Office Unit with Highway
For Sale
$395,000
5701 Overseas Highway, Marathon, FL 33050
Professional office unit with multiple private offices, a reception area, kitchen, half bath, and central air.
Property Size1,128 SF
Price / SF$350.18
Days on Market193
Property Features for 5701 Overseas Highway
General Information
Standard status
Active
Size
1,128 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,644
Amenities
Central Air
3
Parking.
Comm Area, Guest Parking, Off Street.
X, 0
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
Coldwell Banker Schmitt Real Estate Co.
(305) 766-1745
Listed By:
Amy Puto · License #3012615
(305) 766-1745
Source:
Xome
Added: Feb 19
Changed: Aug 31
Last Checked: Aug 31 at 1:21PM
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 Coldwell Banker Schmitt Real Estate Co.
Investment Insights
Based on property information with market context.
Unit 1 is a 1,128 SF office condominium within a 17-unit professional complex. The layout includes a reception area with built-in desk, three private offices, a kitchen area, and a half bath. Windows throughout the space provide natural light, while central air supports year-round comfort. On-site parking includes common-area, guest, and off-street spaces.
The unit is positioned directly along Overseas Highway in Marathon, providing frontage exposure for occupants. It is currently occupied and scheduled for vacant delivery as of July 1st. The building was constructed in 1979.
The unit is positioned directly along Overseas Highway in Marathon, providing frontage exposure for occupants. It is currently occupied and scheduled for vacant delivery as of July 1st. The building was constructed in 1979.
Key Highlights
- 1,128 SF office unit in a 17‑unit professional complex
- Direct Overseas Highway frontage in Marathon
- Three private offices plus reception area with built‑in desk
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
$21,268
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
5.38%
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%
$425,360
$425.4K
Cap Rate 7%
$303,829
$303.8K
Cap Rate 9%
$236,311
$236.3K
Market Conditions
NOI Build-Up for 1,128 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
$33.8K $30.00/SF
− Vacancy
−$5.5K −$4.86/SF
EGI
$28.4K $25.14/SF
− OpEx
−$7.1K −$6.29/SF
NOI
$21.3K $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%
$425,360
Cap Rate 7%
$303,829
Cap Rate 9%
$236,311
Alternative Uses
Best Use
Office B
$303.8K
$265.9K – $354.5K
NOI $21,268 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$453.7K
$397.0K – $529.4K
NOI $31,761 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road 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 - Professional office unit with multiple private offices, a reception area, kitchen, half bath, and central air.
Where is this office units located?
The property is located at 5701 Overseas Highway Marathon, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,128 SF office unit in a 17‑unit professional complex; Direct Overseas Highway frontage in Marathon; Three private offices plus reception area with built‑in desk
