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    Prime US-1 Mixed-Use Opportunity

    92295 Old State Road Key Largo, FL 33070

    92295 Old State Road, Key Largo, FL, 33070
    $2,895,000
    For Sale
    Claim this Listing
    $2,895,000

    COMMERCIAL - Key Largo, FL

    Property Size6,241 SF
    Lot Size0.86 Acres
    Price / SF$463.87
    AddedApr 13
    Days on Market95
    Last RefreshJul 16 at 8:06 am

    Property Features for 92295 Old State Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    SC - Sub Urban Commercial
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 4, Bathroom 6, Bathroom 3, Bathroom 2, Bathroom 5
    Appliances
    No Appliances
    Standard status
    Active
    APN
    00482650-000000
    Size
    6,241 SF
    Lot size
    0.86 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    TAVERNIER OCEAN SHORES PB4-112 KEY LARGO LOTS 1-3 & 27-62-38 ISLAND OF KEY LARGO PT LOT 8 OR517-691 OR1365-808 OR1387-24
    Tax Annual Amount
    16461

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Floors in Building
    1
    Building materials
    CBS
    Roof type
    Metal

    Listing agent Claudette Mell License #3015412

    Listing office Ocean Sotheby's International Realty 81888 Overseas Hwy, Islamorada, FL

    Listing date Apr 13, 2026

    MLS# 619473

    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.

    Located in Tavernier, this mixed-use commercial building offers an investment opportunity with 313 feet of US-1 highway frontage. The solid concrete building features approximately 6,214 square feet of space on a 37,477 square foot fenced lot. The property is configured with six separate units or suites, connected by exterior walkways, providing flexibility for multiple tenants or diverse business operations. Each unit includes a half bathroom, with two additional restrooms accessible via exterior walkways. Positioned on the northbound side of US-1 with access to the southbound lane, the location ensures accessibility for customers and clients. The property is suited for retail, office, medical, educational, fitness, or storage purposes. Located in Key Largo, Florida, this commercial real estate is located in Monroe County. The property is zoned as SC - Sub Urban Commercial.

    Key Highlights

    • Prime US‑1 highway frontage (313 feet) in Tavernier with high visibility and traffic.
    • Mixed‑use commercial building with approximately 6,214 sq. ft. of space.
    • Six separate units/suites, providing flexibility for multiple tenants or diverse business operations.

    Local Financial Insights For Office B

    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 $187.2k $30.00
    − Vacancy −$30.3k −$4.86
    EGI $156.9k $25.14
    − OpEx −$39.2k −$6.29
    NOI $117.7k $18.86
    6,241 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.68M
    $1.47M – $1.96M (±1% cap)
    NOI $117,674 @ 7.0% cap · market cap 4.06%
    Second Best
    Mixed Use
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,126 @ 7.0% cap · market cap 2.97%
    Theoretical Best
    Office A
    $2.51M
    $2.20M – $2.93M (±1% cap)
    NOI $175,727 @ 7.0% cap · market cap 6.07%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Building Supply Plumbing Service Auto Parts Store Parking Lot & Garage (Bike/Boat/Book/etc) Store Garden Center Hair Salon Big Box & Wholesale Store Nail Salon Veterinary Clinic

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

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use commercial building with highway frontage in Tavernier.
    Where is this mixed-use property located?
    The property is located at 92295 Old State Road Key Largo, FL.
    What is the asking price?
    The asking price for this property is $2,895,000.
    What are key features of this property?
    This property features: Prime US‑1 highway frontage (313 feet) in Tavernier with high visibility and traffic.; Mixed‑use commercial building with approximately 6,214 sq. ft. of space.; Six separate units/suites, providing flexibility for multiple tenants or diverse business operations.
    Contact an agent
    (305) 393-1839
    We can help!
    Contact an agent
    Claudette Mell
    Real Estate License ID: 3015412
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