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Property profile & analytics
FOR LEASE
Industrial properties
218 Whitehead St Key West, FL 33040
Entity Owned
4-yr Hold
Property ID
US18-0542011
For Lease
1 / 7
$2,750/Mo
218 Whitehead St, Key West, FL 33040
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Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1942
Total area
7,755 SF
Lot
0.16 ac (7,091 SF)
APN
00001630-000700
UPID
US18-0542011
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
-
Comedy Key West Nightclub Theater & Performing Art Venue
-
Kirby's Closet Clothing & Fashion Store
-
Southernmost Bike Tours Travel Agency Tour Operator
-
Little Whitehouse Subs Take-out & Catering
-
Hidden Gems Botanica LLC Religious Bookstore
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.04M
Blend (final)
Blend
$2.99M
Owner & transaction history
Kays Katie Holdings LLC · 4 yrs held
Kays Katie Holdings LLC
since 2021
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.9M
+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
$2,930,000
ML approach
$2,975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,780,000
Current use
OFFICE BUILDING
$3,915,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$2.99M
Range $2.69M – $3.29M · ±10% · vs last sale $3.00M (Sep 27 2021)
Last sale anchor
$3.00M
Sep 27 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
$386 / 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
$25,361
Tax year 2023
Assessed value
$3,057,407
Assessed 2023
Previous assessed
$2,609,130
+17.2% YoY
Effective rate
0.83%
On assessed value
Assessed land
$1,347,658
Assessed improvement
$1,709,749
Land market value
$1,347,658
Improvement market value
$1,709,749
Total market value
$3,057,407
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
1942
Heating
FORCED AIR
Stories
3
Units
1
Total area
7,755 SF
Lot
0.16 ac (7,091 SF)
APN
00001630-000700
UPID
US18-0542011
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
$3.8M
OFFICE BUILDING
Est. value
$3.9M
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
1942
Heating
FORCED AIR
Stories
3
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Kays Katie Holdings LLC
Entity
Mailing address
526 ANGELA ST, KEY WEST, FL 33040-7433
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2021
$3,000,000
Kays Katie Holdings LLC
Lauramar I Limited Partnership
Warranty Deed
$4,000,000 · First State Bank Of The Florida Keys
Apr 16, 2009
—
Lauramar I Limited Partnership
Laura Mar Development Of Key West I
Correction Deed
related
$550,000 · Tib Bank
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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