Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Canal-Front Buildable Lot Title is generated by Realmo AI

    Martinique Lane, Ramrod Key, FL 33042

    View on Map
    Claim this Listing
    New
    For Sale
    $225,000

    LAND - Ramrod Key, FL

    Lot size:
    0.14 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for Martinique Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    IS - Improved Subivision
    Standard status
    Active
    APN
    00202700-000000
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BK 5 LT 30 BREEZESWEPT BEACH ESTATES PB4-143 RAMROD KEY OR493-197 OR1057-887QC OR1777-1358 OR2063-1720/21 OR2680-1302/03
    Tax Annual Amount
    1185

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Kasey Fey

    Listing agent Kasey Fey License #SL3375663

    Listing office Berkshire Hathaway HomeServices Keys Real Estate - Lower Keys 30085 Overseas Highway, Marathon, FL

    Listing date Jun 4, 2026

    MLS# 620166 Listing URL

    Copyright © 2026 Marathon and Lower Keys 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.

    HighLights

    • Mostly cleared and filled parcel on Ramrod Key for building a custom home
    • Canal‑front lot with 6,000 sq ft lot size
    • No permits included; building requires approval through the Monroe County ROGO point system
    • Lot is Tier 3 in the ROGO point system, starting at 30 points
    • Adjacent house is also for sale (see MLS #620164)

    Overview

    This offering is a canal-front residential lot on Ramrod Key that is mostly cleared and filled and ready for site-specific planning. The parcel is described as having no existing permits. As provided, development and building approval must proceed through Monroe County’s Rate of Growth Ordinance (ROGO) point system, and the lot is identified as Tier 3, starting at 30 points. Buyers will need to confirm requirements, timelines, and allowable permitting steps with the Monroe County Building Department before design and construction planning.

    The property is located on Martinique Lane in Ramrod Key, within Monroe County, Florida. It is characterized as canal front, and the listing notes that an adjacent house is also available for purchase, with reference to MLS #620164 for that separate home offering.

    For buyers looking to build a custom residence, this site may fit well because the lot is already substantially cleared and filled, which can reduce early site preparation scope. At the same time, prospective purchasers should plan for the ROGO-based permitting path and verify all buildable constraints and next steps directly with Monroe County prior to committing to architectural design or construction contracts.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Ramrod Key
    County
    Monroe
    State
    Florida
    Longitude
    -81.404562
    Latitude
    24.659316

    Nearby Similar for Sale

    • $1,250,000
      1,234 SF

      Ramrod Key Commercial Property

      Commercial property on Ramrod Key with highway frontage.
      27001 Overseas Highway, Ramrod Key, FL 33042
      View Details
    • $12,250,000

      Florida Keys Income-Producing Assets

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

    FAQs

    What type of property is this?
    Residential land & home lot - Mostly cleared and filled canal-front parcel requiring ROGO permitting for custom home construction.
    Where is this residential land & home lot located?
    The property is located at Martinique Lane Ramrod Key, FL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Mostly cleared and filled parcel on Ramrod Key for building a custom home; Canal‑front lot with 6,000 sq ft lot size; No permits included; building requires approval through the Monroe County ROGO point system
    (631) 384-0222
    We can help!
    Listing Contact
    Kasey Fey
    Real Estate License ID: SL3375663
    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

    Thank You for Inquiry
    Martinique Lane, Ramrod Key, FL 33042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!