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    For Sale (23)

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    Key West Income-Producing Triplex
    $1,299,000
    2,699 SF

    Key West Income-Producing Triplex

    Triplex in Key West with strong income and parking.

    1614 Dennis St, Key West, FL 33040
    View details
    Historic Key West Residence
    $2,175,000
    2,150 SF

    Historic Key West Residence

    Old Town residence blending historic charm with modern refinement.

    1209 Packer St, Key West, FL 33040
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    Land in Little Torch Key
    $105,000
    0.14 Acres

    Land in Little Torch Key

    Land with dedication points available in Little Torch Key, FL.

    Vacant Land, Little Torch Key, FL 33042
    View details
    Bayfront Land in Islamorada, FL
    $4,900,000
    0.78 Acres

    Bayfront Land in Islamorada, FL

    Prime bayfront property with development potential and existing cottage.

    150 List St Upper Matecumbe Ky, Islamorada, FL 33036
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    Waterfront Lot Ready for Construction
    $4,645,000
    1.21 Acres

    Waterfront Lot Ready for Construction

    Waterfront lot with active permit in Lower Matecumbe, Florida.

    75750 Overseas Hwy, Islamorada, FL 33036
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    Islamorada Land with Development Potential
    $6,500,000
    0.70 Acres

    Islamorada Land with Development Potential

    Spacious land with restaurant, bar, and development opportunities.

    81910 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    Private Island Paradise Ready to Build
    $25,000,000
    4.00 Acres

    Private Island Paradise Ready to Build

    4-acre private island with permits near Key West, Florida.

    1 Seppala Way, Key West, FL 33040
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    Waterfront Land in Key Largo
    $4,650,000
    0.91 Acres

    Waterfront Land in Key Largo

    Rare bayfront building opportunity with sunrise and sunset views.

    36 Sunset Rd, Key Largo, FL 33037
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    Bay Front Buildable Lot
    $499,000
    0.26 Acres

    Bay Front Buildable Lot

    Bay front buildable lot in gated community, Marathon, Florida Keys.

    120 Pirates Cv Dr, Marathon, FL 33050
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    Value-Add Fourplex Investment Opportunity
    $1,700,000
    3,000 SF

    Value-Add Fourplex Investment Opportunity

    Fourplex with income potential after renovations in Key West, FL.

    1224 2Nd St, Key West, FL 33040
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    Oceanside Marina Liveaboard Slip
    $325,000

    Oceanside Marina Liveaboard Slip

    40' liveaboard slip with resort amenities and ocean access.

    5950 Peninsular Ave, Stock Island, FL 33040
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    Oceanside Marina Liveaboard Slip
    $325,000

    Oceanside Marina Liveaboard Slip

    45' liveaboard slip with resort amenities and deep-water access.

    5950 Peninsular Ave, Stock Island, FL 33040
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    Waterfront Lot with Active Permits
    $1,075,000
    0.16 Acres

    Waterfront Lot with Active Permits

    Islamorada waterfront lot with active building and dock permits.

    142 Gulfview Dr, Islamorada, FL 33036
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    Plantation Key Land Opportunity
    $369,000
    0.08 Acres

    Plantation Key Land Opportunity

    Land with building rights near Founders Park, restaurants, and schools.

    135 Airstream Ln, Plantation Key, FL 33070
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    Islamorada Oceanfront Acreage Opportunity
    $6,750,000
    7.78 Acres

    Islamorada Oceanfront Acreage Opportunity

    7+ acre oceanfront property with 700 feet of beachfront.

    82900 Old Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    Waterfront Land Ideal for Development
    $9,499,000
    77.46 Acres

    Waterfront Land Ideal for Development

    Two parcels of land perfect for commercial or residential development.

    7000 5Th St, Stock Island, FL 33040
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    Vacant Land in Little Torch
    $64,750

    Vacant Land in Little Torch

    Vacant land available in Little Torch Key, Florida.

    21 Aloha Dr, Little Torch Key, FL 33042
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    Key West Legal Duplex
    $1,650,000
    2,016 SF

    Key West Legal Duplex

    Historic Key West duplex, potential single-family conversion, income-generating.

    1022 Fleming St, Key West, FL 33040
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    Gulf Front Estate in Marathon
    $9,950,000
    3.86 Acres

    Gulf Front Estate in Marathon

    3.86-acre mixed-use commercial property with highway and water frontage.

    6500-6600 Overseas Hwy, Marathon, FL 33050
    View details
    Beachfront Multifamily Investment Opportunity
    $3,899,000
    1,647 SF

    Beachfront Multifamily Investment Opportunity

    Iconic beachfront multifamily property with income potential in Long Key.

    65620 Overseas Hwy, Long Key, FL 33001
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    Cleared Lot in Key Largo
    $350,000
    0.18 Acres

    Cleared Lot in Key Largo

    Oversized lot ready for permitting near ocean access.

    23 Palm Dr, Key Largo, FL 33037
    View details
    Land For Sale Islamorada
    $1,075,000

    Land For Sale Islamorada

    Land available in Islamorada, Florida.

    142 Gulfview Dr, Islamorada, FL 33036
    View details
    Land Available in Islamorada, FL
    $4,645,000

    Land Available in Islamorada, FL

    Land for sale in Monroe County, Islamorada, Florida.

    75750 Overseas Hwy, Islamorada, FL 33036
    View details

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    Ocean Sotheby's International Realty
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Ocean Sotheby's International Realty
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