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    308 Sombrero Beach Rd, Unit Other City - In The State Of Florida, FL 33050
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    Property profile & analytics

    308 Sombrero Beach Rd, Unit Other City - In The State Of Florida, FL 33050

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    • Duplexes
    Off-Market
    Property ID
    US18-5106194
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Duplexes

    Property Details for 308 Sombrero Beach Rd

    Year built
    1974
    Property type
    Duplexes
    Property subtype
    Short term rental properties

    Description

    No HOA! Paradise in Marathon - Florida Keys close to Sombrero Beach. Home is right on a walking and lit bike path that leads right to Sombrero Beach. Home features hot tub, hammock while watching the sunset or jump into your boat right out of the dock just steps away from the home. Hurricane impact windows & doors, jacuzzi, gazebo, bbq area, as well as a hammock. Fully renovated kitchens, bathrooms, fully furnished, as well as fully equipped kitchens. 50ft concrete dock with a deep water canal that takes approximately 15-20 minutes to reach open water. Great investment opportunity, both units are currently vacation licensed and ready to enjoy as well as rent out to vacationers look. Please note this is 2 units out of 4 top and bottom half of the building, that sit on one side of property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    State Of Florida
    County
    Leon
    State
    Florida
    Longitude
    -81.0717
    Latitude
    24.7161

    Comparable in this City

    • $1,099,000
      1,512 SF

      Waterfront Duplex with Building Rights

      Rare duplex on canal with open water access in Marathon.
      4901/4903 49 St, Marathon, FL 33050
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    • $525,000

      Waterfront Townhouse in Marathon, FL

      One-bedroom, two-bath townhouse on a 7-acre waterfront complex.
      10877 Overseas Hwy, Marathon, FL 33050
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    • Contact for pricing
      1,000 SF

      Oceanfront Home on Atlantic

      Oceanfront property with sunrise/sunset views, modern amenities, and rental potential.
      101 11Th Street Ocean, Marathon, FL 33050
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    • $11,000,000
      4,066 SF

      Waterfront Residences: Luxury & Income

      Three designer homes near Coco Plum Beach with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details

    Similar Nearby for Sale

    • $1,099,000
      1,512 SF

      Waterfront Duplex with Building Rights

      Rare duplex on canal with open water access in Marathon.
      4901/4903 49 St, Marathon, FL 33050
      View Details
    • $11,000,000
      4,066 SF

      Waterfront Residences: Luxury & Income

      Three designer homes near Coco Plum Beach with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details
    • $525,000

      Waterfront Townhouse in Marathon, FL

      One-bedroom, two-bath townhouse on a 7-acre waterfront complex.
      10877 Overseas Hwy, Marathon, FL 33050
      View Details
    • Contact for pricing
      1,000 SF

      Oceanfront Home on Atlantic

      Oceanfront property with sunrise/sunset views, modern amenities, and rental potential.
      101 11Th Street Ocean, Marathon, FL 33050
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      14,000 SF

      Key Vaca Center: Marathon Office Space

      14,000 SF Office Building, Multiple Suites Available
      10045 Overseas Hwy, Marathon, FL 33050
      View Details
    • $1,514 /Mo

      Marathon, FL Commercial Space

      Upstairs unit available for rent in Marathon, Florida.
      10045 Overseas Hwy, Marathon, FL 33050
      View Details
    • $1.87 SF/Yr

      KEY VACA CENTER

      Office / Retail / Medical Offices - 3 spaces available | 1,000 SqFt - 4,020 SqFt
      10095 Overseas Hwy, Marathon, FL 33050
      View Details
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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.

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