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Waterfront · Condominium
$2,300,000$912 / sqft
600 Grapetree Dr, Key Biscayne FL 33149
Listed
3
Bedrooms
3
Bathrooms
2,523 sqft
Interior
1974
Year built
$3,300 / mo
HOA
Condominium
Type
About this home
Spacious 2,523 SF residence on the 6th floor of Mar Azul Condominium, offering direct ocean views and a desirable southeast exposure. An oversized balcony extends the living space outdoors, while the renovated open kitchen with stainless steel appliances connects seamlessly to an exceptionally large living and dining area—creating an impressive space for entertaining and everyday living. The oversized primary suite features two walk-in closets and a spacious divided bathroom. Originally designed as a 3-bedroom, 3-bath residence, the current layout was reconfigured to create an expansive second bedroom/family room with its own full bath, plus a separate den with another full bathroom. The flexible floor plan can easily be enjoyed as is or converted back into a true 3-bedroom residence. Tile floors throughout & carpet in primary & DEN. TWO assigned covered parking spaces conveniently located on the second floor. Mar Azul is one of Key Biscayne’s classic oceanfront condominiums, known for its expansive beachfront setting, direct beach access, community pool, gym with spectacular ocean views, 24-hour security and beautifully maintained grounds. Impressive party room at the highest floor of the condo. A unique opportunity to combine generous interior space, direct ocean views and true beachfront living in Key Biscayne. Easy to show.
Features
- Closet Cabinetry
- Cooking Island
- Elevator
- Walk-In Closet(s)
- Den/Library/Office
- None
- Barbeque
- Open Balcony
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 3-bed rentals in Key Biscayne, from 40 active listings; the middle half ask $10,000–$18,000.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.