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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Industrial properties
516 Fleming St Key West, FL 33040-6882
Entity Owned
3-yr Hold
Property ID
US18-8687095
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1960
Total area
1,768 SF
Lot
0.02 ac (966 SF)
APN
00009530-000000
UPID
US18-8687095
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
-
Clemente's Wood-Fired Trolley Pizzeria Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.26M
Owner & transaction history
Sophies Place LLC · 3 yrs held
Sophies Place LLC
since 2022
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+42.3%
Office building
$895,000
+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
$1,230,000
ML approach
$1,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$860,000
Current use
RETAIL STORES
$1,225,000
Change: +42% · Conversion: Easy
OFFICE BUILDING
$895,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10% · vs last sale $1.35M (Aug 16 2022)
Last sale anchor
$1.35M
Aug 16 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
$710 / 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
$10,324
Tax year 2023
Assessed value
$1,108,965
Assessed 2023
Previous assessed
$1,210,856
-8.4% YoY
Effective rate
0.93%
On assessed value
Assessed land
$936,054
Assessed improvement
$172,911
Land market value
$936,054
Improvement market value
$172,911
Total market value
$1,108,965
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
1960
Heating
NONE
Cooling
WALL UNIT
Stories
2
Units
2
Bathrooms
2
Total area
1,768 SF
Lot
0.02 ac (966 SF)
APN
00009530-000000
UPID
US18-8687095
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
$860,000
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$895,000
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
1960
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
2
Lot
0.02 ac
Current owner
From public records · entity-resolved
Sophies Place LLC
Entity
Mailing address
516 FLEMING ST, KEY WEST, FL 33040-6882
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2022
$1,354,280
Sophies Place LLC
516 Fleming LLC
Warranty Deed
$994,000 · Centennial Bank
Apr 1, 2020
$1,250,000
516 Fleming LLC
Tanner Partners Lllp
Warranty Deed
$912,000 · First Horizon Bank
Jul 26, 2017
—
Tanner Partners Lllp
—
Trustees Deed
related
$99,900 · New Moon Property Mgmt LLC
Jul 5, 2007
$680,000
Tanner Partners Lllp
Sanders,anna K
Warranty Deed
$510,000 · Key West Bank
Apr 2, 2003
$515,000
Anna K Sanders
Regal,reinhold E
Grant Deed
$371,250 · Key West 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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