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    Islamorada Outdoor Commercial Space Available Title is generated by Realmo AI

    86701 Overseas Highway Upper Matecumbe Key, Islamorada, FL 33036

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    For Lease
    $1,200 /Mo

    COMMERCIAL - Upper Matecumbe Key Islamorada, FL

    Added:
    Jul 23, 2025
    Days on Market:
    304
    Last Refresh:
    May 22 at 1:06 pm

    Property Features for 86701 Overseas Highway Upper Matecumbe Key

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    1505315

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    Gregory Dully
    Gregory Dully

    Listing agent Gregory Dully License #3420625

    Listing office RE/MAX All Keys Real Estate 98880 Overseas Hwy., Key Largo, FL

    Listing date Jul 23, 2025

    MLS# 615906

    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.

    HighLights

    • Prime Islamorada location in a high‑traffic shopping plaza with ample parking and excellent visibility on Overseas Highway/US‑1
    • Versatile outdoor space suitable for a wide range of mobile business concepts (storage, rentals, tours, retail, services)
    • Benefits from the plaza's established customer base and year‑round tourist traffic
    • Optional add‑on: Access to an outdoor covered deck with seating for up to 24 people
    • Approved uses include various rental operations (bicycle, golf cart, kayak, paddleboard, boat, jet ski), tour sales offices, retail pop‑up shops, and mobile services
    • Rare opportunity to establish a mobile or seasonal business in a desirable Florida Keys market

    Overview

    This outdoor commercial space is available for lease in a prime Islamorada location. Situated in a bustling shopping plaza with high visibility, the space benefits from strong foot traffic and ample parking. It is suitable for a range of mobile business concepts, including outdoor storage for contractors, trucks, and trailers, mobile offices or rental trailers, bicycle rentals, golf cart rentals, kayak or paddleboard rentals, boat rental sales offices, jet ski tours sales offices, fishing charters or snorkel/scuba diving tours sales offices, eco or sightseeing tour operations sales offices, watersport equipment sales sales offices, boutique pop-up shops, local artisan or craft vendors, mobile car detailing services, or adventure guide services booking kiosks. Food truck operations are permitted, excluding Mexican cuisine, breakfast offerings, and ice cream. The location offers exposure on Overseas Highway/US-1 and benefits from the plaza's established customer base and year-round tourist traffic. An optional add-on includes access to an outdoor covered deck with seating for up to 24 people, suitable for pre-tour check-ins, shaded waiting areas, customer lounge space, or dining tables. Businesses must operate from a professionally wrapped trailer, truck, or kiosk unit. The sale of Mexican food, breakfast items, or ice cream is prohibited. Proof of insurance, business licensing, and Village of Islamorada approval are required.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.7192
    Latitude
    24.8649

    Nearby Similar for Lease

    • $14,166/Mo
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      Islamorada Warehouse-Style Flexible Space

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      View Details
    • $14,166/Mo
      10,000 SF

      Islamorada Warehouse-Style Space Available

      Open warehouse space with flexible layout in central Islamorada.
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    FAQs

    What type of property is this?
    Retail space - Prime outdoor commercial space for lease in Islamorada, Florida.
    Where is this retail space located?
    The property is located at 86701 Overseas Highway Upper Matecumbe Key Islamorada, FL.
    What is the lease rate?
    The lease rate is $1,200 /Mo.
    What are key features of this property?
    This property features: Prime Islamorada location in a high‑traffic shopping plaza with ample parking and excellent visibility on Overseas Highway/US‑1; Versatile outdoor space suitable for a wide range of mobile business concepts (storage, rentals, tours, retail, services); Benefits from the plaza's established customer base and year‑round tourist traffic
    (305) 900-4232
    We can help!
    Listing Contact
    Gregory Dully
    Gregory Dully
    Real Estate License ID: 3420625
    Learn More
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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.

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    86701 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036
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