Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    308 Sombrero Beach Rd Other City - In The State Of Florida, FL 33050

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Duplex with dock access, close to Sombrero Beach.

    Type:Multifamily
    Added:
    Mar 16, 2024
    Days on Market:
    763
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 308 Sombrero Beach Rd Other City - In The

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1974

    We can help!

    Listing Contact
    Jenine Garcia

    Listing agent Jenine Garcia License #3115004

    Listing office Horizon Homes Realty Corp

    Listing date Mar 16, 2024

    Source Crexi

    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 Horizon Homes Realty Corp

    Overview

    Marathon Duplex Near Sombrero Beach

    Located in Marathon, Florida Keys, this property is near Sombrero Beach and features no HOA fees. Situated along a walking and lit bike path leading to Sombrero Beach, the property includes a hot tub and hammock. A 50ft concrete dock provides deep water canal access to open water in approximately 15-20 minutes. The property has hurricane impact windows and doors, a jacuzzi, gazebo, and BBQ area. Both units have renovated and fully furnished kitchens and bathrooms, and fully equipped kitchens. The property is vacation licensed and suitable for rental. The property consists of two units (top and bottom half of the building) out of four, situated on one side of the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    State Of Florida
    County
    Leon
    State
    Florida
    Longitude
    -81.0717
    Latitude
    24.7161

    Nearby Similar for Sale

    • $450,000

      Profitable Coastal Rental Business Opportunity

      Turnkey rental business with high sales and growth potential.
      2239 15th St D, Other City - In The State Of Florida, FL 34237
      View Details
    • $125,000

      Turnkey Cafe in Downtown Tampa

      Fully equipped French cafe and bakery in prime Tampa location.
      777 N Ashley Dr Tampa, FLSuite D-2, Other City - In The State Of Florida, FL 33602
      View Details
    • $300,000

      Turnkey Pharmacy in Busy Plaza

      Retail and compounding pharmacy with established customer base and contracts.
      Other City - In The State Of Florida, FL 34238
      View Details
    • $170,000

      Turn-Key Italian Restaurant Opportunity

      Fully equipped Italian restaurant with indoor and outdoor seating.
      Other City - In The State Of Florida, FL 33772
      View Details
    • $1,753,600
      5,312 SF

      New Construction Quadplex Near Disney

      Under construction quadplex near Disney with resort membership included.
      7438 EXCITEMENT DR, Other City - In The State Of Florida, FL 34747
      View Details
    • $399,900

      Waterfront RV Lot with Boat Lift

      Luxurious corner RV lot with boat lift and bay views.
      150 Smallwood Dr. #147, Other City - In The State Of Florida, FL 34138
      View Details
    • $1,499,000
      10,822 SF

      Dade City Bank Branch Building

      10,822 SF office and retail building in downtown Dade City.
      14210 7th, Other City - In The State Of Florida, FL 33523
      View Details
    • $30,000

      Polk County Nursery Opportunity

      Nursery property with active permit and owner financing.
      0 N Commonwealth Ave, Other City - In The State Of Florida, FL 33868
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex with dock access, close to Sombrero Beach.
    Where is this duplex located?
    The property is located at 308 Sombrero Beach Rd Other City - In The State Of Florida, FL.
    What is the asking price?
    The asking price for this property is $1,125,000.
    What are key features of this property?
    This property features: 50ft Concrete Dock with Deep Water Canal (15‑20 minutes to open water); Direct Access to Walking/Bike Path Leading to Sombrero Beach; Hurricane Impact Windows & Doors
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jenine Garcia
    Real Estate License ID: 3115004
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!