Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    99202 Overseas Hwy Key Largo, FL 33037

    View on Map
    Sponsored
    For Sale
    $14,900,000

    Hotel/Motel,Bar,Other Services,Restaurant - Key Largo, FL

    Property size:
    23,092 SF
    Lot size:
    1.14 Acres
    Days on Market:
    44
    Last Refresh:
    Mar 12 at 1:06 am

    Property Features for 99202 Overseas Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    SC - Sub Urban Commercial District
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    50
    Bathrooms
    50
    APN
    00504940-000000
    Appliances
    Refrigerator
    Size
    23,092 SF
    Lot size
    1.14 Acres

    Building Details

    Year built
    1953
    Roof type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Gregory Dully
    Gregory Dully

    RE/MAX All Keys Real Estate (305) 451-0060

    Listing agent Gregory Dully (305) 451-0060 License #3420625

    Listing date Jan 27, 2026

    MLS# 615905 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

    Turnkey Inn & Hospitality Investment

    This fully operational and income-producing inn is located in a prime Key Largo location. The property spans 49,500 sq. ft. of land with 23,092 sq. ft. of building space and offers a rare combination of scale, flexibility, and future development potential. The Key Largo Inn has 50 total guest rooms--including 38 standard rooms and 12 spacious two-room suites with king beds and sleeper sofas. On-site amenities include a resort-style outdoor pool, and a restaurant and bar licensed with a 5COP full liquor license, allowing full-service alcohol sales. The property has a highly visible location with 450 feet on US 1 and includes 9 parcels in the sale. With 50 valuable transient licenses (nightly rentals) TDR's, this property provides exceptional short-term rental income and flexibility. The licenses are transferable and can be sold off separately, offering additional monetization or redevelopment options. The zoning is SC - Sub Urban Commercial District. Whether to continue operating this thriving inn or reposition the site for alternative commercial or mixed-use purposes, this is a one-of-a-kind investment opportunity in one of the Florida Keys' most desirable and high-demand markets.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Key Largo Inn Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.444143
    Latitude
    25.09027

    Nearby Similar for Sale

    • New
      Contact for pricing

      Highway Frontage Commercial Building

      Commercial building with highway frontage and additional rental options.
      106600 Overseas Hwy, Key Largo, FL 33037
      View Details
    • New
      Contact for pricing

      Highway Frontage Commercial Building

      Commercial building with highway frontage and upstairs space for lease.
      106600 Overseas Hwy, Key Largo, FL 33037
      View Details
    • New
      Contact for pricing

      Unfinished Retail Space Opportunity

      Second floor unfinished retail space available for sale.
      106600 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $300,000

      Key Largo Vacant RV Lot

      Vacant RV lot in Key Largo Kampground & Marina.
      101551 Overseas Hwy, Key Largo, FL 33037
      View Details
    • Contact for pricing

      Key Largo Commercial Space Available

      5,457 sqft commercial space in Key Largo for lease.
      99451 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $750,000
      2,197 SF

      Key Largo Multifamily Investment Opportunity

      Multifamily property with vacant lot near Tavernier park.
      185 Dove Lake Dr, Key Largo, FL 33070
      View Details
    • $13,499,000
      1.77 Acres

      Waterfront Property for Rehab/Assisted Living

      Waterfront property ideal for rehab center or assisted living facility.
      97340-60 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $799,000
      1,496 SF

      Updated Duplex Near Harry Harris

      Legal duplex near oceanfront park, updated with modern amenities.
      102 Harry Harris Dr, Key Largo, FL 33070
      View Details
    • $4,900,000

      Iconic Waterfront Restaurant and Bar

      Legendary waterfront restaurant/bar with long-term lease in Key Largo, FL.
      58000 Card Sound Rd, Key Largo, FL 33037
      View Details
    • $2,199,000

      Key Largo Restaurant with Drive-Through

      Profitable franchise with real estate and drive-through in Key Largo.
      92661 Overseas Hwy, Key Largo, FL 33037
      View Details
    • Contact for pricing
      26.00 Acres

      Private Island with Marina

      26-acre private island with marina and mainland home.
      10 Cannon Pt, Key Largo, FL 33037
      View Details
    • $2,995,000

      Mixed-Use Commercial Building For Sale

      Mixed-use commercial building with US 1 visibility in Tavernier.
      92295 Old State Rd, Key Largo, FL 33070
      View Details

    FAQs

    What type of property is this?
    Hotel - Income-producing inn with development potential in prime Key Largo location.
    Where is this hotel located?
    The property is located at 99202 Overseas Hwy Key Largo, FL.
    What is the asking price?
    The asking price for this property is $14,900,000.
    What are key features of this property?
    This property features: - Turnkey, income-producing inn in a prime Key Largo location.; - Includes **50 transferable transient licenses (nightly rentals)** offering exceptional short-term rental income.; - Features a 5COP full liquor license for the on-site restaurant and bar.
    (305) 900-4232
    Request Owner's contact information
    99202 Overseas Hwy Key Largo, FL 33037
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    99202 Overseas Hwy
    Key Largo, FL 33037
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    99202 Overseas Hwy Key Largo, FL 33037
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gregory Dully
    Gregory Dully
    Real Estate License ID: 3420625
    (305) 900-4232 (305) 451-0060
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!