Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,680,000
Industrial properties
1128 Simonton St Key West, FL 33040-3181
Individually Owned
4-yr Hold
Property ID
US18-8709988
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1983
Total area
7,468 SF
Lot
0.12 ac (5,133 SF)
APN
00027600-000000
UPID
US18-8709988
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
CAFELITO Cafe & Coffee Shop
-
Paradise411 Information Station Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$3.68M
Owner & transaction history
Michael L Browning · 4 yrs held
Michael L Browning
since 2022
Last sale
$3.9M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.2M
+42.3%
Office building
$3.8M
+3.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Key West submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Key West submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,495,000
ML approach
$3,535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,640,000
Current use
RETAIL STORES
$5,180,000
Change: +42% · Conversion: Easy
OFFICE BUILDING
$3,770,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$3.68M
Range $3.31M – $4.05M · ±10% · vs last sale $3.85M (Feb 22 2022)
Last sale anchor
$3.85M
Feb 22 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$493 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,235
Tax year 2023
Assessed value
$2,435,913
Assessed 2023
Previous assessed
$1,726,132
+41.1% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,568,260
Assessed improvement
$867,653
Land market value
$1,568,260
Improvement market value
$867,653
Total market value
$2,435,913
Applied tax rate
10.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1983
Heating
FORCED AIR
Stories
2
Units
4
Total area
7,468 SF
Lot
0.12 ac (5,133 SF)
APN
00027600-000000
UPID
US18-8709988
Jurisdiction
MONROE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.6M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING
Est. value
$3.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Heating
FORCED AIR
Stories
2
Units
4
Lot
0.12 ac
Current owner
From public records · entity-resolved
Michael L Browning
Individual
Mailing address
1128 SIMONTON ST, KEY WEST, FL 33040-3181
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2022
$3,850,000
Michael L Browning
Catherine Simonton Corporation
Warranty Deed
$2,870,000 · Gulf Atlantic Bank
Mar 22, 2005
$2,270,000
Catherine Simonton Corp
Hubcap Corp
Warranty Deed
$1,620,000 · Tib Bank Of The Keys
Jul 1, 1991
$1,200,000
Hub Cap Corp
Hubchenko,j P
Warranty Deed
related
—
—
—
1122 Simonton Residences LLC
—
Deed Of Trust
related
$2,485,000 · First St Bk/fl Keys
—
—
1122 Simonton Residences LLC
—
Deed Of Trust
related
$105,000 · First St Bk/fl Keys
—
—
Hubcap Corp
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1128 Simonton St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
