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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Office buildings
600 Whitehead St C-2 Key West, FL 33040-8380
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-4142449
Property summary
AI-generated overview
This 749-square-foot commercial condo, located at 600 Whitehead Street, C-2, Key West, Florida 33040 (APN 585376), presents a unique investment opportunity. Priced at $825,000 ($1,101.47 per square foot), this ground-floor space boasts high visibility and strong foot traffic due to its central Old Town location, adjacent to the courthouse and directly across from the Green Parrot Bar. The open floor plan offers flexibility for customization to suit various business needs. The property features both front and rear entrances, enhancing accessibility and convenience. Currently configured as a spa, this versatile space is zoned HRO (Residential/Office) and is suitable for a range of commercial uses, including retail. The property is situated in an X flood zone. This industrial-type property offers a blend of commercial and warehouse space, making it ideal for entrepreneurs seeking a high-traffic location in a vibrant Key West neighborhood. The property's location and flexible layout provide significant potential for a variety of businesses. Serious inquiries are encouraged.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1948
Total area
749 SF
Lot
0.07 ac (3,050 SF)
APN
00012901-000200
UPID
US18-4142449
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
-
All Keys Reporting Law Firm
-
The Sidman Law Office P.A. Law Firm
-
Masjid al-Maalik Mosque
-
Merchant Owl Consultant
-
Alan Fowler Law, PLLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$410k
Blend (final)
Blend
$600k
Owner & transaction history
Dianhong Niu · 1 yrs held
Dianhong Niu
since 2024
Last sale
$600,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$520,000
+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
$600,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$380,000
Current use
RETAIL STORES
$520,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$365,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $600k (Dec 18 2024)
Last sale anchor
$600k
Dec 18 2024
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
$801 / 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
$3,085
Tax year 2023
Assessed value
$363,335
Assessed 2023
Previous assessed
$318,433
+14.1% YoY
Effective rate
0.85%
On assessed value
Assessed improvement
$363,335
Improvement market value
$363,335
Total market value
$363,335
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
Status
Off-Market
Year built
1948
Heating
NONE
Total area
749 SF
Lot
0.07 ac (3,050 SF)
APN
00012901-000200
UPID
US18-4142449
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
$380,000
RETAIL STORES
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$365,000
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
1948
Heating
NONE
Lot
0.07 ac
Current owner
From public records · entity-resolved
Dianhong Niu
Individual
Mailing address
600 WHITEHEAD STC-2, KEY WEST, FL 33040-8380
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2024
$600,000
Dianhong Niu
Island Massage And Day Spa LLC
Warranty Deed
$340,000 · Island Massage And Day Spa LLC
Apr 24, 2012
$315,000
Island Massage & Day Spa LLC
Independent Mtg & Finance Co I
Warranty Deed
$315,000 · Independent Mtg&finance Co INC
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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