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Kathleen Mott Acquires Single Family Home At 400 Palm Drive From Lazaro And Marialina Martinez For $5.6M

Property Image
SOLD
$5,600,000
Dominic Rivera
Alexander Pinero

Florida

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Single Family Residence4,700 SF
Sold 05/09/2025
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Property Image
SOLD

Kathleen Mott Acquires Single Family Home At 400 Palm Drive From Lazaro And Marialina Martinez For $5.6M

400 Palm Drive

See Similar Deals
Single Family Residence4,700 SF
Sold 05/09/2025
Dominic Rivera
Alexander Pinero
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,191
Total Square Footage:4,700 SF
Transaction Type:Sale

The asset involved in this transaction is a single-family home located at 400 Palm Drive in Islamorada. The property was sold for $5,600,000, featuring 4,700 square feet of living space, which equates to a price per square foot of $1,191.

Summary of transation details:

  • Property Type: Single Family
  • Transaction Amount: $5,600,000
  • Address: 400 Palm Drive
  • Market: Islamorada
  • Square Footage: 4,700
  • Price Per Square Foot: $1,191
  • Buyer: Kathleen Mott
  • Seller: Lazaro Rolando Martinez & Marialina Martinez
  • Seller's Representative: Alexander Pinero & Dominic Rivera - Pine River Realty

Pine River Realty has achieved a notable milestone, recording the highest sale of a traditional canal-front home in Islamorada, FL. The property at 400 Palm Drive was initially sold for redevelopment in 2022 and was successfully re-listed upon completion, selling in under four months.

Players

Alexander Pinero
Alexander Pinero
8 deals$30.7M volume
BROKER
Dominic Rivera
Dominic Rivera
9 deals$31M volume
BROKER

Details

SOLD
IMAGE: Alexander Pinero & Dominic Rivera DATE: 5/9/2025 ADDRESS: 400 Palm Drive MARKET: Islamorada ASSET TYPE: Single Family BUYER: Kathleen Mott SELLER: Lazaro Rolando Martinez & Marialina Martinez SELLER'S REP: Alexander Pinero (@Pinero_Alexander_) & Dominic Rivera - Pine River Realty (@PineRiverRealty) SALE PRICE: $5,600,000 SF: 4,700 ~ PPSF: $1,191 NOTE FROM BROKER: Pine River Realty just set the record as the highest sale of a traditional canal-front home. in Islamorada, FL. We’re happy to share that 400 Palm Drive has officially sold—again! Originally sold for redevelopment in 2022, this beautifully reimagined home was re-listed upon completion and sold in under four months. RolandoMartinez

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$298,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28