Islamorada Legacy Ice Cream
86701 Overseas Hwy Upper Matecumbe Key Islamorada, FL 33036
For Sale
$375,000
COMMERCIAL - Upper Matecumbe Key Islamorada, FL
Property Size931 SF
Lot Size1.69 Acres
Price / SF$402.79
Days on Market365
Property Features for 86701 Overseas Hwy Upper Matecumbe Key
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- HC - Highway Commercial
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Patio and Porch features
- Patio
- Appliances
- Freezer
- Standard status
- Active
- APN
- 00411080-000000
- Size
- 931 SF
- Lot size
- 1.69 Acres
Building Details
- Year built
- 1991
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- CBS
Listing Agency:
RE/MAX All Keys Real Estate
(305) 451-0060
Listed By:
Gregory Dully · License #3420625
(305) 900-4232
Added: Jul 25, 2025
Changed: May 21
Last Checked: Jul 24 at 5:06PM
MLS# 615934
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.
Investment Insights
Based on property information with market context.
Offered for sale is a turnkey legacy business, an ice cream shop operating for 62 years. Located in a highly visible shopping center in Islamorada, across from Founders Park, this establishment has been a local favorite and a visitor destination for over six decades. The 931 square foot property includes the business name, FF&E, and recipes. Everything is made in-house, from ice creams to gelatos and sorbets, including signature waffle cones. The property is zoned HC - Highway Commercial and situated on a 1.69-acre lot. This venture presents a tremendous upside for a new owner ready to take it to the next level, whether as a hands-on operator, brand-builder, or investor seeking a location in the Keys with built-in cash flow and brand equity. The property is suitable for conventional restaurants, restaurants, storefront properties, retail properties and spaces, and commercial real estate.
Key Highlights
- Turnkey legacy ice cream business with 62 years of operation.
- Prime location in a highly visible shopping center in Islamorada, across from Founders Park.
- Established brand equity and built‑in cash flow.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.1k | $21.60 |
| − Vacancy | −$905 | −$0.97 |
| EGI | $19.2k | $20.63 |
| − OpEx | −$4.8k | −$5.16 |
| NOI | $14.4k | $15.47 |
931 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$205.8K
$180.1K – $240.1K
NOI $14,404 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$374.5K
$327.7K – $436.9K
NOI $26,214 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Turnkey ice cream business in highly visible Islamorada location.
Where is this conventional restaurant located?
The property is located at 86701 Overseas Hwy Upper Matecumbe Key Islamorada, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Turnkey legacy ice cream business with 62 years of operation.; Prime location in a highly visible shopping center in Islamorada, across from Founders Park.; Established brand equity and built‑in cash flow.
