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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    90311 Old Hwy Plantation Key, FL 33070

    • Community centers
    • 9,600 SF
    • 0.63 lot acres
    For Sale
    View listing
    $6,999,999
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2929820
    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.

    Current Use by Public Records

    • Community centers

    Property Details for 90311 Old Hwy

    Year built
    1981
    Lot size
    0.63 lot acres
    Property size
    9,600 SF
    Property type
    Community centers
    APN
    00436050-000000
    APU
    436050000000

    Description

    This exceptional waterfront investment property in Tavernier, Florida, presents a rare opportunity to acquire a highly visible, established business with significant development potential. The property encompasses four parcels totaling 9,600 square feet of building space, including the iconic Landmark Restaurant situated directly on Old Highway and Route 1, boasting 250 feet of road frontage. The property features over 713 feet of seawall and dockage, accommodating approximately 22 deep-water slips with direct ocean access. This turnkey operation includes a substantial existing restaurant, providing immediate income potential. Ample parking is available across the four parcels (Parcel ID #'s-00436050, 00436680, 00436090, 004366700). Adding to the value is a separate 1,114 square foot, two-story, concrete block single-family home located at 103 Harbor Drive, offering additional residential or management possibilities. The property's prime location and established infrastructure make it an ideal investment for both seasoned operators and those seeking a high-return waterfront venture. The property is priced at $8,900,000 and offers a unique blend of commercial and residential components in a highly desirable location. This is a truly exceptional opportunity to own a piece of Tavernier's vibrant waterfront.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $899,000
      Market price range: $403k - $1.17M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $680,000
      Current use
      WAREHOUSE, STORAGE
      $1,025,000
      Change: +50% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tavernier
    County
    Monroe
    State
    Florida
    Longitude
    -80.5366
    Latitude
    24.9998
    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
    $20,387
    $1,715,175
    $768,501
    $2,483,676
    -
    $1,715,175
    $768,501
    $2,483,676

    Comparable in this City

    • Value Estimation by Request
      4,717 SF

      91940 Overseas Hwy

      MINI-MALL • 4,717 SF
      91940 Overseas Hwy, Tavernier, FL 33070-2678
      View Details
    • Value Estimation
      $500,000
      9,128 SF

      91900 Overseas Hwy

      MINI-MALL • 9,128 SF
      91900 Overseas Hwy, Tavernier, FL 33070-2632
      View Details
    • Value Estimation
      $910,000
      12,760 SF

      88521 Overseas Hwy

      MINI-MALL • 12,760 SF
      88521 Overseas Hwy, Tavernier, FL 33070-2048
      View Details
    • Value Estimation
      $750,000
      7,288 SF

      90575 Old Hwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 7,288 SF
      90575 Old Hwy, Tavernier, FL 33070-2332
      View Details
    • Value Estimation by Request
      1,068 SF

      92101 Overseas Hwy, Unit 25

      PARKING LOT • 1,068 SF
      92101 Overseas Hwy, Tavernier, FL 33070-2656
      View Details
    • Value Estimation
      $1,405,000
      5,699 SF

      88665 Old Hwy

      RETAIL STORES (PERSONAL SERVICES) • 5,699 SF
      88665 Old Hwy, Tavernier, FL 33070-4005
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
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    • $38 SF/Yr
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      View Details
    • $2,800 /Mo

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    • $2,800 /Mo

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    Plantation Key, FL 33070
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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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