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    88101 Old Hwy Plantation Key, FL 33036
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    Property profile & analytics

    88101 Old Hwy Plantation Key, FL 33036

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    • Office buildings
    • 2,244 SF
    • 0.14 lot acres
    For Sale
    $1,195,000
    View Listing →
    Islamorada Mixed-Use Investment Opportunity For Sale
    $1,195,000
    2,244 SF

    Islamorada Mixed-Use Investment Opportunity

    Two-story mixed-use building with income potential in Islamorada.

    88101 Old Hwy, Plantation Key, FL 33036
    View Listing
    Property ID
    US18-3295506
    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
    7.4%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 88101 Old Hwy

    Year built
    1991
    Lot size
    0.14 lot acres
    Property size
    2,244 SF
    Property type
    Office buildings
    APN
    00412770-000000
    APU
    412770000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $615,000
      ML approach
      $555,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $750,000
      6.5%
      $695,000
      7%
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $668,000
      Market price range: $614k - $1.47M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $980,000
      Current use
      COMMERCIAL (GENERAL)
      $900,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.5551
    Latitude
    24.9733
    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
    $5,538
    $398,475
    $244,963
    $643,438
    -
    $398,475
    $244,963
    $643,438

    Comparable in this City

    • Value Estimation
      $990,000
      3,010 SF

      85932 Overseas Hwy

      PROFESSIONAL BUILDING • 3,010 SF
      85932 Overseas Hwy, Islamorada, FL 33036-3300
      View Details
    • Value Estimation by Request
      1,596 SF

      110 Porto Salvo Dr

      OFFICE BUILDING (MULTI-STORY) • 1,596 SF
      110 Porto Salvo Dr, Islamorada, FL 33036-3319
      View Details
    • Value Estimation by Request
      980 SF

      160 Porto Salvo Dr

      OFFICE BUILDING (MULTI-STORY) • 980 SF
      160 Porto Salvo Dr, Islamorada, FL 33036-3319
      View Details
    • Value Estimation by Request
      1,092 SF

      86801 Old Hwy

      OFFICE BUILDING • 1,092 SF
      86801 Old Hwy, Islamorada, FL 33036-3146
      View Details
    • Value Estimation
      $1,395,000
      5,450 SF

      86490 Overseas Hwy

      OFFICE BUILDING • 5,450 SF
      86490 Overseas Hwy, Islamorada, FL 33036-3204
      View Details
    • Value Estimation by Request
      1,200 SF

      81581 Old Hwy

      OFFICE BUILDING • 1,200 SF
      81581 Old Hwy, Islamorada, FL 33036-3711
      View Details

    Similar Nearby for Sale

    • $1,195,000
      2,244 SF

      Islamorada Mixed-Use Investment Opportunity

      Two-story mixed-use building with income potential in Islamorada.
      88101 Old Hwy, Plantation Key, FL 33036
      View Details
    • $1,195,000
      2,244 SF

      Mixed-Use Commercial Building in Plantation Key

      Two-story mixed-use building with highway frontage and income potential.
      88101 Old Hwy, Plantation Key, FL 33036
      View Details
    • $1,899,000

      Islamorada Mixed-Use Commercial Property

      Luxury mixed-use property with highway frontage and flexible commercial/residential space.
      87847 Overseas Hwy, Islamorada, FL 33036
      View Details
    • $4,600,000
      0.21 Acres

      Islamorada Mixed-Use Commercial Property

      Versatile commercial property in Islamorada's established business corridor.
      105 Palm Ave Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    • Contact for pricing
      5,232 SF

      Islamorada Retail Space For Sale

      Prime commercial property with retail space and development potential.
      81900 Overseas Hwy, Islamorada, FL 33036
      View Details
    • $2,200,000
      4,942 SF

      Islamorada Restaurant Opportunity For Sale

      Iconic restaurant property with high visibility and redevelopment potential.
      81901 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
      View Details

    Similar Nearby for Lease

    • $600 /Mo
      163 SF

      Islamorada Office Spaces For Rent

      Charming office spaces available in Islamorada, Florida.
      88101 Old Hwy, Plantation Key, FL 33036
      View Details
    • $14,166 /Mo

      Islamorada Warehouse-Style Space Available

      Open warehouse space with flexible layout in central Islamorada.
      210 Industrial Dr, Islamorada, FL 33036
      View Details
    • $14,166 /Mo
      10,000 SF

      Islamorada Warehouse-Style Flexible Space

      10,000 SF open space with loading doors in Islamorada.
      210 Industrial Dr Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    • $1,200 /Mo

      Islamorada Outdoor Commercial Space Available

      Prime outdoor commercial space for lease in Islamorada, Florida.
      86701 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    View Listing
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    Plantation Key, FL 33036
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    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
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