Entity Owned 
For Sale
1 / 25
$2,999,999
1900 Flagler Ave, Key West, FL 33040
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Property summary
AI-generated overview
This exceptional Key West investment opportunity presents a thriving Irish bar and restaurant, complete with a substantial building, ideally situated at the corner of Bertha, First, and Flagler Streets. Boasting 7,000 square feet of net rentable space within a 5,061-7,000 square foot building constructed in 1958, this Class A property sits on a 0.33-acre lot and offers 24 dedicated parking spaces – a significant advantage in this high-traffic area. Currently operating at 100% occupancy, the business includes 150 licensed seats, qualifying for an SRX Liquor License and an Entertainment License. The property's zoning is CL-Limited Commercial. Adding to its appeal is a unique live-work component: a second-floor, four-bedroom residential apartment with an additional office space. This turnkey operation is a short walk from the beach and benefits from municipal city water and sewer services. The asking price is $2,999,999, and the property is available for a 1031 exchange. This is a rare chance to acquire a well-established business with significant upside potential in a highly desirable Key West location. The property consists of two units and is privately owned.
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1958
Total area
5,061 SF
Lot
0.33 ac (14,308 SF)
APN
00063470-000000
UPID
US18-3813340
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
-
Bar & Pub Nightclub
-
Bar & Pub Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.59M
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.55M
Owner & transaction history
since 2022
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Office building
$2.6M
+3.6%
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
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.55M
Value range
$1.39M – $1.70M
±10% around blend
Estimated value / SF
$305 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$1.39M
blend $1.55M
$1.70M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,061 SF
Lot area
0.33 ac
Year built
1958
Stories
2
APN
00063470-000000
Assessed value
$1,398,640
Annual tax
$13,222
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.08M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.17M
@ 6.5% CAP return
$1.08M
@ 7% CAP return
$1.00M
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
$13,222
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.52M
Range $1.52M – $3.42M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.55M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 50 sales
$487
-37%
Submarket 50 sales
$487
-37%
County 116 sales
$401
-24%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $305/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+4%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
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
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Overview
Selected market yield
4.50%
Selected cap rate for this industrial properties
Derived from the Key West market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.50%
9.0%
NOI (est.)
$95k *
Last sale · Feb 2022
$1.70M
* 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$2.12M
Move the market yield to see immediate price impact.
Value / SF
$419
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
4.00%4.50%5.00%
$86k
$2.15M
$1.91M
$1.72M
$95k
$2.39M
$2.12M
$1.91M
$105k
$2.62M
$2.33M
$2.10M
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
$13,222
Tax year 2023
Assessed value
$1,398,640
Assessed 2023
Previous assessed
$863,351
+62.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$746,773
Assessed improvement
$651,867
Land market value
$746,773
Improvement market value
$651,867
Total market value
$1,398,640
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
For Sale
Year built
1958
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Units
1
Bathrooms
3
Total area
5,061 SF
Lot
0.33 ac (14,308 SF)
APN
00063470-000000
UPID
US18-3813340
Jurisdiction
MONROE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1958
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
1
Bathrooms
3
Lot
0.33 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.
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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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