Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    620 Crandon Blvd Key Biscayne, FL 33149
    Back to Search
    Property profile & analytics

    620 Crandon Blvd, Key Biscayne, FL 33149

    View on Map
    • Retail space
    • 1,788 SF
    For Sale
    $2,450,000
    View Listing →
    Key Biscayne Retail Opportunity For Sale
    $2,450,000
    0.04 Acres

    Key Biscayne Retail Opportunity

    Prime retail space in high-traffic Key Biscayne strip center.

    620 Crandon Blvd, Key Biscayne, FL 33149
    View Listing
    Property ID
    US18-4829993
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 620 Crandon Blvd

    Year built
    1951
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Retail space
    APN
    24-5205-063-0070
    APU
    2452050630070

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 16, 2025 $1,750,000 620 Crandon Boulevard Re LLC Interhome Key Biscayne LLC Warranty Deed —
    Aug 13, 2018 — Interhome Key Biscayne LLC — Deed · related $1M · Branch Bk&tr
    — — Interhome Key Biscayne LLC — Deed Of Trust · related $700k · Branch Bk&tr
    — — Interhome Key Biscayne LLC — Deed Of Trust · related $371k · Colonial Bank
    — — Interhome Key Biscayne LLC — Deed Of Trust · related $1M · Branch Bk&tr

    Description

    This exceptional Key Biscayne restaurant presents a rare investment opportunity. Located at 620 Crandon Blvd #7, this single-tenant property is situated in a highly desirable area known for its vibrant atmosphere and significant foot traffic. Currently operating as a successful restaurant, the space benefits from excellent visibility and is perfectly positioned to capitalize on the strong local demand. The property's zoning is classified as 6100. The building consists of a single suite, offering a cohesive and manageable operation. While the square footage is not currently specified, the property's prime location and established business make it an attractive proposition for both seasoned restaurateurs and new entrants to the market. The property's APN is 24-52-05-063-0070. This is a chance to acquire a turnkey restaurant business in a coveted location, offering immediate income potential and significant long-term growth prospects. The property's success is underpinned by its strategic placement within the bustling Key Biscayne community, ensuring consistent customer flow and a strong reputation. Serious inquiries are encouraged to explore this unique opportunity to own a thriving business in a highly sought-after area. Further details regarding gross rent are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,025,000
      Current use
      COMMERCIAL (GENERAL)
      $1,320,000
      Change: +29% Conversion: Easy
      OFFICE BUILDING
      $1,220,000
      Change: +19% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,170,000
      Change: +14% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Key Biscayne
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1639
    Latitude
    25.6897
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,522
    $0.00
    $0.00
    $1,877,400
    -
    $0.00
    $0.00
    $1,877,400

    Comparable in this City

    • Value Estimation by Request
      332 SF

      260 Crandon Blvd, Unit D34

      RETAIL STORES (PERSONAL SERVICES)
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation
      $980,000
      1,381 SF

      971 Crandon Blvd

      RETAIL STORES (PERSONAL SERVICES)
      971 Crandon Blvd, Key Biscayne, FL 33149-2752
      View Details
    • Value Estimation
      $940,000
      1,320 SF

      971 Crandon Blvd, Unit 3

      RETAIL STORES (PERSONAL SERVICES)
      971 Crandon Blvd, Key Biscayne, FL 33149-2752
      View Details
    • Value Estimation
      $975,000
      1,351 SF

      606 Crandon Blvd, Unit 4

      RETAIL STORES (PERSONAL SERVICES)
      606 Crandon Blvd, Key Biscayne, FL 33149-2008
      View Details
    • Value Estimation
      $1,305,000
      1,806 SF

      608 Crandon Blvd, Unit 5

      RETAIL STORES (PERSONAL SERVICES)
      608 Crandon Blvd, Key Biscayne, FL 33149-2008
      View Details
    • Value Estimation by Request
      524 SF

      971 Crandon Blvd

      RETAIL STORES (PERSONAL SERVICES)
      971 Crandon Blvd, Key Biscayne, FL 33149-2752
      View Details

    Similar Nearby for Sale

    • $1,100,000

      Key Biscayne Commercial Condominium Space

      Commercial space in Key Biscayne's premier commercial condominium.
      260 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • $2,450,000

      Key Biscayne Retail Opportunity

      Prime retail space in high-traffic Key Biscayne location.
      620 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • $2,450,000
      0.04 Acres

      Key Biscayne Retail Opportunity

      Prime retail space in high-traffic Key Biscayne strip center.
      620 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • Contact for pricing
      1,409 SF

      Key Biscayne Condo with Ocean Views

      Two-bedroom condo with ocean and bay views in Key Biscayne.
      1121 Crandon Blvd, Key Biscayne, FL 33149
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      650 SF

      Retail Space in Key Biscayne

      Retail space available at the entrance to Key Biscayne.
      93 Harbor Dr, Key Biscayne, FL 33149
      View Details
    • Contact for pricing

      Key Biscayne Retail/Office Space

      Two-level retail/office space in established Key Biscayne shopping center.
      260 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • Contact for pricing

      Key Biscayne Restaurant Space for Lease

      Prime location, fully equipped, immediate occupancy.
      260 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • Contact for pricing

      The Square: Prime Retail Space

      Turnkey Retail Space, High Visibility
      260 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • Contact for pricing

      Key Biscayne Office Space Available

      Office spaces available in Key Biscayne, ranging from 656-1,610 SqFt.
      30 West Mashta Dr, Key Biscayne, FL 33149
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    620 Crandon Blvd
    Key Biscayne, FL 33149
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    620 Crandon Blvd, Key Biscayne, FL, 33149
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!