Contiguous Medical Office
For Sale
$725,000
5701 Overseas Hwy 10, Marathon, FL 33050
Three contiguous office units offer flexible medical or professional office configurations within a prominent highway retail corridor.
Property Size2,556 SF
Price / SF$283.65
Days on Market52
Property Features for 5701 Overseas Hwy 10
General Information
Standard status
Active
Size
2,556 SF
Zoning
MU - Mixed Use Commercial Mixed Use
Additional Details
Highway Access
Yes
Office Units
17
Taxes and HOA fees
Annual Taxes
$1,686
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
Lokation Real Estate
(305) 733-0025
Listed By:
Angela Palma
(305) 733-0025
Source:
Laerrealty
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 26 at 5:48AM
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
Investment Insights
Based on property information with market context.
Units 8, 9, and 10 are offered together at The First Professional Centre, a highly visible 17-unit CBS elevated complex. The combined offering totals 2,556 square feet across three units, with Units 8 and 9 currently configured as a single combined medical office suite. Unit 10 operates as a separate medical office with interior access to Units 8 and 9, allowing the space to function as one larger unified layout if desired. While the space is currently suited for medical use, it is described as appropriate for other professional office purposes.
The property is located on Overseas Highway in Marathon, positioned in a high-traffic corridor near Gulfside Village and major retailers including Winn-Dixie, Publix, and Walgreens. The complex provides shared, spacious parking, and it features prominent business signage along Overseas Highway for roadside visibility.
Designed for professional office use, the offering is governed by condominium association rules that restrict use to professional office. With contiguous availability and optional interior connectivity between the suites, this configuration can support medical practices and other professional office operations that benefit from flexible space planning while remaining within a well-known office complex environment.
The property is located on Overseas Highway in Marathon, positioned in a high-traffic corridor near Gulfside Village and major retailers including Winn-Dixie, Publix, and Walgreens. The complex provides shared, spacious parking, and it features prominent business signage along Overseas Highway for roadside visibility.
Designed for professional office use, the offering is governed by condominium association rules that restrict use to professional office. With contiguous availability and optional interior connectivity between the suites, this configuration can support medical practices and other professional office operations that benefit from flexible space planning while remaining within a well-known office complex environment.
Key Highlights
- 3 contiguous professional office units (8, 9 & 10) totaling 2,556 SF in The First Professional Centre
- Units 8 and 9 are currently configured as a combined medical office suite (852 SF each)
- Unit 10 is a separate medical office (852 SF) with interior access to Units 8 & 9 for flexible use
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
$48,193
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
6.65%
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%
$963,860
$963.9K
Cap Rate 7%
$688,471
$688.5K
Cap Rate 9%
$535,478
$535.5K
Market Conditions
NOI Build-Up for 2,556 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
$76.7K $30.00/SF
− Vacancy
−$12.4K −$4.86/SF
EGI
$64.3K $25.14/SF
− OpEx
−$16.1K −$6.29/SF
NOI
$48.2K $18.86/SF
Area
Monroe County, FL
Vacancy
16.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$963,860
Cap Rate 7%
$688,471
Cap Rate 9%
$535,478
Alternative Uses
Best Use
Office B
$688.5K
$602.4K – $803.2K
NOI $48,193 @ 7.0% cap · market cap 6.65%
Second Best
Healthcare Medical
$495.8K
$433.8K – $578.4K
NOI $34,705 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.03M
$899.6K – $1.20M
NOI $71,969 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
581
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three contiguous office units offer flexible medical or professional office configurations within a prominent highway retail corridor.
Where is this office units located?
The property is located at 5701 Overseas Hwy 10 Marathon, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3 contiguous professional office units (8, 9 & 10) totaling 2,556 SF in The First Professional Centre; Units 8 and 9 are currently configured as a combined medical office suite (852 SF each); Unit 10 is a separate medical office (852 SF) with interior access to Units 8 & 9 for flexible use
