Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    600 Whitehead St Ste, Unit 204 Key West, FL 33040-8378
    Back to Search
    Property profile & analytics

    600 Whitehead St Ste, Unit 204, Key West, FL 33040-8378

    View on Map
    • Office buildings
    • 255 SF
    • 0.07 lot acres
    Off-Market
    Last Sale Jun 2, 2022
    $130,300
    Property ID
    US18-3412425
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 600 Whitehead St Ste

    Year built
    1948
    Lot size
    0.07 lot acres
    Property type
    Office buildings
    APN
    00012901-000900
    APU
    12901000900

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 2, 2022 $130,300 Bism Rabbik Foundation INC Island Massage & Day Spa LLC Warranty Deed —
    Dec 30, 2013 $142,600 Island Massage & Day Spa LLC Independent Mtg & Finance Co I Warranty Deed $128k · Independent Mtg&finance Co INC
    Aug 2, 2012 — Eden Holdings Key West LLC Eden & Cates Pl Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.8031
    Latitude
    24.554
    CBSA code
    28580
    CBSA name
    KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,066
    $0.00
    $113,364
    $113,364
    -
    $0.00
    $113,364
    $113,364

    Comparable in this City

    • Value Estimation
      $3,890,000
      11,904 SF

      2000 Roosevelt Blvd

      OFFICE BUILDING
      2000 Roosevelt Blvd, Key West, FL 33040-3629
      View Details
    • Value Estimation by Request
      150 SF

      300 Southard St Ste, Unit 204

      PROFESSIONAL BUILDING
      300 Southard St Ste, Key West, FL 33040-8401
      View Details
    • Value Estimation
      $1,175,000
      3,712 SF

      409 Angela St

      OFFICE BUILDING
      409 Angela St, Key West, FL 33040-7401
      View Details
    • Value Estimation
      $1,050,000
      2,584 SF

      333 Fleming St

      OFFICE BUILDING (MULTI-STORY)
      333 Fleming St, Key West, FL 33040-6526
      View Details
    • Value Estimation
      $1,040,000
      3,136 SF

      1104 Truman Ave

      OFFICE BUILDING
      1104 Truman Ave, Key West, FL 33040-3462
      View Details
    • Value Estimation by Request
      135 SF

      300 Southard St Ste, Unit 105

      PROFESSIONAL BUILDING
      300 Southard St Ste, Key West, FL 33040-8401
      View Details

    Similar Nearby for Sale

    • $1,200,000
      2,045 SF

      Renovated Office Building in Key West

      Income-producing, renovated two-story office building in Key West, Florida.
      3140 Northside Dr, Key West, FL 33040
      View Details
    • $1,500,000
      1,436 SF

      Key West Commercial Opportunity

      Standalone commercial building in Old Town Key West with parking.
      604 Whitehead St, Key West, FL 33040
      View Details
    • New
      $2,200,000
      0.57 Acres

      Stock Island Mixed-Use Opportunity

      25,000 SF mixed-use property with redevelopment potential near Key West.
      5580 1St Ave, Stock Island, FL 33040
      View Details
    • $349,000
      2,058 SF

      Key West Office Condo

      Centrally located office condo in Key West, Florida.
      1010 Kennedy Dr, Key West, FL 33040
      View Details
    • $975,000

      Old Town Commercial Office Space

      Commercial office space in Old Town with parking for sale.
      615 United St Ky, Key West, FL 33040
      View Details
    • New
      $2,175,000
      2,150 SF

      Historic Key West Residence

      Old Town residence blending historic charm with modern refinement.
      1209 Packer St, Key West, FL 33040
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,491 square feet.
      3201 Flagler Ave, Key West, FL 33040
      View Details
    • $3,600 /Mo
      1,200 SF

      Conch Harbor Retail Center Space

      Office or retail space available in Key West, Florida.
      951 Caroline St, Key West, FL 33040
      View Details
    • $4,300 /Mo
      1,475 SF

      Key West Office Condo Rental

      Centrally located office condo in Key West, Florida.
      1010 Kennedy Dr, Key West, FL 33040
      View Details
    • $26,276
      7,007 SF

      Key West Office/Medical Space

      7,007 SF office/medical space in desirable New Town location.
      1111 12Th St, Key West, FL 33040
      View Details
    • $1,650 /Mo
      Pending

      Key West Office Space Available

      Office space for lease in Key West with parking.
      3208 Flagler Ave, Key West, FL 33040
      View Details
    • $1,250 /Mo
      232 SF

      Updated Office Space in Key West

      Small, updated office space in Old Town Key West.
      524 Eaton St, Key West, FL 33040
      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.
    600 Whitehead St Ste, Unit 204
    Key West, FL 33040-8378
    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

    Thank You for Inquiry
    600 Whitehead St Ste, Key West, FL, 33040
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!