Sherwin Williams NNN Retail
For Sale
Contact for pricing
10501 Overseas Hwy, Marathon, FL 33050
Occupied by Sherwin Williams with landlord responsibility limited to the roof, structure, and foundation.
Property Size4,500 SF
Price / SF$398.89
Days on Market147
Property Features for 10501 Overseas Hwy
General Information
Standard status
Active
Size
4,500 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$107,700
Site & Location
Traffic Count
24,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1979
Year Renovated
2000
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Kevin McKenna · License #742093
Source:
Crexi
Added: Apr 9
Changed: Aug 31
Last Checked: Aug 31 at 1:36AM
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 Matthews
Investment Insights
Based on property information with market context.
This 4,500-square-foot retail property at 10501 Overseas Hwy in Marathon, Florida, was built in 1979 and is occupied by Sherwin Williams. The tenant has operated from the store for more than 21 years, while the lease limits landlord obligations to the roof, structure, and foundation. Corporately approved exterior repairs are scheduled for the end of Q1 through the beginning of Q2 2026.
The property sits directly off Overseas Highway, the primary road through the Florida Keys, with visibility to approximately 24,000 vehicles daily. The next closest Sherwin Williams locations are more than 40 miles away in Key Largo and Key West. Monroe County’s Rate of Growth Ordinance, or ROGO, restricts new permanent construction and limits additional supply in the market.
The property sits directly off Overseas Highway, the primary road through the Florida Keys, with visibility to approximately 24,000 vehicles daily. The next closest Sherwin Williams locations are more than 40 miles away in Key Largo and Key West. Monroe County’s Rate of Growth Ordinance, or ROGO, restricts new permanent construction and limits additional supply in the market.
Key Highlights
- 4,500‑square‑foot retail property at 10501 Overseas Hwy in Marathon, FL 33050
- Sherwin Williams has operated at the location for over 21 years
- Lease assigns landlord responsibility to the roof, structure, and foundation
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
$61,032
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
3.40%
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%
$1,220,640
$1.2M
Cap Rate 7%
$871,886
$871.9K
Cap Rate 9%
$678,133
$678.1K
Market Conditions
NOI Build-Up for 4,500 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
$97.2K $21.60/SF
− Vacancy
−$10.0K −$2.22/SF
EGI
$87.2K $19.38/SF
− OpEx
−$26.2K −$5.81/SF
NOI
$61.0K $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%
$1,220,640
Cap Rate 7%
$871,886
Cap Rate 9%
$678,133
Alternative Uses
Best Use
Retail
$871.9K
$762.9K – $1.02M
NOI $61,032 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,706 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 33050, FL
10,479
Population
7,314
Households
1.4
Avg Household Size
50
Median Age
34%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
1,152
Density / Sq Mi
$83,243
Median Household Income
$40,006
Median Earnings
$1,611
Median Rent
$705,600
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?
NNN property - Occupied by Sherwin Williams with landlord responsibility limited to the roof, structure, and foundation.
Where is this nnn property located?
The property is located at 10501 Overseas Hwy Marathon, FL.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 4,500‑square‑foot retail property at 10501 Overseas Hwy in Marathon, FL 33050; Sherwin Williams has operated at the location for over 21 years; Lease assigns landlord responsibility to the roof, structure, and foundation
