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    Key Largo Vacant Residential Lot Title is generated by Realmo AI

    Gumbo Limbo Drive, Key Largo, FL 33037

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    Claim this Listing
    For Sale
    Under Contract
    $185,000

    LAND - Key Largo, FL

    Lot size:
    0.12 Acres
    Added:
    Nov 20, 2025
    Days on Market:
    183
    Last Refresh:
    May 22 at 9:06 pm

    Property Features for Gumbo Limbo Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    IS - Improved Subivision
    Standard status
    Active Under Contract
    APN
    00466160-000000
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    BK 12 LT 3 PAMELA VILLA KEY LARGO PB3-125 OR220-43 OR565-741D/C OR586-167 OR832-947 OR969-1110 OR1694-411 OR2019-2155/5
    Tax Annual Amount
    673

    We can help!

    Listing Contact
    Terry Canto,Top Producer

    Listing agent Terry Canto,Top Producer License #626852

    Listing office American Caribbean Real Estate, Christie's International Real Estate 99900 Overseas Hwy, Key Largo, FL

    Listing date Nov 20, 2025

    MLS# 617397 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.

    HighLights

    • Desirable Key Largo location in a single‑family subdivision
    • Tier 3 ROGO status with 30 points, indicating a high position on the ROGO list
    • Sewer drop in place, simplifying the building process
    • Proximity to restaurants, shops, and Publix
    • Opportunity to purchase adjacent lots, including one with a ROGO exemption, to create a family compound or build multiple homes
    • Peaceful and quiet getaway location, only one hour from Miami

    Overview

    This 0.12-acre vacant lot, measuring 50 x 105, is located in Key Largo, Florida, within a desirable single-family subdivision. The property is zoned IS - Improved Subdivision. It presents an opportunity to submit plans and apply for a permit to build a home. Classified as Tier 3 with 30 points, it starts high on the ROGO list. The location offers proximity to restaurants, shops, and Publix, providing access to the amenities of the Florida Keys. Situated approximately one hour from Miami, it offers a peaceful island lifestyle. A sewer drop is in place. The adjacent cottage on two lots is also for sale, offering the potential to create a family compound on all three lots or build three homes, one with ROGO exemption. All three lots have a sewer vent installed. A survey is on file.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.414139
    Latitude
    25.118938

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    FAQs

    What type of property is this?
    Residential land & home lot - 50 x 105 vacant lot in Key Largo.
    Where is this residential land & home lot located?
    The property is located at Gumbo Limbo Drive Key Largo, FL.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: Desirable Key Largo location in a single‑family subdivision; Tier 3 ROGO status with 30 points, indicating a high position on the ROGO list; Sewer drop in place, simplifying the building process
    (305) 394-3037
    We can help!
    Listing Contact
    Terry Canto,Top Producer
    Real Estate License ID: 626852
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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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