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    The Largest CRE Database in the US with Over 1 Million Listings

    Barnes Sound Main Ky Key Largo, FL 33037

    Sponsored
    For Sale
    $5,650,000

    Vacant Land - Key Largo, FL

    Lot size:
    145.50 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 2 at 3:06 am

    Property Features for Barnes Sound Main Ky

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    OS - Offshore Island District
    APN
    00091640-000000
    Lot size
    145.50 Acres

    Utilities

    Water front features
    Beach Front, Oceanfront, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    KELLY K SHAW PA

    American Caribbean Real Estate (305) 664-4966

    Listing agent KELLY K SHAW PA (305) 664-4966 License #0583328

    Listing date Jan 20, 2026

    MLS# 616391 Listing URL

    Copyright © 2026 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Private Island with Sandy Beaches

    Main Key is a 145.5-acre private island located in Barnes Sound, in the Ocean Reef area of Monroe County, within the Florida Keys. The island features pristine, white sandy beaches. Approximately 12 acres of the island are upland elevation suitable for construction. An active dock and lift permit is in place for construction on the east side of the southeast beach, originating from the Government Lot. Plans include a 295-foot long dock with a 20-foot platform for a lift and a 30-foot boat slip. A second dock permit is being applied for on the south side of Main Key, which will be 135 feet long with a 30 to 40-foot platform and seven heavy pilings to moor a large vessel or work barge up to 100 feet in length. A house was previously built on the island. The location, known as "The Tides of Main Key," is recognized in South Florida marine weather forecasts on TV, radio, NOAA weather, and online for tide information in the Upper Keys and Key Largo. The tide station at Main Key, established in the 1930s, continues to be reported in tide forecasts. Before online resources, "The tides at Main Key in Barnes Sound" was a frequently referenced tide station for the western bay waters of North Key Largo and remains an official tide station for projected tides.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.403651
    Latitude
    25.238175

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    FAQs

    What type of property is this?
    Recreation land - 145.5-acre private island with dock permits in Key Largo, FL
    Where is this recreation land located?
    The property is located at Barnes Sound Main Ky Key Largo, FL.
    What is the asking price?
    The asking price for this property is $5,650,000.
    What are key features of this property?
    This property features: - Private 145.5-acre island in the Florida Keys.; - Pristine, white sandy beaches and approximately 12 acres of upland elevation suitable for building.; - Active dock and lift permit for a 295' dock with lift platform and 30' boat slip on the East side.
    (305) 664-7303
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    Barnes Sound Main Ky Key Largo, FL 33037
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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
    Barnes Sound Main Ky Key Largo, FL 33037
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    We can help!
    Listing Contact
    KELLY K SHAW PA
    Real Estate License ID: 0583328
    (305) 664-7303
    Learn more
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