Auto Shop with Paved Operating
New
For Sale
$6,500,000
101500 OVERSEAS Highway, Key Largo, FL 33037
Commercial auto facility with an existing service building, paved operating area, and open yard capacity.
Property Size17,076 SF
Lot Size1.79 Acres
Price / SF$380.65
Days on Market5
Property Features for 101500 OVERSEAS Highway
General Information
Standard status
Active
Size
17,076 SF
Lot size
1.79 Acres
Property subtype
Commercial
Site & Location
Road Frontage
745 ft
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Business Included
Yes
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$19,554
Amenities
service building
Central air
Aluminum Roof
Central Air Cooling
Central Heating
Building Details
Year Built
1953
Listing Agency:
SUTTER & NUGENT LLC
Listed By:
DANIEL HAMPSON · License #B26061668
Source:
Corcoran
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 5:07AM
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 SUTTER & NUGENT LLC
Investment Insights
Based on property information with market context.
This 17,076-square-foot auto shop property occupies 1.79 acres and includes an existing service building, a broad paved operating area, and additional open yard space. Built in 1953, the site supports an established automotive-service configuration with room for outdoor operations.
The property fronts approximately 745 feet along US-1 at 101500 Overseas Highway in Key Largo, serving as a roadside commercial location along the primary roadway connecting Key Largo and the Florida Keys. Its substantial frontage and visible position provide direct exposure from the main corridor. The site also carries flexible zoning, with additional details available from the listing agents.
The property fronts approximately 745 feet along US-1 at 101500 Overseas Highway in Key Largo, serving as a roadside commercial location along the primary roadway connecting Key Largo and the Florida Keys. Its substantial frontage and visible position provide direct exposure from the main corridor. The site also carries flexible zoning, with additional details available from the listing agents.
Key Highlights
- 17,076‑square‑foot property on 1.79 acres
- Approximately 745 feet of frontage along US‑1
- Existing service building built in 1953
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
$231,596
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
3.56%
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%
$4,631,920
$4.6M
Cap Rate 7%
$3,308,514
$3.3M
Cap Rate 9%
$2,573,289
$2.6M
Market Conditions
NOI Build-Up for 17,076 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
$368.8K $21.60/SF
− Vacancy
−$38.0K −$2.22/SF
EGI
$330.9K $19.38/SF
− OpEx
−$99.3K −$5.81/SF
NOI
$231.6K $13.56/SF
Area
Monroe County, FL
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,631,920
Cap Rate 7%
$3,308,514
Cap Rate 9%
$2,573,289
Alternative Uses
Best Use
Retail
$3.31M
$2.89M – $3.86M
NOI $231,596 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$3.28M
$2.87M – $3.82M
NOI $229,410 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$6.87M
$6.01M – $8.01M
NOI $480,806 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
92k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 52%
Groceries 42%
Dining 6%
Publix
Groceries
38,804 visits/mo
0.1 miles
Burlington
Apparel
21,369 visits/mo
0.2 miles
T.J. Maxx
Apparel
19,047 visits/mo
0.2 miles
Bealls
Apparel
7,030 visits/mo
0.2 miles
Arby's
Dining
5,261 visits/mo
0.2 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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- Towing Señor Marin — 59 Silver Springs Dr, Key Largo, FL 33037
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial auto facility with an existing service building, paved operating area, and open yard capacity.
Where is this auto shop located?
The property is located at 101500 OVERSEAS Highway Key Largo, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 17,076‑square‑foot property on 1.79 acres; Approximately 745 feet of frontage along US‑1; Existing service building built in 1953
