Fully Renovated Mixed-Use
For Sale
$5,999,000
91865 Overseas Highway, Key Largo, FL 33070
Renovated mixed-use income property with 10 residential units and 5 established commercial tenants.
Property Size10,150 SF
Days on Market146
Property Features for 91865 Overseas Highway
General Information
Standard status
Active
Size
10,150 SF
Zoning
SC - Sub Urban Commercial District
Financials
Cap Rate
7%
Business Included
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$55,119
Building Details
Building Size
10,150 SF
Year Built
1936
Tenancy
Multi
Listing Agency:
Cornell Commercial Real Estate, Inc.
Listed By:
Kevin Cornell · License #3294811
(305) 619-0458
Source:
Laerrealty
Added: May 30
Changed: Oct 10
Last Checked: Oct 20 at 5:53PM
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 Cornell Commercial Real Estate, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This fully renovated mixed-use property includes 10 residential apartments and 5 established commercial tenants. Commercial tenants listed include a popular pizzeria, a boutique doctor's office, a hair and nail salon, a coffee shop, and additional long-term businesses. Interior and exterior improvements include high-impact windows and doors, updated plumbing and electrical systems, 2023 metal/shingle roofs, new A/C units, tile flooring throughout, zebra shades, and fully furnished all-inclusive residential units.
The property is positioned along the Overseas Highway corridor in Key Largo (south end), supporting a tenant mix designed to serve the Upper Keys community.
Seller financing is available, with up to $3,000,000 in owner financing offered as 4% interest-only payments for up to 3 years, subject to terms and conditions.
The property is positioned along the Overseas Highway corridor in Key Largo (south end), supporting a tenant mix designed to serve the Upper Keys community.
Seller financing is available, with up to $3,000,000 in owner financing offered as 4% interest-only payments for up to 3 years, subject to terms and conditions.
Key Highlights
- Mixed‑use income property built in 1936 with 10 residential apartments plus 5 established commercial tenants
- Tenant mix includes a pizzeria, boutique doctor's office, hair and nail salon, and coffee shop, along with additional long‑term businesses
- Renovations include high‑impact windows and doors, updated plumbing and electrical systems, and tile flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,378
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,827,560
$3.8M
Cap Rate 7%
$2,733,971
$2.7M
Cap Rate 9%
$2,126,422
$2.1M
Market Conditions
NOI Build-Up for 10,150 SF
Gross rent
$304.5K $30.00/SF
− Vacancy
−$49.3K −$4.86/SF
EGI
$255.2K $25.14/SF
− OpEx
−$63.8K −$6.29/SF
NOI
$191.4K $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 Rate 5%
$3,827,560
Cap Rate 7%
$2,733,971
Cap Rate 9%
$2,126,422
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.19M
NOI $191,378 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$2.25M
$1.97M – $2.63M
NOI $157,504 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,792 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
495
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use income property with 10 residential units and 5 established commercial tenants.
Where is this mixed-use property located?
The property is located at 91865 Overseas Highway Key Largo, FL.
What is the asking price?
The asking price for this property is $5,999,000.
What are key features of this property?
This property features: Mixed‑use income property built in 1936 with 10 residential apartments plus 5 established commercial tenants; Tenant mix includes a pizzeria, boutique doctor's office, hair and nail salon, and coffee shop, along with additional long‑term businesses; Renovations include high‑impact windows and doors, updated plumbing and electrical systems, and tile flooring throughout
