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    For Sale (18)

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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
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    Key West Multifamily Residence
    $2,175,000
    2,150 SF

    Key West Multifamily Residence

    Historic Key West home with modern amenities and income potential.

    1209 Packer St, Key West, FL 33040
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    Bayfront Land with Redevelopment Potential
    $4,900,000
    0.78 Acres

    Bayfront Land with Redevelopment Potential

    34,000 SF bayfront property with redevelopment potential in Islamorada.

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

    Waterfront Lot Ready for Construction

    Waterfront lot with active permit in Islamorada.

    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

    Unique investment opportunity with multiple development possibilities.

    81910 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    Enchanted Island: Private Island Paradise
    $25,000,000
    4.00 Acres

    Enchanted Island: Private Island Paradise

    Rare 4-acre private island near Key West with development potential.

    1 Seppala Way, Key West, FL 33040
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    Waterfront Land in Shark Key
    $3,300,000

    Waterfront Land in Shark Key

    Premier waterfront lot with ROGO allocation and architectural plans.

    31 Sea Lore Ln, Key West, FL 33040
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    Bayfront Land in Key Largo
    $4,850,000
    1.00 Acre

    Bayfront Land in Key Largo

    Rare waterfront property with building rights and sunrise/sunset views.

    36 Sunset Rd, Key Largo, FL 33037
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    Bay Front Buildable Lot
    $699,000

    Bay Front Buildable Lot

    Vacant land in gated community, Marathon, Florida Keys.

    120 Pirates Cv Dr, Marathon, FL 33050
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    Oceanfront Land with Building Permit
    $1,650,000
    0.53 Acres

    Oceanfront Land with Building Permit

    Rare oceanfront parcel with approved building permit in Plantation Key.

    229 Coral Rd, Plantation Key, FL 33036
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    Waterfront Lot with Active Permits
    $1,075,000

    Waterfront Lot with Active Permits

    Waterfront lot in Islamorada with active building and dock permits.

    142 Gulfview Dr, Islamorada, FL 33036
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    Plantation Key Vacant Land Opportunity
    $369,000
    1,169 SF

    Plantation Key Vacant Land Opportunity

    Vacant land with building rights in Plantation Key, Florida.

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

    Islamorada Oceanfront Acreage Opportunity

    7+ acres of pristine upland with 700ft beachfront.

    82900 Old Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    Waterfront Land with Mixed-Use Zoning
    $9,499,000
    47.03 Acres

    Waterfront Land with Mixed-Use Zoning

    Two parcels of land with mixed-use zoning and waterfront access.

    7000 5Th St, Key West, 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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    Gulf Front Estate in Marathon
    $9,950,000

    Gulf Front Estate in Marathon

    3.86-acre mixed-use commercial property with waterfront and highway 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 Long Key beachfront duplex with nightly rental potential.

    65620 Overseas Hwy, Long Key, FL 33001
    View details
    Cleared Lot Ready for Permitting
    $350,000
    0.17 Acres

    Cleared Lot Ready for Permitting

    Oversized lot in Key Largo with direct ocean access.

    23 Palm Dr, Key Largo, FL 33037
    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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