Fully Renovated Two-Story Medical
For Sale
$1,200,000
F-3140 Northside Dr, Key West, FL 33040
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 Market367
Property Features for F-3140 Northside Dr
General Information
Standard status
Active
Size
2,045 SF
Taxes and HOA fees
Annual Taxes
$4,739
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
Listed By:
Team Gardner/Langley · License #KWA.2032
(305) 294-5155
Source:
Exprealty
Added: Oct 15, 2025
Changed: Oct 15
Last Checked: Oct 15 at 1:22AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,558
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,160
$771.2K
Cap Rate 7%
$550,829
$550.8K
Cap Rate 9%
$428,422
$428.4K
Market Conditions
NOI Build-Up for 2,045 SF
Gross rent
$61.4K $30.00/SF
− Vacancy
−$9.9K −$4.86/SF
EGI
$51.4K $25.14/SF
− OpEx
−$12.9K −$6.29/SF
NOI
$38.6K $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%
$771,160
Cap Rate 7%
$550,829
Cap Rate 9%
$428,422
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,345
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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
