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Waterfront · Condominium
$2,850,000$1,509 / sqft
600 Grapetree Dr, Key Biscayne FL 33149
Listed
3
Bedrooms
2
Bathrooms
1,889 sqft
Interior
1974
Year built
$2,663 / mo
HOA
Condominium
Type
About this home
Located on the 11th and highest residential floor of MAR AZUL, an exclusive boutique oceanfront condominium with only 126 residences, this fully renovated property offers 2,344 Sq.Ft. (as per appraisal, ASKING $1216/sq ft!!) and an UNIQUE & EXCLUSIVE beachfront view to the ocean. Designed for those who value truly unique properties, it showcases what many consider one of the finest views on the island—an unobstructed panorama of the Atlantic Ocean, lush tropical greenery, and the South Beach skyline in the distance. Every bedroom features exterior windows with open sky views, filling the residence with natural light. The oversized oceanfront primary suite enjoys breathtaking direct water views, a beautifully remodeled bathroom, and a spacious walk-in closet. Two additional bedrooms share a well-designed Jack-and-Jill bathroom. One bedroom with its own, private balcony. The stunning, move-in-ready interiors include a fully renovated kitchen with custom cabinetry, beautifully updated bathrooms, and expansive living and dining areas framed by floor-to-ceiling windows overlooking the ocean. Spacious Laundry room. MAR AZUL offers direct beach access, a 24-hour attended lobby, oceanfront fitness center, swimming pool, party room at the PH level facing the ocean, spacious meeting/business room. TWO assigned parking spaces. A rare opportunity to own one of the most exceptional residences in one of Key Biscayne's most exclusive boutique buildings. Ready to move in. Easy to show.
Features
- Elevator
- Ocean View
- Direct Ocean
Leasing
- Minimum lease
- 182 days
- Leases permitted per year
- 1
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
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 39 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.