Technical
Financial
Distress signals
Property profile

627 Whitehead St Key West, FL 33040

OFF-MARKET
Other industrial properties
Property ID
US18-3553923
1,660 SF 0.05 ac lot Built 1938
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is a historic building located in Old Town Key West at 627 Whitehead Street, Key West, FL 33040 (Monroe County). It is zoned HRO (Historic Residential Office), which allows for potential residential and office/commercial uses. The building has been historically used as a spa and is currently configured as commercial space; it could also be converted for residential use, including as a private residence. Interior features include Dade County Pine walls. The layout includes a one-bedroom apartment with a private rear entrance, supporting on-site living alongside a business use or use as a rental unit. The building has a prior history of ownership by Helio Gomez, who served as a judge from 1963 to 1977 and was an attorney for John “Bum” Farto. The property is situated one block from Duval Street, two blocks from the Hemingway House, and near the courthouse. Expansion to a total of up to four bedrooms may be possible subject to submission and approval of all applicable City permits and compliance with the Land Development Regulations, including requirements for the definition of a single-family home and restrictions related to lockout units.

Property profile

Verified
Property type Other industrial properties
Use group MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built 1938
Total area 1,660 SF
Lot 0.05 ac (2,234 SF)
APN 00012550-000600
UPID US18-3553923

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

627 Whitehead St Key West, FL 33040
Key West metro Census 972400 KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.13M
CAP Approach CAP
by Request
Comparable Approach Comparable
$975k
Blend (final) Blend
$1.11M

Owner & transaction history

since 2022
Last sale
$1.2M
6 recorded transactions
2022
$1.2M
2017
Price N/A
2003
$257,000
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Retail stores $1.2M +42.3%
Office building $840,000 +3.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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