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Property profile & analytics
FOR LEASE
Industrial properties
1206 White St Key West, FL 33040
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-4888333
For Lease
1 / 7
$4,250/Mo
1206 White St, Key West, FL 33040
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1923
Total area
6,268 SF
Lot
0.19 ac (8,147 SF)
APN
00033010-000000
UPID
US18-4888333
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
-
Bone Island Graphics (Bike/Boat/Book/etc) Store Home Decor Store
-
SOUTHERNMOST GAME SHOP (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.10M
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
$2.25M
Blend (final)
Blend
$2.18M
Owner & transaction history
Island City Butcher Shop LLC · 5 yrs held
Island City Butcher Shop LLC
since 2021
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.2M
+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
$2,150,000
ML approach
$2,095,000
CAP Approach
CAP Return
Estimation
6%
$1,440,000
6.5%
$1,330,000
7%
$1,235,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,055,000
Current use
OFFICE BUILDING
$3,165,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$2.18M
Range $1.96M – $2.40M · ±10% · vs last sale $2.20M (Mar 19 2021)
Last sale anchor
$2.20M
Mar 19 2021
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
$348 / 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
$17,720
Tax year 2023
Assessed value
$2,266,083
Assessed 2023
Previous assessed
$1,661,377
+36.4% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,356,473
Assessed improvement
$909,610
Land market value
$1,356,473
Improvement market value
$909,610
Total market value
$2,266,083
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
For Lease
Year built
1923
Heating
FORCED AIR
Cooling
WALL UNIT
Stories
2
Units
2
Total area
6,268 SF
Lot
0.19 ac (8,147 SF)
APN
00033010-000000
UPID
US18-4888333
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
$3.1M
OFFICE BUILDING
Est. value
$3.2M
COMMERCIAL (GENERAL) Current
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
1923
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Island City Butcher Shop LLC
Entity
Mailing address
1202 WHITE ST, KEY WEST, FL 33040-3329
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2021
$2,200,000
Island City Butcher Shop LLC
Victor H Mills JR
Warranty Deed
$2,200,000 · Michael L Sanfelippo Trust
Sep 18, 2020
—
Victor H Mills JR
—
Deed
related
$300,000 · Melvin H Eaton
Jul 1, 2019
—
Victor H Mills JR
—
Deed
related
$145,000 · Guy A Willis
Jul 22, 2013
—
Victor H Mills JR.
—
Trustees Deed
related
$120,000 · Guy A Willis
Jun 29, 2012
$650,000
Victor H Mills JR.
Franco,maria V
Warranty Deed
—
Jan 13, 2009
—
Maria V Franco
Franco,faustino
Quit Claim Deed
related
—
May 27, 1994
$325,000
Jesus L Rodriguez
R,b W Key W
Warranty Deed
related
$220,000
—
—
Victor H Mills JR.
—
Loan Modification
related
$145,000 · Guy A Willis
—
—
Victor H Mills JR
—
Loan Modification
related
$60,000 · Endy M Holifield
—
—
Victor H Mills JR
—
Loan Modification
related
$145,000 · Guy A Willis
—
—
Victor H Mills JR
—
Deed Of Trust
related
$60,000 · Wendy M Holifield
—
—
Jesus L Rodriguez
—
Deed Of Trust
related
$212,000 · Marine Bank Florida Keys
—
—
Victor H Mills JR
—
Deed Of Trust
related
$300,000 · Melvin H Eaton
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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