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Property profile & analytics
OFF-MARKET
Estimated value
$2,210,000
Industrial properties
320 Grinnell St Key West, FL 33040-6932
Entity Owned
4-yr Hold
Property ID
US18-5180734
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1929
Total area
3,560 SF
Lot
0.1 ac (4,526 SF)
APN
00002690-000200
UPID
US18-5180734
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
-
The Dive Bar Shirt Club Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.21M
Owner & transaction history
Imaginary Ships LLC · 4 yrs held
Imaginary Ships LLC
since 2022
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+42.3%
Office building
$1.8M
+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
$2,180,000
ML approach
$2,065,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,735,000
Current use
RETAIL STORES
$2,470,000
Change: +42% · Conversion: Easy
OFFICE BUILDING
$1,800,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$2.21M
Range $1.99M – $2.43M · ±10% · vs last sale $2.40M (Mar 31 2022)
Last sale anchor
$2.40M
Mar 31 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
$621 / 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
$18,016
Tax year 2023
Assessed value
$2,028,828
Assessed 2023
Previous assessed
$1,261,017
+60.9% YoY
Effective rate
0.89%
On assessed value
Assessed land
$1,549,706
Assessed improvement
$479,122
Land market value
$1,549,706
Improvement market value
$479,122
Total market value
$2,028,828
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
Off-Market
Year built
1929
Heating
FORCED AIR
Cooling
WALL UNIT
Stories
2
Units
2
Total area
3,560 SF
Lot
0.1 ac (4,526 SF)
APN
00002690-000200
UPID
US18-5180734
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
$1.7M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1929
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Imaginary Ships LLC
Entity
Mailing address
2506 N ROOSEVELT BLVD STE, KEY WEST, FL 33040-3950
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
Mar 31, 2022
$2,400,000
Imaginary Ships LLC
320 Grinnell LLC
Warranty Deed
$2,400,000 · Truist Bank
Jul 15, 2020
—
320 Grinnell LLC
—
Deed
related
$1,054,440 · Hancock Whitney Bk
Jun 25, 2014
$1,820,000
320 Grinnell LLC
Dillon,john R III & Jean H
Warranty Deed
—
Oct 26, 1999
$850,000
John R Dillon
Key West Purchase INC
Grant Deed
$700,000 · First State Bank Florida Keys
—
—
320 Grinnell LLC
—
Deed Of Trust
related
$1,750,000 · Whitney Bk
—
—
320 Grinnell LLC
—
Loan Modification
related
$1,054,440 · Hancock Whitney Bk
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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