91865 Overseas HwyTavernier, FL 33070

This exceptional mixed-use property, located at 91865 Overseas Hwy, Tavernier, FL 33070, presents a compelling investment opportunity. The 21,140 square foot building, constructed in 1936 and completely renovated in 2024, boasts 15 units: 10 residential apartments and 5 commercial spaces. All units are currently 100% occupied, generating a current NOI of $480,000 and a pro-forma NOI of $550,000, representing a 6.34% cap rate and a pro-forma cap rate of 7.41%. The asking price is $6,490,000, translating to a price per square foot of $307. The property features 30 parking spaces and benefits from a gross lease structure with credit-rated tenants. Recent renovations include new metal roofs, impact windows and doors, new pavers, updated plumbing and electrical systems, fresh stucco and paint. The residential units are fully furnished and equipped with new air conditioning units and updated interiors. The commercial spaces are leased to long-term tenants. Seller financing is negotiable. This turnkey investment offers substantial revenue potential and a prime location on the Overseas Highway between Plantation Key and Key Largo. The property's meticulous renovation and strong tenant base ensure a stable and high-return investment.