7
Map
$1,450,000
●
Commercial -
For Sale
260 Crandon Blvd #C40
Key Biscayne, FL 33149
Studio
0 Bath
1,044 Ft²
$8,954
Est. Monthly
$630
HOA / Fees
About This Property
Investment opportunity to acquire a fully leased retail unit at The
Square, one of Key Biscayne's most established commercial centers.
The property is occupied by a successful Cafe & Gelato under a NNN
lease, with the tenant responsible for operating expenses,
providing stable in-place income and minimal landlord obligations.
Located on Crandon Boulevard, The Square is a vibrant 55-unit
open-air shopping center with a diverse mix of restaurants,
boutiques, salons, and professional offices.
Unit Size
1,044 Ft²
Days on Market
119 days
Land Size
0.02 acres
Price per sqft
$1,389
Property Type
Commercial
Property Taxes
$1,204
HOA Dues
$630
Year Built
1952
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 months ago (Miami MLS #A12048925)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 13, 2026 | Listed by Great Properties International LLC | $1,450,000 | |
| Listed by Great Properties International LLC | |||
| Jun 4, 2024 | No longer available | - | |
| No longer available | |||
| Mar 14, 2024 | Listed | $1,370,000 | |
| Listed | |||
| | |||
|
PRIME Investment Opportunity. Fully NNN(tenant reimburses for all expenses) - NOI $76,441 - 5.58% Cap - 4% Annual Increases - Unit in main plaza of Shopping Center. Rented to Narbona, a highly successful restaurant/market with other locations in the city. Shopping center located in an affluent Zip Code with a captive client base. Tenant occupies 4 units in the plaza and has recently expanded into this unit. Lease has 5 years remaining with another 5 year renewal option. High foot traffic, other tenants include Bank of America and First Horizon among other successful restaurants, salons and retailers. Shopping center is on Crandon Blvd, the main road in Key Biscayne. Unit has 1,044 sq ft.
| |||
Property Highlights
Parking Available
Air Conditioning
Exterior Details
Square Footage: 1044
Year Built: 1981
Building Name: The Square at Key Biscayne
Building Area Total: 1044
Building Area Units: Square Feet
Lot Features: Shopping Center
Lot Size Area: 1044
Lot Size Units: Square Feet
Lot Size Acres: 0.024
Lot Size Square Feet: 1044
Water Source: Public
Financial Details
Tax Annual Amount: $14,447
Lease Considered: Yes
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : Public Sewer
Location Details
HOA Fee: $630
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
03/19/2026
|
Loft
|
-
|
32000 ft²
|
$7,200
Loft
-
32000 ft²
|
$6,800
-5.56%
09/30/2026
|
Francoise Wynne
Ashton Real Estate, Inc.
| |
|
11/22/2023
|
Loft
|
-
|
-
|
$1,400,000
Loft
-
|
-
-
|
James Salas
E Realty International, Inc.
| |
|
09/29/2023
| |
Loft
|
-
|
-
|
$350,000
Loft
-
|
-
-
|
Raul Gil
Business Unlimited Realty
|
|
09/27/2023
|
Loft
|
-
|
-
|
$1,198,700
Loft
-
|
-
-
|
Victoria De Giraldo
BHHS EWM Realty
| |
|
12/09/2021
|
Loft
|
-
|
-
|
$1,672,800
Loft
-
|
$1,360,000
-18.70%
07/20/2022
|
Edward Schmidt
E. L. S. Realty Corp.
| |
|
10/20/2021
|
Loft
|
-
|
-
|
$1,100,000
Loft
-
|
-
-
|
Denise Estefan
Avanti Way
| |
|
04/21/2021
|
Loft
|
-
|
-
|
$1,100,000
Loft
-
|
-
-
|
Denise Estefan
Avanti Way
| |
|
12/31/2018
|
Loft
|
-
|
-
|
$990,000
Loft
-
|
$970,000
-2.02%
11/20/2019
|
Gus Martinez
Keller Williams Realty SW
| |
|
09/30/2018
| |
Studio
|
-
|
-
|
-
Studio
-
|
-
-
|
-
|
Building Info
260 Crandon Boulevard
260 Crandon Boulevard, Key Biscayne, FL 33149
- 3 Units for Sale
About Key Biscayne
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Listed by: Fernando Echeverri
Great Properties International LLC
Last Updated: 2 months ago
Data Source: Miami MLS, MLS# A12048925
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Great Properties International LLC
Last Updated: 2 months ago
Data Source: Miami MLS, MLS# A12048925
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017