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    The Largest CRE Database in the US with Over 1 Million Listings

    74560 Overseas Hwy Islamorada, FL 33036

    Sponsored
    For Sale
    $4,100,000

    Apartment 3 or more,Bar,Retail,Professional Service,Marina,Restaurant

    Property size:
    5,640 SF
    Lot size:
    0.34 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 19 at 5:06 pm

    Property Features for 74560 Overseas Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CF - Commercial Fishing
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    5
    APN
    00394480-000105
    Appliances
    Dishwasher, Dryer, Refrigerator, Washer
    Size
    5,640 SF
    Lot size
    0.34 Acres

    Utilities

    Water front features
    Oceanfront, Waterfront
    Water front
    1

    Building Details

    Year built
    1983
    Floors in Building
    3
    Architectural style
    Other

    We can help!

    Listing Contact
    Alina Davis
    Alina Davis

    Coldwell Banker Schmitt Islamorada (305) 664-4470

    Listing agent Alina Davis (305) 664-4470 License #3216995

    Listing date Feb 18, 2026

    MLS# 618699 Listing URL

    Copyright © 2026 Florida Keys Board of 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

    Waterfront Commercial Asset with Redevelopment Potential

    Located at 74560 Overseas Highway, this waterfront commercial asset offers multiple revenue streams and significant redevelopment potential. The property is situated on a 15,000 square foot parcel with ample on-site parking and 100 feet of seawall, accommodating up to 8 slips. It benefits from premier highway exposure and direct access to Florida Bay and the Atlantic Ocean. The Commercial Fishing (CF) zoning supports various uses, including four affordable housing units, one market-rate residence, and 5,640 square feet of commercial space, enabling a diversified income strategy that combines residential density with marine-oriented business activities. The existing structure features expansive wraparound windows providing sweeping Atlantic views, along with a top-floor penthouse suite suitable for owner occupancy, executive housing, or premium rental use, subject to approvals. The building configuration can also accommodate a rooftop helipad. Permitted uses under the Commercial Fishing zoning include a destination restaurant, seafood market, marine outfitter, charter or backcountry fishing headquarters, and marina-support retail. This high-visibility commercial platform combines housing, marine access, and US-1 frontage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Bar & Pub Grocery & Convenience Store Food Market Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.728779
    Latitude
    24.857004

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    FAQs

    What type of property is this?
    Specialty property - Waterfront commercial property with multiple revenue paths and redevelopment potential.
    Where is this specialty property located?
    The property is located at 74560 Overseas Hwy Islamorada, FL.
    What is the asking price?
    The asking price for this property is $4,100,000.
    What are key features of this property?
    This property features: - Premier highway exposure with immediate Florida Bay and Atlantic Ocean access.; - Significant redevelopment potential with zoning supporting multiple revenue streams: affordable housing, market-rate residence, and commercial space.; - 100 feet of seawall capable of accommodating up to 8 slips.
    (305) 743-5181
    Request Owner's contact information
    74560 Overseas Hwy Islamorada, FL 33036
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    Islamorada, 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
    74560 Overseas Hwy Islamorada, FL 33036
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    We can help!
    Listing Contact
    Alina Davis
    Alina Davis
    Real Estate License ID: 3216995
    (305) 743-5181 (305) 393-0541 (305) 664-4470
    Learn more
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