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Iconic Restaurant Property For Sale

81901 Overseas Hwy Islamorada, FL 33036

81901 Overseas Hwy, Islamorada, FL, 33036
$2,200,000
For Sale
$2,200,000

Iconic restaurant property with high visibility and flexible commercial zoning.

Property Size4,942 SF
Lot Size0.38 Acres
Price / SF$445.16
AddedFeb 17
Days on Market149
Last RefreshApr 8 at 2:26 pm

Property Features for 81901 Overseas Hwy

General Information

Standard status
Active
Property type
Conventional restaurants, Restaurants
Size
4,942 SF
Class
A
Elevators
No
Lot size
0.38 Acres

Building Details

Year Built
1947
Buildings
1
Stories
1

Listing agent Greg License #SL3420625

Listing office RE/MAX All Keys Real Estate

Listing date Feb 17, 2026


Investment Insights

Based on property information with market context.

Located at 81901 Overseas Hwy, Islamorada, FL, this property offers a retail/hospitality opportunity with restaurant use. The building, constructed in 1947, has a total area of 4,942 square feet and is situated on a lot of approximately 16,746 square feet. The property is zoned Village Center (VC), allowing for flexible commercial uses. It features ample on-site parking in the front, side, and rear. The property has frontage on Overseas Highway (US-1), providing strong traffic exposure. Its corner lot location at Overseas Hwy & Blackwood Drive ensures high visibility. It is within walking distance of local resorts, shops, and the Morada Way Art District. The current restaurant layout includes seating for approximately 160 seats. The Village Center zoning allows for a range of commercial uses beyond restaurant operations, with potential for retail, office, other hospitality, or redevelopment, subject to local approvals. The property is currently home to the Islamorada Shrimp Shack.

Key Highlights

  • 📍 Property Overview
  • Address: 81901 Overseas Hwy, Islamorada, FL 33036, Monroe County
  • Property Type: Retail / Hospitality – Restaurant use (single tenant)

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $106.7k $21.60
− Vacancy −$4.8k −$0.97
EGI $101.9k $20.63
− OpEx −$25.5k −$5.16
NOI $76.5k $15.47
4,942 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%

Alternative Uses

Best Use
Specialty Retail
$1.09M
$955.7K – $1.27M (±1% cap)
NOI $76,458 @ 7.0% cap · market cap 3.48%
Second Best
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M (±1% cap)
NOI $139,151 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

HVAC Service Auto Parts Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Auto Repair Shop Hair Salon Dental Office

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

FAQs

What type of property is this?
Conventional restaurant - Iconic restaurant property with high visibility and flexible commercial zoning.
Where is this conventional restaurant located?
The property is located at 81901 Overseas Hwy Islamorada, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 📍 Property Overview; Address: 81901 Overseas Hwy, Islamorada, FL 33036, Monroe County; Property Type: Retail / Hospitality – Restaurant use (single tenant)
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