Remodeled Storefront
For Sale
$1,215,000
Pending
91625 Overseas Highway, Key Largo, FL 33070
Commercial Sale, Key Largo, FL
Property Size2,540 SF
Lot Size0.32 Acres
Days on Market1178
Property Features for 91625 Overseas Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
SC - Sub Urban Commercial
Bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Appliances
No Appliances
Subdivision
Singletons Add Tavernier Cove (92.0)
View
Water
Directions
Tavernier MM 91.6 oceanside corner of N Sunrise DR. Sign on property.
Standard status
Pending
APN
00506520-000000
Size
2,540 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
LOTS 1-4 SINGLETONS ADD TAVERNIER COVE PB1-135 OR418-601 OR725-551 OR775-359 OR890-1734 OR890-1741 OR1371-2324 OR2971-01
Tax Annual Amount
3958
Legal Description
LOTS 1-4 SINGLETONS ADD TAVERNIER COVE PB1-135 OR418-601 OR725-551 OR775-359 OR890-1734 OR890-1741 OR1371-2324 OR2971-01
Utilities
Cooling system
Central Air
Amenities
open floor plan
prewired for cameras and ethernet
Building Details
Year built
1928
Flooring type
Vinyl
Building materials
Frame
Roof type
Metal
Listing Agency:
LoKation Real Estate - Pompano Beach
(954) 545-5583
Listed By:
Vanessa J Chamizo · License #3080308
(954) 545-5583
Added: Jun 2, 2023
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# 605544
Copyright © 2026 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,540-square-foot storefront property features an open floor plan with multiple rooms or offices and two half baths. Recent improvements include impact-resistant windows and doors, two new AC units, vinyl flooring, and fresh interior and exterior paint. The building is also prewired for camera and ethernet systems and has a metal roof with frame construction.
Positioned on a corner lot along Overseas Highway, the property is near restaurants, retail outlets, a hospital, schools, and other local amenities. SC - Sub Urban Commercial zoning supports a range of commercial activities, including retail and professional office uses. The layout can accommodate a single operation or a combination of business spaces, subject to applicable regulations.
Positioned on a corner lot along Overseas Highway, the property is near restaurants, retail outlets, a hospital, schools, and other local amenities. SC - Sub Urban Commercial zoning supports a range of commercial activities, including retail and professional office uses. The layout can accommodate a single operation or a combination of business spaces, subject to applicable regulations.
Key Highlights
- 2,540‑square‑foot commercial storefront building
- SC - Sub Urban Commercial zoning
- Open floor plan with multiple rooms or offices
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
$47,892
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
3.94%
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%
$957,840
$957.8K
Cap Rate 7%
$684,171
$684.2K
Cap Rate 9%
$532,133
$532.1K
Market Conditions
NOI Build-Up for 2,540 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
$76.2K $30.00/SF
− Vacancy
−$12.3K −$4.86/SF
EGI
$63.9K $25.14/SF
− OpEx
−$16.0K −$6.29/SF
NOI
$47.9K $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%
$957,840
Cap Rate 7%
$684,171
Cap Rate 9%
$532,133
Alternative Uses
Best Use
Office B
$684.2K
$598.7K – $798.2K
NOI $47,892 @ 7.0% cap · market cap 3.94%
Second Best
Retail
$492.1K
$430.6K – $574.2K
NOI $34,449 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.02M
$894.0K – $1.19M
NOI $71,518 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33070, FL
6,220
Population
4,366
Households
1.4
Avg Household Size
52
Median Age
35%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
1,481
Density / Sq Mi
$77,228
Median Household Income
$40,511
Median Earnings
$1,866
Median Rent
$695,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with flexible interior space, updated systems, and SC - Sub Urban Commercial zoning along Overseas Highway.
Where is this storefront property located?
The property is located at 91625 Overseas Highway Key Largo, FL.
What is the asking price?
The asking price for this property is $1,215,000.
What are key features of this property?
This property features: 2,540‑square‑foot commercial storefront building; SC - Sub Urban Commercial zoning; Open floor plan with multiple rooms or offices
