Highway-Frontage Office
For Sale
$899,000
98251 Overseas Highway, Key Largo, FL 33037
Flexible commercial layout with multiple entrances, reception space, private rooms, and two bathrooms.
Property Size2,188 SF
Lot Size0.64 Acres
Price / SF$410.88
Days on Market48
Property Features for 98251 Overseas Highway
General Information
Standard status
Active
Size
2,188 SF
Lot size
0.64 Acres
Zoning
SR - Sub Urban Residential District
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,989
Building Details
Building Size
2,188 SF
Year Built
1997
Buildings
1
Stories
1
Listing Agency:
American Caribbean Real Estate, Christie's International Real Estate
Listed By:
Angel DiGiorgio · License #3418079
(305) 509-0971
Source:
Laerrealty
Added: Sep 2
Changed: Oct 7
Last Checked: Oct 16 at 6:23AM
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 American Caribbean Real Estate, Christie's International Real Estate
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Investment Insights
Based on property information with market context.
Built in 1997, this 2,188-square-foot office building occupies a 27,790-square-foot lot at 98251 Overseas Highway in Key Largo. The interior includes a front reception or waiting area, four rooms, two bathrooms, and four separate exterior entrances, supporting a range of professional office or medical office configurations.
The property provides 130 feet of frontage along Overseas Highway and includes parking areas with shaded outdoor sections. Access is also supported by an established easement from Coco Plum Road, adding another point of entry to the site. The combination of highway exposure, flexible interior divisions, and multiple exterior entrances creates a practical setup for an owner-user or other commercial occupancy.
The property provides 130 feet of frontage along Overseas Highway and includes parking areas with shaded outdoor sections. Access is also supported by an established easement from Coco Plum Road, adding another point of entry to the site. The combination of highway exposure, flexible interior divisions, and multiple exterior entrances creates a practical setup for an owner-user or other commercial occupancy.
Key Highlights
- 2,188‑square‑foot office building constructed in 1997
- 27,790‑square‑foot lot with parking areas and shaded sections
- 130 feet of frontage along Overseas Highway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,255
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$825,100
$825.1K
Cap Rate 7%
$589,357
$589.4K
Cap Rate 9%
$458,389
$458.4K
Market Conditions
NOI Build-Up for 2,188 SF
Gross rent
$65.6K $30.00/SF
− Vacancy
−$10.6K −$4.86/SF
EGI
$55.0K $25.14/SF
− OpEx
−$13.8K −$6.29/SF
NOI
$41.3K $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 Rate 5%
$825,100
Cap Rate 7%
$589,357
Cap Rate 9%
$458,389
Alternative Uses
Best Use
Office B
$589.4K
$515.7K – $687.6K
NOI $41,255 @ 7.0% cap · market cap 4.59%
Second Best
Healthcare Medical
$424.4K
$371.4K – $495.1K
NOI $29,708 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$880.1K
$770.1K – $1.03M
NOI $61,607 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 33037, FL
13,875
Population
10,494
Households
1.3
Avg Household Size
53
Median Age
41%
College-Educated
95%
High-School Grad
32.9 sq mi
ZIP Area
422
Density / Sq Mi
$80,911
Median Household Income
$40,641
Median Earnings
$1,896
Median Rent
$660,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial layout with multiple entrances, reception space, private rooms, and two bathrooms.
Where is this office units located?
The property is located at 98251 Overseas Highway Key Largo, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,188‑square‑foot office building constructed in 1997; 27,790‑square‑foot lot with parking areas and shaded sections; 130 feet of frontage along Overseas Highway
