Entity Owned 
For Sale
1 / 10
$439,000
1012 Truman Ave,Unit 6, Key West, FL 33040
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Property summary
AI-generated overview
This commercial condominium is located in Old Town Key West along Truman Avenue, a high-visibility commercial corridor near shops, restaurants, and historic attractions. The unit is configured for potential use as live/work (zoning verification required), boutique retail, professional office, or a gallery, subject to applicable permitting. Interior improvements include newly replaced flooring, fresh interior paint, and a renovated bathroom. The property is within a homeowners association (HOA) that provides building insurance, exterior maintenance, and common area care, and the unit is governed by zoning HNC(1-3) – Hist Nghborhd Comml 1–3 Coastal Med.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1923
Total area
718 SF
Lot
0.08 ac (3,491 SF)
APN
00031231-000600
UPID
US18-4438271
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Artist
-
Marketing & Advertising Advertising Agency
-
Art Gallery
-
Real Estate Agency
-
Real Estate Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$455k
Owner & transaction history
since 2022
Last sale
$499,000
7 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$455k
Value range
$410k – $501k
±10% around blend
Estimated value / SF
$634 / SF
Confidence
Property data
75
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$410k
blend $455k
$501k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
718 SF
Lot area
0.08 ac
Year built
1923
APN
00031231-000600
Assessed value
$411,916
Annual tax
$3,562
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$3,562
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$455k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 41 sales
$694
-9%
Submarket 41 sales
$694
-9%
County 94 sales
$531
+19%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $634/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
2.22%
Selected cap rate for this retail space
Derived from the Key West market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$10k *
Last sale · May 2022
$499k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$439k
Move the market yield to see immediate price impact.
Value / SF
$611
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.72%2.22%2.72%
$9k
$510k
$395k
$322k
$10k
$566k
$439k
$358k
$11k
$623k
$483k
$394k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,562
Tax year 2023
Assessed value
$411,916
Assessed 2023
Previous assessed
$397,797
+3.5% YoY
Effective rate
0.86%
On assessed value
Assessed improvement
$411,916
Improvement market value
$411,916
Total market value
$411,916
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1923
Heating
NONE
Bathrooms
1
Total area
718 SF
Lot
0.08 ac (3,491 SF)
APN
00031231-000600
UPID
US18-4438271
Jurisdiction
MONROE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
1923
Heating
NONE
Bathrooms
1
Lot
0.08 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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