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    Apartment Building with Off-Street Parking Title is generated by Realmo AI

    912 Pohalski Street, Key West, FL 33040

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    For Sale
    $2,250,000

    Six-unit apartment building with off-street parking and separate electric and water meters for each apartment.

    Property size:
    3,876 SF
    Price / SF:
    $580/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:48 am

    Property Features for 912 Pohalski Street

    General Information

    Standard status
    Active
    Size
    3,876 SF

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Curtis A Skomp, CCIM
    Curtis A Skomp, CCIM

    Listing agent Curtis A Skomp, CCIM License #263500131

    Listing office RE/MAX Keys Connection (KW)

    Listing date Jun 4, 2026

    Source Laerrealty

    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 RE/MAX Keys Connection (KW)

    HighLights

    • 6‑unit apartment building built in 1988 with 3,876 SF total building area
    • Unit mix includes three 1BD/1BA, two 2BD/1BA, and one 3BD/1BA for 10 bedrooms total and 6 baths
    • Each apartment has separate electric and water meters
    • 3,598 SF lot with street access along Pohalski St. to Havana Lane and 6 off‑street parking spaces
    • Gross rents total $14,500 per month with limited expenses
    • Lot is in BFE flood zone (former X flood zone) and described as high and dry

    Overview

    This two-story CBS and frame apartment building contains six legal units with a total of 10 bedrooms and 6 bathrooms. Unit mix includes three 1-bedroom/1-bath apartments, two 2-bedroom/1-bath apartments, and one 3-bedroom/1-bath apartment. The property totals 3,876 square feet and sits on a 3,598 square foot lot, with the lot running from Pohalski Street to Havana Lane to provide straightforward access for residents. Each apartment has its own separate electric and water meter.

    The building is located in Old Town at 912 Pohalski Street, Key West, Florida. With off-street parking for six vehicles, the site is designed to connect tenants to both their apartments and parking spaces without relying on on-street parking. The property is described as being in a BFE flood zone, formerly an X flood zone, and is characterized as high and dry.

    For buyers, this is a multi-unit income property configuration that can support an investor or operator looking for long-term hold strategies, including consideration as a 1031 exchange replacement property. It may also fit housing needs where separate unit utilities and dedicated parking matter, such as employee housing.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Pharmacy Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.7922521
    Latitude
    24.5562249

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    FAQs

    What type of property is this?
    Apartment building - Six-unit apartment building with off-street parking and separate electric and water meters for each apartment.
    Where is this apartment building located?
    The property is located at 912 Pohalski Street Key West, FL.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: 6‑unit apartment building built in 1988 with 3,876 SF total building area; Unit mix includes three 1BD/1BA, two 2BD/1BA, and one 3BD/1BA for 10 bedrooms total and 6 baths; Each apartment has separate electric and water meters
    (305) 304-0084
    We can help!
    Listing Contact
    Curtis A Skomp, CCIM
    Curtis A Skomp, CCIM
    Real Estate License ID: 263500131
    Learn More
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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.

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    912 Pohalski Street, Key West, FL 33040
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