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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Investment properties
409 2nd St, Cedar Key, FL 32625
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-1692109
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,250 SF
Lot
0.06 ac (2,614 SF)
APN
857400000
UPID
US18-1692109
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
-
Therapeutic Massage by Diana Alternative Medicine Practice Spa & Massage Center
-
Hair by Haley Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$528k
Blend (final)
Blend
$530k
Owner & transaction history
Penmont LLC · 1 yrs held
Penmont LLC
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Cedar Key submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Key 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$350,000
Current use
RETAIL STORES
$325,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±10%
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
$236 / 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
$5,901
Tax year 2023
Assessed value
$266,052
Assessed 2023
Previous assessed
$266,052
+0.0% YoY
Effective rate
2.22%
On assessed value
Land market value
$90,000
Improvement market value
$176,052
Total market value
$266,052
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CONVECTION
Cooling
WINDOW A/C
Units
2
Total area
2,250 SF
Lot
0.06 ac (2,614 SF)
APN
857400000
UPID
US18-1692109
Jurisdiction
LEVY
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
$350,000
RETAIL STORES
Est. value
$325,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CONVECTION
Cooling
Yes
Units
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Penmont LLC
Entity
Mailing address
590 CIR DR, SEDONA, AZ 86336-4160
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2024
—
Penmont LLC
Monty Wilson
Warranty Deed
—
May 1, 2024
$660,000
Monty Wilson
Pescador Holdings LLC
Warranty Deed
—
Jun 22, 2023
—
Kro Properties INC
—
Deed
related
$200,000 · Dave E Schiess Etux
May 16, 2023
—
Kro Properties INC
—
Deed
related
$200,000 · David E Schiess Etal
Sep 17, 2020
$260,000
Peseador Holdings LLC
Restoration Holdings LLC
Warranty Deed
—
Oct 31, 2013
$270,000
Restoration Holdings LLC
Moreau,melanie G & M Grace
Warranty Deed
$230,000 · Hosmer Compton
Jul 24, 2012
—
Melanie G Moreau
Register,clayton D
Grant Deed
—
Dec 28, 2009
$220,000
C Dale Register
Bayview Ln Svcg LLC
Grant Deed
—
Sep 15, 2009
—
Bayview Ln Svcg LLC
Christians,rolland H & Nancy C L Coc
Trustees Deed
related
—
Oct 31, 2003
$242,500
Rolland H Christians
Florida Hay Sales INC
Grant Deed
$188,000 · Perkins State Bank
Jan 24, 2002
—
Florida Hay Sales INC
Omalla,carol E
Quit Claim Deed
related
—
—
—
Rolland H Christians
—
Deed Of Trust
related
$356,200 · Interbay Funding LLC
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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