Fully Renovated Two-Story Medical
F-3140 Northside Dr Key West, FL 33040
F-3140 Northside Dr, Key West, FL, 33040
$1,200,000
For Sale
$1,200,000
Two-story office building with renovated medical practice space, multiple units, and recent metal roofing and impact windows.
Property Size2,045 SF
Price / SF$586.80
Days on Market122
Property Features for F-3140 Northside Dr
General Information
- Standard status
- Active
- Size
- 2,045 SF
Listing agency
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 294-5155
Listed by
Team Gardner/Langley · License #BK612006
(305) 902-2447
Source
Exprealty
Added: Mar 24 Updated: Jul 22 at 2:57PM Checked: Jul 22 at 2:57PM
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 Berkshire Hathaway HomeServices Knight & Gardner Realty
Investment Insights
Based on property information with market context.
This fully renovated two-story office building includes an immaculate ground-floor medical practice with a bathroom and kitchenette. The second floor features a spacious office suite, a bathroom, and two additional units.
The property is located on Northside Drive in Key West and sits in a busy area surrounded by other professional services. Public remarks also note ample parking.
Recent updates include new metal roofing and impact-resistant windows and doors, designed to improve durability and reduce maintenance. The building is described as having net leasable area of 2,045 SF.
The property is located on Northside Drive in Key West and sits in a busy area surrounded by other professional services. Public remarks also note ample parking.
Recent updates include new metal roofing and impact-resistant windows and doors, designed to improve durability and reduce maintenance. The building is described as having net leasable area of 2,045 SF.
Key Highlights
- Fully renovated two‑story office building in Key West on Northside Drive
- Net leasable area of 2,045 SF with a medical practice on the ground floor
- Ground floor includes a bathroom and kitchenette; second floor includes an office suite, bathroom, and two additional units
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 | $61.4k | $30.00 |
| − Vacancy | −$9.9k | −$4.86 |
| EGI | $51.4k | $25.14 |
| − OpEx | −$12.9k | −$6.29 |
| NOI | $38.6k | $18.86 |
2,045 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$550.8K
$482.0K – $642.6K
NOI $38,558 @ 7.0% cap · market cap 3.21%
Second Best
Healthcare Medical
$396.7K
$347.1K – $462.8K
NOI $27,767 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$822.6K
$719.8K – $959.7K
NOI $57,581 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Two-story office building with renovated medical practice space, multiple units, and recent metal roofing and impact windows.
Where is this office units located?
The property is located at F-3140 Northside Dr Key West, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully renovated two‑story office building in Key West on Northside Drive; Net leasable area of 2,045 SF with a medical practice on the ground floor; Ground floor includes a bathroom and kitchenette; second floor includes an office suite, bathroom, and two additional units
