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Property profile & analytics
OFF-MARKET
Estimated value
$1,195,000
Office buildings
323 Fleming St Key West, FL 33040-6526
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-0557394
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1939
Total area
2,408 SF
Lot
0.11 ac (4,611 SF)
APN
00006700-001300
UPID
US18-0557394
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
-
Key West Vacation Properties and Realty Real Estate Agency
-
Key West Residential Property Management Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.20M
Owner & transaction history
Key West Vacation Properties & Rlty · 5 yrs held
Key West Vacation Properties & Rlty
since 2021
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+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
$1,165,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,215,000
Current use
RETAIL STORES
$1,670,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,175,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.20M
Range $1.08M – $1.31M · ±10% · vs last sale $1.20M (May 11 2021)
Last sale anchor
$1.20M
May 11 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
$496 / 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
$10,391
Tax year 2023
Assessed value
$1,208,841
Assessed 2023
Previous assessed
$1,104,935
+9.4% YoY
Effective rate
0.86%
On assessed value
Assessed land
$921,899
Assessed improvement
$286,942
Land market value
$921,899
Improvement market value
$286,942
Total market value
$1,208,841
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 (MULTI-STORY)
Status
Off-Market
Year built
1939
Heating
FORCED AIR
Stories
2
Total area
2,408 SF
Lot
0.11 ac (4,611 SF)
APN
00006700-001300
UPID
US18-0557394
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
$1.2M
RETAIL STORES
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.2M
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
1939
Heating
FORCED AIR
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Key West Vacation Properties & Rlty
Entity
Mailing address
323 FLEMING ST, KEY WEST, FL 33040-6526
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2023
—
Key West Vacation Properties & Rlty
—
Deed
related
$500,000 · Trust Bank
May 11, 2021
$1,195,000
Key West Vacation Properties & Rlty
Aranpee INC
Warranty Deed
$1,500,000 · Truist Bank
Feb 22, 2017
—
Aranpee INC
—
Deed
related
$337,985 · Iberiabank
—
—
Aranpee INC
—
Deed Of Trust
related
$171,720 · Iberiabank
—
—
Aranpee INC
—
Deed Of Trust
related
$337,985 · Iberiabank
—
—
Aranpee INC
—
Deed Of Trust
related
$235,000 · Orion 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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