Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1016 Howe St, Unit 5 Key West, FL 33040-7555
    Back to Search
    Property profile & analytics

    1016 Howe St, Unit 5, Key West, FL 33040-7555

    View on Map
    • Hotels
    • 138 SF
    • 0.14 lot acres
    Off-Market
    Last Sale Jun 13, 2023
    $475,000
    Property ID
    US18-5519536
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Galleria Guesthouse / Hotel & Motel / Bed & Breakfast

    Property Details for 1016 Howe St

    Year built
    1938
    Lot size
    0.14 lot acres
    Property type
    Hotels
    Property subtype
    Motels
    APN
    00026900-000105
    APU
    26900000105

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 13, 2023 $475,000 1016 Howe Street 5 LLC Howe Key 4 LLC Warranty Deed —
    Jun 26, 2018 $277,000 Howe Key 4 LLC Berger,nicole Warranty Deed —
    Mar 9, 2016 $260,000 Nicole Berger Dartley,kenneth A Warranty Deed —
    Nov 8, 2005 $295,000 Kenneth A Dartley Wyland Of Key West INC Special Warranty Deed $280k · First State Bank Of The Florida Key

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.8016
    Latitude
    24.5488
    CBSA code
    28580
    CBSA name
    KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,178
    $0.00
    $392,544
    $392,544
    -
    $0.00
    $392,544
    $392,544

    Comparable in this City

    • Value Estimation by Request
      0.44 Acres

      617 Frnt St

      HOTEL/MOTEL
      617 Frnt St, Key West, FL 33040-6620
      View Details
    • Value Estimation by Request
      860 SF

      5950 Peninsular Ave

      HOTEL/MOTEL
      5950 Peninsular Ave, Key West, FL 33040-6012
      View Details
    • Value Estimation
      $830,000
      8,690 SF

      2440 Roosevelt Blvd

      HOTEL/MOTEL
      2440 Roosevelt Blvd, Key West, FL 33040
      View Details
    • Value Estimation
      $7,045,000
      81,541 SF

      3444 Roosevelt Blvd

      HOTEL/MOTEL
      3444 Roosevelt Blvd, Key West, FL 33040-4224
      View Details
    • Value Estimation
      $925,000
      4,364 SF

      819 Simonton St

      HOTEL/MOTEL
      819 Simonton St, Key West, FL 33040-7445
      View Details
    • Value Estimation
      $1,010,000
      10,754 SF

      501 Southard St

      HOTEL/MOTEL
      501 Southard St, Key West, FL 33040-6835
      View Details

    Similar Nearby for Sale

    • $4,750,000
      3,788 SF

      Waterfront Key West Investment Opportunity

      Historic Key West property with multi-family and commercial potential.
      901 Eisenhower Dr, Key West, FL 33040
      View Details
    • $4,750,000
      3,788 SF

      Waterfront Key West Investment Opportunity

      Historic Key West property with multi-family configuration and commercial zoning.
      901 Eisenhower Dr, Key West, FL 33040
      View Details
    • $4,950,000
      8,472 SF

      Historic Key West Mixed-Use Property

      Unique mixed-use property near Duval Street with historic significance.
      314 Simonton St, Key West, FL 33040
      View Details
    • $20,350,000
      4,788 SF

      Historic Inn in Key West

      Award-winning 38-room inn with historic charm and modern amenities.
      521 United St, Key West, FL 33040
      View Details
    • $19,550,000
      4,166 SF

      Key West Hospitality Property

      Hospitality property designed for group travelers near Key West Port.
      823 Fleming St, Key West, FL 33040
      View Details
    • Contact for pricing
      2,071 SF

      Key West Ocean View Opportunity

      Undeveloped property in the Historic Commercial Tourist District.
      1430 Vernon Ave, Key West, FL 33040
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,491 square feet.
      3201 Flagler Ave, Key West, FL 33040
      View Details
    • $8,300 /Mo
      1,250 SF

      Key West Retail Space Available

      Prime retail space in Key West's high-traffic tourist area.
      308 Front St, Key West, FL 33040
      View Details
    • $3,600 /Mo
      1,200 SF

      Conch Harbor Retail Center Space

      Office or retail space available in Key West, Florida.
      951 Caroline St, Key West, FL 33040
      View Details
    • $15,500 /Mo
      2,155 SF

      Duval Street Retail Opportunity

      Premier retail space on Key West's heavily trafficked Duval Street.
      518 Duval St, Key West, FL 33040
      View Details
    • $5,828 /Mo
      657 SF

      Key West Retail Space For Rent

      Retail space in high-traffic Key West location.
      431 Front St, Key West, FL 33040
      View Details
    • Contact for pricing

      Prime Retail Space on Duval

      Turn-key retail location in the heart of Duval Street.
      211 Duval St, Key West, FL 33040
      View Details
    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.
    1016 Howe St, Unit 5
    Key West, FL 33040-7555
    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
    1016 Howe St, Key West, FL, 33040
    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!