Two-Story Office Building with
L-3152 Northside Dr Key West, FL 33040
L-3152 Northside Dr, Key West, FL, 33040
$899,000
For Sale
$899,000
Well-maintained two-story CBS office building with four privately rented suites, private half baths, and included parking.
Property Size2,045 SF
Price / SF$439.61
Days on Market273
Property Features for L-3152 Northside Dr
General Information
- Standard status
- Active
- Size
- 2,045 SF
Listing agency
Vested Palm Real Estate and Home Services
(305) 509-0469
Listed by
Bernice Schafer · License #3442282
(305) 509-0469
Source
Exprealty
Added: Oct 23, 2025 Updated: Jul 21 at 3:09PM Checked: Jul 21 at 3:09PM
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 Vested Palm Real Estate and Home Services
Investment Insights
Based on property information with market context.
This well-maintained two-story CBS office building includes four tenant-occupied office suites, each with a private half bath and approximately 364 square feet per suite. The first-floor suites are individually metered and each includes separate HVAC, while the upstairs suites share electricity and central AC. Renovations completed in 2019 include luxury commercial vinyl flooring, upgraded bathrooms, and a kitchenette addition in one of the second-floor suites.
Recent building improvements include impact-resistant windows, Hardie board siding, and a new roof. The property includes parking and is positioned in the professional hub of Offices at Northside, with convenient central access and visibility.
For governance, the HOA is $1,626 per month and covers exterior insurance and maintenance. Seller-provided leasing details indicate two long-term leases, one downstairs unit is month-to-month, and one upstairs suite is scheduled to be available for rent on 6/1/2025 with the tenant leaving earlier for a qualified replacement. Please contact the listing agent for P&L reports and further lease information.
Recent building improvements include impact-resistant windows, Hardie board siding, and a new roof. The property includes parking and is positioned in the professional hub of Offices at Northside, with convenient central access and visibility.
For governance, the HOA is $1,626 per month and covers exterior insurance and maintenance. Seller-provided leasing details indicate two long-term leases, one downstairs unit is month-to-month, and one upstairs suite is scheduled to be available for rent on 6/1/2025 with the tenant leaving earlier for a qualified replacement. Please contact the listing agent for P&L reports and further lease information.
Key Highlights
- Two‑story CBS office building with 4 tenant‑occupied office suites, each with a private half bath.
- Total net leasable area of 2,045 sq. ft.; each suite is about 364 sq. ft.
- First‑floor suites have individual meters and separate HVAC systems; upstairs suites share electricity and central AC.
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 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.6K
$719.8K – $959.7K
NOI $57,581 @ 7.0% cap · market cap 6.41%
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 - Well-maintained two-story CBS office building with four privately rented suites, private half baths, and included parking.
Where is this office units located?
The property is located at L-3152 Northside Dr Key West, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑story CBS office building with 4 tenant‑occupied office suites, each with a private half bath.; Total net leasable area of 2,045 sq. ft.; each suite is about 364 sq. ft.; First‑floor suites have individual meters and separate HVAC systems; upstairs suites share electricity and central AC.
