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

    8700 Overseas Hwy Marathon, FL 33050

    Sponsored
    For Sale
    $6,900,000

    Other Services - Marathon, FL

    Days on Market:
    307
    Last Refresh:
    Feb 4 at 2:06 am

    Property Features for 8700 Overseas Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MU - Mixed Use Commercial Mixed Use
    APN
    00101050-000100
    Parking features
    Covered
    Appliances
    Dishwasher, Washer

    Utilities

    Water front features
    Canal Front, Oceanfront, Waterfront
    Water front
    1

    Building Details

    Flooring type
    Tile
    Building materials
    Concrete, Other
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jo Ann Cook
    Jo Ann Cook

    Ocean Sotheby's International Realty (305) 735-4095

    Listing agent Jo Ann Cook (305) 735-4447 License #3330898

    Listing date Apr 4, 2025

    MLS# 613755 Listing URL

    Copyright © 2026 Marathon and Lower Keys Association 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

    Oceanfront Development Opportunity in Marathon

    This 1.67-acre oceanfront property presents a development opportunity in the Economic Opportunity Zone of the Middle Keys. It features a concrete seawall already in place, designed for five 30-foot dock spaces and five 30 to 40-foot T-docks, currently in permitting. A development agreement is in place with the City of Marathon for ten single-family villas, with ten building entitlements available to commence construction immediately. The planned villas will be of concrete construction, featuring four bedrooms, three and a half bathrooms, 2,643 square feet of air-conditioned space, impact-resistant windows and doors, metal roofs, open porches, a rooftop deck, an elevator, private pools, and assigned docks. The property includes a protected boat basin with six lots and four oceanfront point lots offering direct ocean views and access. This parcel is zoned MU - Mixed Use Commercial Mixed Use. The property could be suitable as a private multi-family compound or developed into ten vacation rental income-producing villas, potentially benefiting from tax advantages within the EOZ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Seaward Landing Apartment Complex

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Marathon
    County
    Monroe
    State
    Florida
    Longitude
    -81.052839
    Latitude
    24.722873

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    FAQs

    What type of property is this?
    Commercial land - 1.67-acre oceanfront property with development agreement for 10 villas.
    Where is this commercial land located?
    The property is located at 8700 Overseas Hwy Marathon, FL.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: - Direct oceanfront development opportunity in an Economic Opportunity Zone (EOZ) offering tax benefits.; - Includes development agreement with the City of Marathon for (10) single family villas and (10) building entitlements in hand.; - Concrete seawall in place for (5) 30' dock spaces and (5) 30'-40' T-Docks are in permitting.
    (305) 360-7968
    Request Owner's contact information
    8700 Overseas Hwy Marathon, FL 33050
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    Marathon, FL 33050
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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
    8700 Overseas Hwy Marathon, FL 33050
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    We can help!
    Listing Contact
    Jo Ann Cook
    Jo Ann Cook
    Real Estate License ID: 3330898
    (305) 360-7968
    Learn more
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