Tavernier Business Center For
For Sale
$1,469,000
Pending
91760 Overseas Hwy, Tavernier, FL 33070
Commercial property with US-1 frontage in Tavernier's business district.
Property Size2,562 SF
Lot Size0.16 Acres
Days on Market267
Property Features for 91760 Overseas Hwy
General Information
Standard status
Pending
Size
2,562 SF
Lot size
0.16 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,646
Building Details
Building Size
2,562 SF
Year Built
1987
Listing Agency:
Coldwell Banker Commercial Schmitt Real Estate Company Key Largo
(786) 236-8158
Listed By:
Yvette Doherty · License #3281170
(786) 236-8158
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Jul 23 at 10:22AM
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 Commercial Schmitt Real Estate Company Key Largo
Investment Insights
Based on property information with market context.
The Tavernier Business Center is strategically located in the center of Tavernier's business district, offering US-1 visibility and street-to-street access from Tavernier Street to the Overseas Highway (US-1). This high-traffic location is just minutes from Mariners Hospital, making it ideal for medical, dental, or professional office use. The ground floor is perfect for seeing patients, and the second floor is suited for administrative offices. Located in a no-flood X zone, the property has been upgraded with impact-resistant windows and doors. This property operates as a 'We Share Office' model, offering short-term, flexible rentals, an income-producing asset with minimal vacancy risk and future growth potential.
Key Highlights
- Prime US‑1 Frontage in Tavernier's Business District: High visibility and accessibility.
- Street‑to‑Street Access: Convenient access from both Tavernier Street and US‑1.
- Ideal for Medical/Professional Office: Close proximity to Mariners Hospital.
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
$48,307
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
3.29%
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%
$966,140
$966.1K
Cap Rate 7%
$690,100
$690.1K
Cap Rate 9%
$536,744
$536.7K
Market Conditions
NOI Build-Up for 2,562 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
$76.9K $30.00/SF
− Vacancy
−$12.5K −$4.86/SF
EGI
$64.4K $25.14/SF
− OpEx
−$16.1K −$6.29/SF
NOI
$48.3K $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%
$966,140
Cap Rate 7%
$690,100
Cap Rate 9%
$536,744
Alternative Uses
Best Use
Office B
$690.1K
$603.8K – $805.1K
NOI $48,307 @ 7.0% cap · market cap 3.29%
Second Best
Healthcare Medical
$496.9K
$434.8K – $579.8K
NOI $34,786 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$1.03M
$901.7K – $1.20M
NOI $72,138 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Commercial property with US-1 frontage in Tavernier's business district.
Where is this office units located?
The property is located at 91760 Overseas Hwy Tavernier, FL.
What is the asking price?
The asking price for this property is $1,469,000.
What are key features of this property?
This property features: Prime US‑1 Frontage in Tavernier's Business District: High visibility and accessibility.; Street‑to‑Street Access: Convenient access from both Tavernier Street and US‑1.; Ideal for Medical/Professional Office: Close proximity to Mariners Hospital.
