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Property profile & analytics
OFF-MARKET
Estimated value
$1,750,000
Office buildings
317 Whitehead St Key West, FL 33040-6542
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-2754127
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Total area
3,514 SF
Lot
0.15 ac (6,534 SF)
APN
00004490-000000
UPID
US18-2754127
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
-
Cintron Jr Robert Law Firm
-
Garvin Injury Law Law Firm
-
Law Offices of Hugh J. Morgan Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.72M
CAP Approach
CAP
$1.09M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$1.75M
Owner & transaction history
Key West Modernist LLC · 3 yrs held
Key West Modernist LLC
since 2022
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+37.4%
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
$1,655,000
ML approach
$1,720,000
CAP Approach
CAP Return
Estimation
6%
$1,180,000
6.5%
$1,085,000
7%
$1,010,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,775,000
Current use
RETAIL STORES
$2,440,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,715,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.75M
Range $1.58M – $1.93M · ±10% · vs last sale $1.83M (Nov 1 2022)
Last sale anchor
$1.83M
Nov 1 2022
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
$498 / 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
$13,183
Tax year 2023
Assessed value
$1,534,352
Assessed 2023
Previous assessed
$1,232,779
+24.5% YoY
Effective rate
0.86%
On assessed value
Assessed land
$1,409,377
Assessed improvement
$124,975
Land market value
$1,409,377
Improvement market value
$124,975
Total market value
$1,534,352
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1963
Heating
NONE
Stories
2
Total area
3,514 SF
Lot
0.15 ac (6,534 SF)
APN
00004490-000000
UPID
US18-2754127
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
OFFICE BUILDING Current
Est. value
$1.8M
RETAIL STORES
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1963
Heating
NONE
Stories
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Key West Modernist LLC
Entity
Mailing address
7901 4TH ST N STE #300, SAINT PETERSBURG, FL 33702-4399
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2022
$1,825,000
Key West Modernist LLC
Michael R Marceau
Warranty Deed
$3,119,358 · Patch Lending LLC
May 14, 2021
$1,150,000
Michael R Marceau
Morgan & Hendrick LLC
Warranty Deed
—
May 14, 2021
—
Morgan & Hendrick LLC
Hugh J Morgan
Correction Deed
related
—
Mar 8, 2012
—
Morgan & Hendrick LLC
Morgan,hugh J
Quit Claim Deed
related
—
—
—
Hugh J Morgan
—
Deed Of Trust
related
$47,374 · Orion Bank
—
—
Hugh J Morgan
—
Loan Modification
related
—
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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