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    207 Russell St Islamorada, FL 33036

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4580788
    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.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 207 Russell St

    Year built
    1963
    Property type
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a charming two-unit property nestled on a tranquil dead-end street in Islamorada, Florida. Situated on a generous 8,100 square foot lot in the desirable Upper Matecumbe Key area, this property offers a unique blend of comfort and income potential. The property comprises two distinct houses: a one-bedroom, one-bathroom frame house and a remodeled two-bedroom, one-bathroom concrete block structure. The concrete block house, updated within the last few years, boasts a consistent history of long-term rentals, providing a reliable income stream. Its proximity to a Publix supermarket adds to its convenience and desirability. This property presents a fantastic chance to live in one unit while generating rental income from the other, allowing you to enjoy the idyllic lifestyle of Islamorada while building equity. The single-story buildings were constructed in 1963, offering a solid foundation for future growth and potential appreciation. The location, just one block from Publix, ensures easy access to shopping and amenities. This is an ideal opportunity for those seeking a blend of residential living and investment potential in a highly sought-after Florida Keys location. The asking price is $1,150,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.6188369
    Latitude
    24.9339982

    Comparable in this City

    • $5,500,000

      Islamorada Redevelopment Opportunity

      Prime Islamorada property with redevelopment potential in a desirable location.
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      Islamorada Development Opportunity

      Two commercial parcels for development at Islamorada's entry point.
      82925 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    • $6,495,000

      Oceanfront Land with Redevelopment Potential

      200' oceanfront property with redevelopment possibilities in Lower Matecumbe, FL.
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    • New
      $990,000
      1,766 SF

      Two Cottages in Islamorada

      Two cottages on one property in the heart of Islamorada.
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    • $1,899,000

      Islamorada Mixed-Use Commercial Property

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      Islamorada Bayfront Commercial Gem

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    Similar Nearby for Sale

    • $5,500,000

      Islamorada Redevelopment Opportunity

      Prime Islamorada property with redevelopment potential in a desirable location.
      82929 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
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    • $3,300,000

      Islamorada Development Opportunity

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    • $6,495,000

      Oceanfront Land with Redevelopment Potential

      200' oceanfront property with redevelopment possibilities in Lower Matecumbe, FL.
      75131 Overseas Hwy, Islamorada, FL 33036
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    • New
      $990,000
      1,766 SF

      Two Cottages in Islamorada

      Two cottages on one property in the heart of Islamorada.
      219 Preston St Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    • $1,899,000

      Islamorada Mixed-Use Commercial Property

      Luxury commercial property with highway frontage and residential unit.
      87847 Overseas Hwy, Plantation Key, FL 33036
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    • $2,200,000

      Islamorada Restaurant with Liquor License

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    207 Russell St
    Islamorada, FL 33036
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    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
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