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    102970 Overseas Hwy Key Largo, FL 33037

    View on Map
    Sponsored
    For Sale
    $2,965,000

    Retail, Detached - Key Largo, FL

    Type:Retail
    Property size:
    2,400 SF
    Lot size:
    0.46 Acres
    Days on Market:
    39
    Last Refresh:
    Mar 22 at 12:06 pm

    Property Features for 102970 Overseas Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Security features
    Security System
    Zoning
    SC
    APN
    00549410-000000
    Parking features
    Guest
    Interior features
    Security System
    Size
    2,400 SF
    Lot size
    0.46 Acres

    Utilities

    Heating system
    Central
    Water source
    Public

    Building Details

    Year built
    1991
    Flooring type
    Hardwood, Tile, Wood
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Santiago Sablon

    Florida Realty of Miami

    Listing agent Santiago Sablon License #3497373

    Listing date Feb 11, 2026

    MLS# A11905372 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Key Largo Retail Investment Opportunity

    This exceptional Florida Keys investment opportunity features a 2,400 SF self-standing building situated on almost a 1/4 acre lot. The property is located in the heart of Key Largo on MM 102.9, offering high visibility and easy access from both directions due to its prime corner location with Overseas Highway frontage at the intersection of Overseas Highway and George Street. Currently operating as an upscale bait and tackle shop, the business is offered with its running inventory, equipment, and fixtures for a smooth transition. An adjacent vacant lot of almost 1/4 acre is also included. The property is highly versatile and suitable for retail, restaurant, or professional office use. The adjacent lot is zoned residential, offering potential for future development. The total lot size is 0.4625 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Capt'n Pete's Pro ... (Bike/Boat/Book/etc) Store La Guajira Cafeteria Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.4086534
    Latitude
    25.1312847

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    FAQs

    What type of property is this?
    Retail space - 2,400 SF building with adjacent lot in Key Largo.
    Where is this retail space located?
    The property is located at 102970 Overseas Hwy Key Largo, FL.
    What is the asking price?
    The asking price for this property is $2,965,000.
    What are key features of this property?
    This property features: - Prime corner location on Overseas Highway (MM 102.9) in Key Largo with high visibility and easy access.; - 2,400 SF self-standing building on almost 1/4 acre, currently operating as an upscale Bait & Tackle Shop.; - Business offered with running inventory, equipment, and fixtures for a smooth transition.
    (786) 631-8785
    Request Owner's contact information
    102970 Overseas Hwy Key Largo, FL 33037
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    Key Largo, FL 33037
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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
    102970 Overseas Hwy Key Largo, FL 33037
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    We can help!
    Listing Contact
    Santiago Sablon
    Real Estate License ID: 3497373
    Learn More
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