Historic Property in Everglades National
For Sale
$799,000
238 Mamie St, Chokoloskee, FL 34138
Commercial property with potential for tourism-related ventures in the Everglades.
Property Size1,722 SF
Lot Size0.29 Acres
Price / SF$463
Days on Market543
Property Features for 238 Mamie St
General Information
Standard status
Active
Size
1,722 SF
Lot size
0.29 Acres
Taxes and HOA fees
Annual Taxes
$1,652
Listing Agency:
Epique Realty, INC
(239) 227-7186
Listed By:
Craig Daniels
(239) 227-7186
Source:
Exprealty
Added: Feb 25, 2025
Changed: Aug 20
Last Checked: Aug 21 at 10:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Epique Realty, INC
Investment Insights
Based on property information with market context.
The property, located at 238 Mamie Street, Chokoloskee, FL, is a historic site in the Everglades National Park. The 1,722 square foot commercial building, constructed in 1963, is suited for ventures such as a restaurant, gift shop, or eco-tourism center. Outdoor seating enhances its atmosphere. The location provides access to three marinas and the 10,000 Islands. A new Everglades National Park building is planned for the area. The property includes a 3-bedroom, 2-bath mobile home and a 1-bedroom, 1-bath apartment. There is potential to acquire additional housing, including a 3/2 single-family home, a 2/2 trailer, and an extra lot. The property features frame construction, a metal roof, municipal water, and municipal sewer. Handicap features are present for accessibility. The property is located near the Smallwood Store & Museum.
Key Highlights
- Historic Florida site in the heart of Everglades National Park with limitless potential for tourism‑related ventures.
- Includes a commercial building suitable for a restaurant, gift shop, or eco‑tourism center.
- On‑site living accommodations: a 3‑bedroom, 2‑bath mobile home and a 1‑bedroom, 1‑bath apartment.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,999
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$679,980
$680.0K
Cap Rate 7%
$485,700
$485.7K
Cap Rate 9%
$377,767
$377.8K
Market Conditions
NOI Build-Up for 1,722 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.5K $27.00/SF
− Vacancy
−$1.2K −$0.68/SF
EGI
$45.3K $26.33/SF
− OpEx
−$11.3K −$6.58/SF
NOI
$34.0K $19.74/SF
Area
Collier County, FL
Vacancy
2.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$679,980
Cap Rate 7%
$485,700
Cap Rate 9%
$377,767
Alternative Uses
Best Use
Specialty Retail
$485.7K
$425.0K – $566.7K
NOI $33,999 @ 7.0% cap · market cap 4.26%
Second Best
Hotel Hospitality
$115.7K
$101.2K – $135.0K
NOI $8,098 @ 7.0% cap · market cap 1.01%
Theoretical Best
Office A
$691.1K
$604.7K – $806.3K
NOI $48,378 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 34138, FL
346
Population
590
Households
0.6
Avg Household Size
60
Median Age
100%
High-School Grad
0.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$95,712
Median Household Income
$48,576
Median Earnings
$220,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hospitality property - Commercial property with potential for tourism-related ventures in the Everglades.
Where is this hospitality property located?
The property is located at 238 Mamie St Chokoloskee, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Historic Florida site in the heart of Everglades National Park with limitless potential for tourism‑related ventures.; Includes a commercial building suitable for a restaurant, gift shop, or eco‑tourism center.; On‑site living accommodations: a 3‑bedroom, 2‑bath mobile home and a 1‑bedroom, 1‑bath apartment.
