Restaurant Property on Overseas
For Sale
Contact for pricing
105045 Overseas Highway, Key Largo, FL 33037
An established restaurant site in Key Largo is being offered for sale or potential ground lease.
Property Size2,024 SF
Price / SF$6.08
Days on Market50
Property Features for 105045 Overseas Highway
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Business
Additional Details
Highway Access
Yes
Currently Operating
Yes
Building Details
Year Built
1949
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Harry F Andrade · License #3223588
(786) 420-1905
Source:
Isaacsrealestate
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 28 at 2:37PM
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 Real Estate Sales Force
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Key Largo property is an operating restaurant site, with a building originally constructed in 1949. The property is offered for sale, and long-term ground lease arrangements are also being considered.
The site fronts Overseas Highway, the main roadway through the Florida Keys. Redevelopment or a new concept may be considered, subject to applicable approvals.
The site fronts Overseas Highway, the main roadway through the Florida Keys. Redevelopment or a new concept may be considered, subject to applicable approvals.
Key Highlights
- Overseas Highway frontage in Key Largo
- Operating restaurant site
- Building constructed in 1949
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,451
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,020
$549.0K
Cap Rate 7%
$392,157
$392.2K
Cap Rate 9%
$305,011
$305.0K
Market Conditions
NOI Build-Up for 2,024 SF
Gross rent
$43.7K $21.60/SF
− Vacancy
−$4.5K −$2.22/SF
EGI
$39.2K $19.38/SF
− OpEx
−$11.8K −$5.81/SF
NOI
$27.5K $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 Rate 5%
$549,020
Cap Rate 7%
$392,157
Cap Rate 9%
$305,011
Alternative Uses
Best Use
Specialty Retail
$447.3K
$391.4K – $521.9K
NOI $31,313 @ 7.0% cap · market cap 254.33%
Second Best
Retail
$392.2K
$343.1K – $457.5K
NOI $27,451 @ 7.0% cap · market cap 222.96%
Theoretical Best
Office A
$814.1K
$712.4K – $949.8K
NOI $56,989 @ 7.0% cap · market cap 462.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
20k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Winn-Dixie
Groceries
19,903 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - An established restaurant site in Key Largo is being offered for sale or potential ground lease.
Where is this conventional restaurant located?
The property is located at 105045 Overseas Highway Key Largo, FL.
What are key features of this property?
This property features: Overseas Highway frontage in Key Largo; Operating restaurant site; Building constructed in 1949
