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82705 Overseas Hwy Islamorada, FL 33036

Sponsored
For Sale
$6,500,000

High-Yield, Multi-Building Commercial Complex

Description

Added:
Feb 3, 2025
Days on Market:
342
This exceptional Islamorada commercial property presents a lucrative investment opportunity with a 7.7% cap rate at the asking price of $6,500,000. Strategically located in the heart of Islamorada, this property boasts 264 feet of frontage on Overseas Highway and an additional 277 feet on the Old Highway, ensuring high visibility and accessibility. The complex comprises three distinct buildings totaling 9,124 square feet of gross building area. Building 1 is a thriving retail hardware store. Building 2 combines a boat sales and service office with two income-generating, one-bedroom, one-bathroom apartments on the second floor. Building 3 provides valuable storage shed and workshop space. All buildings are currently 100% occupied under long-term, true NNN leases, minimizing landlord responsibilities and maximizing return on investment. Significant renovations and additions were completed in 2021 and 2023, ensuring the property is in excellent condition. Ample parking is available, complemented by extensive open-air boat storage, catering to the local maritime community. This turnkey operation offers a rare chance to acquire a high-performing commercial asset in a prime Islamorada location. The combination of strong tenant occupancy, favorable lease terms, and recent improvements makes this a compelling investment prospect.

Property Features for 82705 Overseas Hwy

General Information

Property type
Other commercial real estate

Building Details

Year Built
1960

Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Restaurant Spa & Massage Wholesale Shop Realty agency Auto Repair Shop Hair Salon Auto Parts Store Gym & Fitness Department Store Skin Care Clinic

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

Location Insight

  • Map
  • Local Demand
City
Islamorada
County
Monroe
State
Florida
Longitude
-80.62491
Latitude
24.92684

FAQs

What type of property is this?
Commercial real estate - High-Yield, Multi-Building Commercial Complex
Where is this commercial real estate located?
The property is located at 82705 Overseas Hwy Islamorada, FL.
What is the asking price?
The asking price for this property is $6,500,000.
More about this property
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