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    Property profile & analytics

    624 Crandon Blvd Key Biscayne, FL 33149

    • Retail space
    • 2,697 SF
    For Lease
    View listing
    $88 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5254242
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 624 Crandon Blvd

    Year built
    1951
    Property size
    2,697 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Retail space
    APN
    24-5205-063-0080
    APU
    2452050630080

    Description

    This 952-square-foot retail space is available for lease at 624 Crandon Blvd #8 in Key Biscayne, Florida (33149). Located within a bustling shopping mall, this single-tenant space boasts high foot traffic and excellent visibility, situated near anchor stores and central walkways. Ideal for small retail businesses, boutiques, or pop-up shops, the property offers significant exposure to a steady flow of daily shoppers. The space is currently vacant and ready for immediate occupancy. Features include a new AC unit, bathroom, grease trap, updated light fixtures, and ample parking. The zoning designation is 6100, and the APN is 24-52-05-063-0080. This is a rare opportunity to secure a prime retail location in a high-traffic Key Biscayne shopping mall. Don't miss out on this chance to establish or expand your business in a thriving commercial environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,545,000
      Current use
      COMMERCIAL (GENERAL)
      $1,995,000
      Change: +29% Conversion: Easy
      OFFICE BUILDING
      $1,840,000
      Change: +19% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,765,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Key Biscayne
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1647
    Latitude
    25.6896
    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
    $43,612
    $0.00
    $0.00
    $2,831,850
    -
    $0.00
    $0.00
    $2,831,850

    Comparable in this City

    • Value Estimation
      $755,000
      1,044 SF

      260 Crandon Blvd, Unit C42

      RETAIL STORES (PERSONAL SERVICES) • 1,044 SF
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation by Request
      668 SF

      260 Crandon Blvd, Unit E35

      RETAIL STORES (PERSONAL SERVICES) • 668 SF
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation
      $745,000
      1,032 SF

      260 Crandon Blvd, Unit C21

      RETAIL STORES (PERSONAL SERVICES) • 1,032 SF
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation
      $570,000
      790 SF

      260 Crandon Blvd, Unit E19

      RETAIL STORES (PERSONAL SERVICES) • 790 SF
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation
      $620,000
      861 SF

      260 Crandon Blvd, Unit B46

      RETAIL STORES (PERSONAL SERVICES) • 861 SF
      260 Crandon Blvd, Key Biscayne, FL 33149-1536
      View Details
    • Value Estimation by Request
      530 SF

      971 Crandon Blvd

      RETAIL STORES (PERSONAL SERVICES) • 530 SF
      971 Crandon Blvd, Key Biscayne, FL 33149-2752
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Unit in Shopping Center

      Corner unit with high visibility in a vibrant shopping center.
      260 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • $2,950,000
      Pending

      Key Biscayne Residential Lot

      Prime lot to build your dream home in Key Biscayne.
      760 Allendale Rd, 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
    • $0.84 SF/Yr
      1,201 SF

      Key Biscayne Retail Space For Lease

      Prime Location, 1201 sq ft, 250 Parking Spaces
      600 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 Restaurant Opportunity

      Thriving Restaurant, Prime Location
      620 Crandon Blvd, Key Biscayne, FL 33149
      View Details
    • $88 SF/Yr
      952 SF

      Key Biscayne Retail Space for Lease

      Prime Key Biscayne retail, 952 sq ft.
      624 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
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    Key Biscayne, FL 33149
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    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
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