Six-Suite Mixed-Use
For Sale
$2,850,000
92295 Old State Road, Key Largo, FL 33070
Commercial Sale, Key Largo, FL
Property Size6,214 SF
Lot Size0.86 Acres
Price / SF$456.66
Days on Market178
Property Features for 92295 Old State Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
SC - Sub Urban Commercial
Bathrooms
3
Half bathrooms
6
Rooms
Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 1
Appliances
No Appliances
Subdivision
Tavernier Ocean Shores (92.0)
View
Water
Directions
Google Maps
Standard status
Active
APN
00482650-000000
Size
6,241 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TAVERNIER OCEAN SHORES PB4-112 KEY LARGO LOTS 1-3 & 27-62-38 ISLAND OF KEY LARGO PT LOT 8 OR517-691 OR1365-808 OR1387-24
Tax Annual Amount
16461
Legal Description
TAVERNIER OCEAN SHORES PB4-112 KEY LARGO LOTS 1-3 & 27-62-38 ISLAND OF KEY LARGO PT LOT 8 OR517-691 OR1365-808 OR1387-24
Utilities
Cooling system
Central Air
Building Details
Year built
1994
Floors in Building
1
Building materials
CBS
Roof type
Metal
Listing Agency:
Ocean Sotheby's International Realty
(305) 712-8888
Listed By:
Claudette Mell · License #3015412
(305) 393-1839
Added: Apr 13
Changed: Oct 1
Last Checked: Oct 7 at 5:06PM
MLS# 619473
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.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes six separate suites connected by exterior walkways on a 0.86-acre fenced lot. Each suite has a half bathroom, with two additional restrooms accessible from the walkways. The CBS building was constructed in 1994 and includes central air conditioning and a metal roof.
The property provides 313 feet of frontage along US-1 in Key Largo. It sits on the northbound side of the highway, with access to the southbound lane available through a cross street to the south. The building contains approximately 6,214 square feet according to the property remarks, while another source field reports 6,241 square feet; this conflicting measurement is not used here. Zoning is SC - Sub Urban Commercial.
The property provides 313 feet of frontage along US-1 in Key Largo. It sits on the northbound side of the highway, with access to the southbound lane available through a cross street to the south. The building contains approximately 6,214 square feet according to the property remarks, while another source field reports 6,241 square feet; this conflicting measurement is not used here. Zoning is SC - Sub Urban Commercial.
Key Highlights
- Six separate commercial suites connected by exterior walkways
- 313 feet of US‑1 highway frontage
- 0.86‑acre fenced lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,674
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,353,480
$2.4M
Cap Rate 7%
$1,681,057
$1.7M
Cap Rate 9%
$1,307,489
$1.3M
Market Conditions
NOI Build-Up for 6,241 SF
Gross rent
$187.2K $30.00/SF
− Vacancy
−$30.3K −$4.86/SF
EGI
$156.9K $25.14/SF
− OpEx
−$39.2K −$6.29/SF
NOI
$117.7K $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%
$2,353,480
Cap Rate 7%
$1,681,057
Cap Rate 9%
$1,307,489
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,674 @ 7.0% cap · market cap 4.13%
Second Best
Mixed Use
$1.23M
$1.08M – $1.44M
NOI $86,126 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,727 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 33070, FL
6,220
Population
4,366
Households
1.4
Avg Household Size
52
Median Age
35%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
1,481
Density / Sq Mi
$77,228
Median Household Income
$40,511
Median Earnings
$1,866
Median Rent
$695,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fenced commercial property with flexible suites, exterior access, central air, and SC - Sub Urban Commercial zoning.
Where is this mixed-use property located?
The property is located at 92295 Old State Road Key Largo, FL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Six separate commercial suites connected by exterior walkways; 313 feet of US‑1 highway frontage; 0.86‑acre fenced lot
