Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    442 48Th Street Ocean Marathon, FL 33050

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3268124
    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.

    Current Use by Public Records

    • Luna Bay Breeze / Homestay

    Property Details for 442 48Th Street Ocean

    Year built
    1981
    Property type
    Small apartment buildings

    Description

    This exceptional three-story, 1981-built duplex in Marathon, Florida, presents a unique blend of residential and investment potential. Situated on a spacious 7,500 square foot lot, the property boasts two individual apartments, each featuring three bedrooms and two bathrooms. Enjoy breathtaking views from expansive east and west-facing balconies in each unit. The property includes a valuable 75-foot concrete seawall, an extended wooden dock, and a convenient fish-cleaning station, perfect for enjoying the Florida Keys lifestyle. Located in a prime location, restaurants, shops, and attractions are all within walking distance. This multifamily property offers unparalleled possibilities, whether you choose to reside in one unit and rent the other, or rent both as long-term rentals or vacation rentals (minimum 7-night stays with an approved vacation license). The asking price is $1,999,999. This coastal property offers charm, comfort, and significant income potential, making it an ideal investment opportunity in the desirable Florida Keys market. The property is located at 442 48th Street Ocean, Marathon, FL 33050, in Monroe County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marathon
    County
    Monroe
    State
    Florida
    Longitude
    -81.0817393
    Latitude
    24.7134749

    Comparable in this City

    • $1,447,000

      Luxury Waterfront Multifamily in Marathon

      Profitable Keys Investment, Ocean Views
      104 52Nd Street Ocean, Marathon, FL 33050
      View Details
    • $1,495,000

      Marathon Keys Multifamily Investment

      Beachfront Duplex, Fully Renovated
      308 Sombrero Beach Rd, Marathon, FL 33050
      View Details
    • $3,549,000
      6,128 SF

      Waterfront Redevelopment Opportunity with Dockage

      Rare waterfront redevelopment opportunity with deep water dockage and highway frontage.
      14 125Th Street Gulf, Marathon, FL 33050
      View Details
    • $11,000,000

      Waterfront Residences: Luxury & Income

      Three designer homes on an exclusive waterfront parcel with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details
    • $9,900,000
      22,000 SF

      Grassy Key Marina Opportunity

      Marina with apartments, store, and redevelopment potential in Marathon, FL.
      59073 Overseas Hwy, Marathon, FL 33050
      View Details
    • $11,000,000
      12,198 SF

      Waterfront Residences: Luxury & Income

      Three designer homes on a waterfront parcel with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details

    Similar Nearby for Sale

    • $1,447,000

      Luxury Waterfront Multifamily in Marathon

      Profitable Keys Investment, Ocean Views
      104 52Nd Street Ocean, Marathon, FL 33050
      View Details
    • $1,495,000

      Marathon Keys Multifamily Investment

      Beachfront Duplex, Fully Renovated
      308 Sombrero Beach Rd, Marathon, FL 33050
      View Details
    • $3,549,000
      6,128 SF

      Waterfront Redevelopment Opportunity with Dockage

      Rare waterfront redevelopment opportunity with deep water dockage and highway frontage.
      14 125Th Street Gulf, Marathon, FL 33050
      View Details
    • $11,000,000
      12,198 SF

      Waterfront Residences: Luxury & Income

      Three designer homes on a waterfront parcel with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details
    • $9,900,000
      22,000 SF

      Grassy Key Marina Opportunity

      Marina with apartments, store, and redevelopment potential in Marathon, FL.
      59073 Overseas Hwy, Marathon, FL 33050
      View Details
    • $11,000,000

      Waterfront Residences: Luxury & Income

      Three designer homes on an exclusive waterfront parcel with income potential.
      2394 Coco Plum Dr, Marathon, FL 33050
      View Details

    Similar Nearby for Lease

    • $14,000 /Mo

      Luxury Waterfront Home in Marathon

      New luxury home with direct ocean access in Marathon, FL.
      112 Avenue, Marathon, FL 33050
      View Details
    • $1.31 SF/Yr
      22,069 SF

      Marathon Retail Space - Hwy 1 Overseas

      Prime Marathon location, 22,069 sq ft retail space
      11400 Overseas Hwy, Marathon, FL 33050
      View Details
    • New
      $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
    • $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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    442 48Th Street Ocean
    Marathon, FL 33050
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.