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    Dominica Ln Ramrod Key, FL 33042

    Sponsored
    For Sale
    $789,900

    Vacant Land - Ramrod Key, FL

    Days on Market:
    197
    Last Refresh:
    Jan 30 at 3:06 pm

    Property Features for Dominica Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    IS - Improved Subivision District
    APN
    00206860-000000

    Utilities

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa H Ferringo
    Lisa H Ferringo

    Coldwell Banker Schmitt Lower Keys (KW) (305) 872-3050

    Listing agent Lisa H Ferringo (305) 872-3050 License #605677

    Listing date Jul 18, 2025

    MLS# 615842 Listing URL

    Copyright © 2026 Key West Association 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

    Oceanfront Land in Ramrod Key

    This property features a gorgeous open ocean location totaling four lots, boasting over a quarter acre of land with a sheltered canal and private beach. It presents an incredible investment opportunity to build a dream home in paradise with a transferable building right, which are readily available on the market and provide an easy path to development. This unique opportunity is in an ideal location, on one of the last remaining open ocean lots in the Lower Keys. Alternatively, investors could recoup returns on initial investments to develop and resell. Enjoy deep-draft boating from a sheltered boating canal, with no-bridge access to the Atlantic Ocean, or enjoy swimming, kayaking, and paddleboarding from your own backyard, with open ocean views. Nestled near the end of a quiet street in the desirable Breezeswept Beach Estates neighborhood, it is conveniently located near hotels, dining, and stores, and centrally located in proximity to both Marathon and Key West. The property is located in Ramrod Key, FL 33042, and is zoned IS - Improved Subdivision District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Ramrod Key
    County
    Monroe
    State
    Florida
    Longitude
    -81.40649
    Latitude
    24.648327

    Nearby Similar for Sale

    • $12,250,000

      Florida Keys Income-Producing Assets

      Rare opportunity: hotel, restaurant, licenses, dive shop, vessel.
      27340 Overseas Hwy, Ramrod Key, FL 33042
      View Details

    FAQs

    What type of property is this?
    Land - Quarter-acre oceanfront land with canal access in the Florida Keys.
    Where is this land located?
    The property is located at Dominica Ln Ramrod Key, FL.
    What is the asking price?
    The asking price for this property is $789,900.
    What are key features of this property?
    This property features: - Open Oceanfront property with over a quarter acre of land, sheltered canal, and private beach; - Enjoy deep-draft boating with no-bridge access to the Atlantic Ocean; - Transferable building right available for easy development
    (305) 797-1221
    Request Owner's contact information
    Dominica Ln Ramrod Key, FL 33042
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    Ramrod Key, FL 33042
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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
    Dominica Ln Ramrod Key, FL 33042
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    We can help!
    Listing Contact
    Lisa H Ferringo
    Lisa H Ferringo
    Real Estate License ID: 605677
    (305) 797-1221
    Learn more
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