$267.5K
$234.1K – $312.1K
NOI $18,724 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,512
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Office units - Small-format office condominium with two private offices, a reception area, central air, and updated finishes.
Where is this office units located?
The property is located at 812 Fleming Street Key West, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 665 SF ground‑floor office condominium at 812 Fleming Street; Two‑office layout with reception area and administrator’s office; 12' ceilings and large‑pane windows provide natural light
