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Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

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3 Types of Rental Property Investments for New Investors

3 Types of Rental Property Investments for New InvestorsFor those who are looking for their first rental property investment, diversity in the market only serves to confuse them. There are just too many variables to the equation that leads to a successful investment. New investors can make better choices by discovering the best types of property investments in the rental market.

Single-Family Units

These homes are especially attractive to young families. A recent report by Forbes showed that single-family homebuilding rose 11 percent in December 2019, the highest ever since 2007, which was before the economic crisis.

To be more profitable, pick homes that have sound structure but require a bit of renovation. These homes will be priced much lower than the current market rate. This is to provide you with a protective cushion in case the market value takes a dive. Once renovated, this type of home can bring you steady income for years to come, provided you pick an established neighborhood that provides values to the renters.

Single-Tenant Triple-Net Properties

This type of property is perfect for investors who don’t have the time to actively manage the property. Basically, you’ll lease out your property to a single tenant. Most of the time, the tenant will be a company and they will be responsible for all expenses related to the property. The typical lease terms are from 10 to 25 years, renewable. If you have KFC, FedEx, or Ford as tenants, you’ve hit the jackpot.

Condos & Apartments

For those with more ample funds to invest, condos & apartments are synonymous with security and prosperity. These types of properties are often in their best conditions with little management required, and they attract well-behaved highly-educated tenants/vacation-renters, which is a landlord’s dream come true.

Knowing which types of rental properties yield the best result helps investors make better investment choices in the real estate market. If you plan to purchase on a mortgage, do careful calculations before you commit to ensure you don’t get caught in a cash shortage in the process.

Key West Investment Condos

RARE OPPORTUNITY!! Are you looking for oceanfront real estate that will pay for itself and then some? This newly renovated, picture perfect, two bedroom, two bath condo located on beautiful Coco Plum Beach is your golden ticket! Expect to gross $75,000 - $90,000 annually. Royal Plum condominiums enjoy loyal, repeat guests, year after year. And the oceanview 2/2's are consistently the most popular and are nearly always fully booked. Manage it yourself or take advantage of on-site property management which will make this a truly effortless investment. This particular unit has undergone an exceptional remodel to include an all new kitchen, complete with recessed dimmable lighting and new appliances. And you will find new lighting, ceiling fans, fresh paint, professional reupholstery, and new bedding throughout! Without a doubt unit 4 is the prettiest condo in Royal Plum! Don't wait to make an offer. This is the lovely BEACH RETREAT you deserve! $525,000 Active

133 Coco Plum Drive 4 MARATHON, Florida

2 Beds 2 Baths 880 SqFt

Be a Co-Owner of these million dollar views!  Own a piece of Keys paradise at a fraction of the price!  This is not a time share, this is actual deeded ownership in BAYFRONT property! The best part is the amenities! This is true luxury, resort-style living!  Everything is included in the quarterly maintenance fees like taxes, insurances, 2 boats, property maintenance, gym, pool, private dockage and cabanas,  You can even reserve multiple units at a time for those large gatherings....too many amenities to list. Call me to get the full understanding of the benefits of ownership at Fisherman's Cove and for a showing. $237,000 Active

104000 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 2,191 SqFt 0.440 Acres

Best views and dockage, best location, top floor, best island in Islamorada.  Enjoy ocean views and the soothing breezes that come with top floor southeast exposure. Stroll down the 450 feet of sandy beach and  and a large dock with tiki.  Huge freeform pool, fishing pier, and boat dockage (first come first served - no additional fee) that accommodates boats up to 32 feet in length. Islamorada's most sought after condo community includes a community club house, oceanfront state of the art gym, and a sauna. Additional storage downstairs. $997,000 Active

83201 Old Highway 517 ISLAMORADA, Florida

2 Beds 2 Baths 1,275 SqFt

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!

In the meantime, check out these 1-click searches:

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Newest Key West Commercial Properties on the Market

Built in 2007, this commercial, mixed-use property is situated on White Street off of Elgin Lane very close to Eaton Street and minutes to the Historic Seaport. The current commercial tenant is using the office space for chiropractor services. As you enter the front door, the current layout is as follows. A waiting area and enclosed front desk greet you. To the left of the waiting area is a private windowed office. As you continue into the space there is a treatment room to the right and a supply room to the left. Either of those rooms could easily be transformed into another office. Further on there is an efficiency style kitchen and an ADA compliant bathroom. A set of floating desks lies beside the kitchenette. There is the possibility here for 4 offices and a floating workspace. The property offers 3 off-street parking spaces for the business including an ADA compliant spot in the back of the building.  A private entrance in the rear of the building will lead you up a flight of stairs to the two one-bedroom, one bath units. Each unit offers a small kitchen and loft area. These apartments are in the affordable rental pool. ($1,600 each per month) Great place to live and work! $1,150,000 Active

412 White Street 101 KEY WEST, Florida

2 Beds 3 Baths 1,513 SqFt

Ideal Small Commercial Space for Lease in Old Town.  Excellent location next to the laundry mat on the corner of Eaton and Elizabeth Street's. Perfect for small retailer or business professional with approximately 500sq.ft. of space and street visibility. $2,950 Active

627 Eaton Street down KEY WEST, Florida

1 Baths 500 SqFt

Perfect private office space with windows available for lease office 214 is approx. ~162sf, perfect for two+ desk. Join the friendly business environment catering to a diversity of local small business owners located the 626 Josephine Parker Office Suites in Old Town Key West. Common area breakroom & restrooms, electric and water included. Sales tax is in addition to the monthly rent quoted. Parking is assignable and $150 in addition to rent each month. $1,000 Active

626 Josephine Parker Drive 214 KEY WEST, Florida

2 Baths 162 SqFt

Very rare opportunity to own a piece of Key West History! The iconic Coffee Mill in Old Town, Key West is one of the most recognizable buildings on the island. Built prior to 1907, the property was home to an active coffee bean processing plant until the 1950's. In recent years, the building was famously home to one of Key West's most popular dance studios -- and now is being used as a holistic medicine and wellness center. The current owners have done extensive renovations to update the space to today's standards while maintaining many of the historical features of the property. Updates include a complete modernization of the electrical and plumbing systems, new central A/C and ductwork, masterful restoration of the original hardwood floors, and the construction of private treatment rooms and a business office -- all while preserving the original exterior and character of the building. Additional features include multiple skylights, a period correct metal shingle roof, beautiful historic arched transom windows salvaged from Henry Flagler's Casa Marina hotel, and an updated bathroom. The property is up to current building code and ADA compliant, and was awarded a Ceramic Star for historic preservation and a Certificate of Excellence by The Historic Florida Keys Foundation. The Coffee Mill has been a staple in Old Town for over 100 years and continues to be an important part of the historic district. Commemorating its roots, a section of the milling equipment has been preserved and is on display in the main room of the Mill. Located just steps from world famous Duval Street and walking or biking distance to the island's best restaurants, shopping, and galleries. If you're looking for a space that's as unique as Key West itself, look no further than the iconic Coffee Mill. Easy to show! $1,000,000 Active

916 Pohalski Street KEY WEST, Florida

1 Baths 1,256 SqFt

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Posted in: Buying Commercial Real Estate, Condos, Investing, Rentals, Renting Commercial Real Estate Tagged: condo investment, Investing, investing in condos, investment rental property, Investor Tips, Rental Properties, rental property, vacation rentals

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Key West Office

RE/MAX ALL KEYS REAL ESTATE
305-296-1400 Office

Business Address:
517 Duval St Suite 200, Key West, FL 33040

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Key Largo Office

RE/MAX ALL KEYS REAL ESTATE
305-451-0060 Office

Business Address:
98880 Overseas Hwy, Key Largo, FL 33037

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Miami Office

RE/MAX Advance Realty
305-444-7111 Office

Business Address:
7220 Red Rd., South Miami, FL 33143

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33040, 33043, 33042, 33050, 33036, 33037
Key West, Stock Island, Big Pine Keys, Marathon, Islamorada, Key Largo

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