Free-Standing Mixed-Use Retail
For Sale
$1,790,000
100636 Overseas Highway, Key Largo, FL 33037
Ground-floor storefront with office and storage, plus an upstairs 3BD/3BA renovated apartment and parking on US-1.
Property Size4,910 SF
Days on Market47
Property Features for 100636 Overseas Highway
General Information
Standard status
Active
Size
4,910 SF
Total Parking Spaces
10
Zoning
SC - Sub Urban Commercial District
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,419
Building Details
Building Size
4,910 SF
Year Built
1974
Stories
2
Listing Agency:
LoKation Real Estate - Key Largo
(786) 309-6389
Listed By:
Maris Delgado · License #3633235
(786) 309-6389
Source:
Laerrealty
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 22 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LoKation Real Estate - Key Largo
Investment Insights
Based on property information with market context.
This free-standing concrete mixed-use building includes a commercial storefront on the ground floor with office and storage space. The property also features a fully renovated upstairs residential unit with 3 bedrooms and 3 bathrooms, making it suitable for an owner-operator, staff housing, or rental use. Exterior and durability features include impact windows and shutters, and the structure is described as approximately 15 feet above sea level. Additional amenities include a rooftop area, patio, and private yard space, supporting both commercial and residential living needs.
The building is positioned directly on US-1 and described as a high-visibility site with strong signage, exposure, and customer access for local and tourist traffic. On-site parking is noted as 5 spaces, along with 5 additional rented spaces. A long-term business currently operates on the first floor, and information about an optional business purchase is available separately.
For tenants, buyers, or operators seeking a combined commercial and residential setup, the ground-floor storefront layout with office and storage can support a range of retail and service concepts, while the renovated second-floor apartment provides immediate on-site living or income potential. The property is also described as having flexible zoning, supporting multiple operating strategies depending on buyer requirements.
The building is positioned directly on US-1 and described as a high-visibility site with strong signage, exposure, and customer access for local and tourist traffic. On-site parking is noted as 5 spaces, along with 5 additional rented spaces. A long-term business currently operates on the first floor, and information about an optional business purchase is available separately.
For tenants, buyers, or operators seeking a combined commercial and residential setup, the ground-floor storefront layout with office and storage can support a range of retail and service concepts, while the renovated second-floor apartment provides immediate on-site living or income potential. The property is also described as having flexible zoning, supporting multiple operating strategies depending on buyer requirements.
Key Highlights
- Free‑standing concrete mixed‑use building built in 1974 directly on US‑1
- Ground‑floor commercial storefront with office and storage plus long‑term business currently operating
- Upstairs fully renovated 3BD/3BA residential apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,192
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,523,840
$1.5M
Cap Rate 7%
$1,088,457
$1.1M
Cap Rate 9%
$846,578
$846.6K
Market Conditions
NOI Build-Up for 4,910 SF
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.
Gross rent
$148.5K $30.24/SF
− Vacancy
−$9.9K −$2.03/SF
EGI
$138.5K $28.21/SF
− OpEx
−$62.3K −$12.70/SF
NOI
$76.2K $15.52/SF
Area
Monroe County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,523,840
Cap Rate 7%
$1,088,457
Cap Rate 9%
$846,578
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$952.4K – $1.27M
NOI $76,192 @ 7.0% cap · market cap 4.26%
Second Best
Retail
$951.3K
$832.4K – $1.11M
NOI $66,593 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,250 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
40k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 37%
McDonald's
Dining
19,285 visits/mo
0.4 miles
Dollar Tree
Shops & Services
14,166 visits/mo
0.4 miles
Waffle House
Dining
5,802 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
856 visits/mo
0.4 miles
Demographics for 33037, FL
13,875
Population
10,494
Households
1.3
Avg Household Size
53
Median Age
41%
College-Educated
95%
High-School Grad
32.9 sq mi
ZIP Area
422
Density / Sq Mi
$80,911
Median Household Income
$40,641
Median Earnings
$1,896
Median Rent
$660,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor storefront with office and storage, plus an upstairs 3BD/3BA renovated apartment and parking on US-1.
Where is this storefront property located?
The property is located at 100636 Overseas Highway Key Largo, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Free‑standing concrete mixed‑use building built in 1974 directly on US‑1; Ground‑floor commercial storefront with office and storage plus long‑term business currently operating; Upstairs fully renovated 3BD/3BA residential apartment
