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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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What to Know Before You Buy a Commercial Building You Plan to Lease Out

What to Know Before You Buy a Commercial Building You Plan to Lease OutIf you’re buying a commercial building so you can lease it out, here’s what you need to know first.

Mixed Use Commercial Spaces

If you’re looking to increase your financial or investment portfolio by adding some real property, there are many options to consider. You could try to flip some houses in a low cost area slated to grow. Or, you could get into the commercial real estate market. This may include any different number of options for commercial spaces. Mixed use properties have much to offer, both for tenants and investors.

  • Office space
  • Eateries
  • Storage
  • Residential space
  • Public space

Each of these categories provides a strong potential for long term and reliable income opportunities. You can be a commercial landlord, or property manager, or you can become a silent investor and hire a property management company to handle the details. Although there is much money to be made by purchasing and leasing commercial real estate, there are also some pitfalls you want to keep an eye out for along the way.

Insurance Liability and Costs

As one of the biggest expenses in commercial real estate, insurance premiums seem to be constantly on the rise. Depending on type of space you have, you will will need to purchase specific policies. In the case of mixed use buildings, you may need additional fire coverage for one area and internal flood insurance for a separate business. Leasing to office building tenants or residential customers is a little easier in terms of insurance policies, because these groups are not considered high risk in most cases. Individual residents can even purchase their own renter’s insurance since you won’t be required to cover their personal property.

Zoning Laws and Parking Permit Changes

Many things are subject to change for any property owner. So, you want to ensure that you are up to date with all zoning meetings. Attend them. It’s your responsibility to know what’s going on in the community and give your input when it could potentially impact your own business. Parking changes, such as adding metered parking, closing off street parking, or proposing to close or change fee structures for nearby parking garages all have a potential impact on your bottom line. Don’t risk losing your profits by not being aware of upcoming community changes. Perform your due diligence regularly and enjoy the rewards of commercial real estate.

Hot Key West Business Opportunities

6440 Maloney Avenue $12,000,000

6440 Maloney Avenue Stock Island, Florida

9,418 SqFt

1622 Overseas Highway $9,900,000

1622 Overseas Highway MARATHON, Florida

3,400 SqFt

59073 Overseas Highway $7,990,000

59073 Overseas Highway MARATHON, Florida

2 Beds 22,069 SqFt

919 - 921 Duval Street $3,995,000

919 - 921 Duval Street KEY WEST, Florida

9 Beds 6 Baths 4,173 SqFt

3574 Overseas Highway 1-7 $3,750,000

3574 Overseas Highway 1-7 MARATHON, Florida

5 Beds 5 Baths 8,413 SqFt

99304 Overseas Highway $3,700,000

99304 Overseas Highway KEY LARGO, Florida

7,651 SqFt

100150 Overseas Highway $2,900,000

100150 Overseas Highway KEY LARGO, Florida

2,436 SqFt

217 La Paloma Road $2,445,000

217 La Paloma Road KEY LARGO, Florida

4 Beds 3 Baths 2,784 SqFt 0.210 Acres

909 Frances Street $2,400,000

909 Frances Street KEY WEST, Florida

3 Beds 3 Baths 1,728 SqFt 0.040 Acres

19269 Bad George Road $1,650,000

19269 Bad George Road Sugarloaf, Florida

6,205 SqFt

8349 Overseas Highway $1,499,000

8349 Overseas Highway MARATHON, Florida

2,179 SqFt

188 La Paloma Road $1,400,000

188 La Paloma Road KEY LARGO, Florida

3 Beds 2 Baths 1,392 SqFt 0.150 Acres

372 Mahogany Drive $1,400,000

372 Mahogany Drive KEY LARGO, Florida

4 Beds 3 Baths 1,661 SqFt

916 Red Bird Road $1,300,000

916 Red Bird Road KEY LARGO, Florida

5 Beds 3 Baths 2,556 SqFt 0.110 Acres

00 Calusa Road $1,200,000

00 Calusa Road KEY LARGO, Florida

163,785 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:

  • All Businesses for Sale
  • Office Buildings
  • Hotels, Motels & Bed & Breakfasts
  • Bars & Restaurants
  • Marinas for Sale in Key West
  • Investment Properties
  • Business Opportunities

Newest Key West Commercial Properties on the Market

Space is on US 1 (Truman Ave) coming into Old Town. Large display windows in enclosed room off entry foyer. Could be storage for merchandise below or some type of seating use. Enter the main space through double glass doors into one large room, approximately 14' X 50'.  Kitchenette and bathroom at the back of the space.  Wood floors and high ceilings appoint the room. Street parking in front or on side streets.  High traffic location and close to everything. Studio, retail or office are all possible uses. $2,400 Active

1026 Truman Avenue down KEY WEST, Florida

1 Baths 1,658 SqFt

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

View All

Posted in: Buying a Business, Buying Commercial Real Estate, Buying Tips, Commercial Real Estate, Investing, Leasing, Leasing Commercial Real Estate Tagged: Buying a Commercial Building, Fixer-Upper, Mixed-Use Commercial Spaces, Office Space, Public Space, Residential Buildings, Restaurants

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Key West Office

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305-296-1400 Office

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

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

Business Address:
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305-444-7111 Office

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

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