Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    76800 Overseas Hwy Hwy Islamorada, FL 33036
    Back to Search
    Property profile & analytics

    76800 Overseas Hwy Hwy, Islamorada, FL 33036

    View on Map
    • Commercial real estate
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 76800 Overseas Hwy Hwy

    Year built
    1994
    Property type
    Commercial real estate

    Description

    This exceptional 3.2-acre property in Islamorada, Florida, presents a unique investment opportunity. Currently zoned as native residential, this land holds significant potential for commercial development. The property's previous commercial designation was inadvertently altered by the Village of Islamorada without owner notification. Legal counsel is actively working to restore the property's commercial zoning. The land comprises approximately 3.2 acres, with one acre consisting of mature hardwood trees, rendering it unsuitable for construction. The remaining two acres have been prepared, previously serving as tennis courts and supporting a clubhouse structure. The clubhouse, while needing potential renovation or demolition, provides a pre-existing structure on-site. This property's prime location in Islamorada offers high visibility and accessibility, making it an attractive prospect for a variety of commercial ventures once the zoning issue is resolved. The asking price reflects the current zoning status and the ongoing legal efforts to secure commercial designation. Investors seeking a potentially lucrative project with a clear path to commercial redevelopment should consider this exceptional opportunity. The property's history and current state provide a solid foundation for a future commercial development, once the zoning is corrected. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.6331
    Latitude
    24.9226

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      Islamorada, FL 33036

      COMMERCIAL (GENERAL)
      Islamorada, FL 33036
      View Details
    • Value Estimation by Request
      0.42 Acres

      81213 Overseas Hwy

      COMMERCIAL (GENERAL)
      81213 Overseas Hwy, Islamorada, FL 33036
      View Details
    • Value Estimation by Request
      0.17 Acres

      Islamorada, FL 33036

      COMMERCIAL (GENERAL)
      Islamorada, FL 33036
      View Details
    • Value Estimation by Request

      76800 Overseas Hwy Hwy

      Distribution properties
      76800 Overseas Hwy Hwy, Islamorada, FL 33036
      View Details
    • Value Estimation by Request
      0.34 Acres

      110 Porto Salvo Dr

      COMMERCIAL (GENERAL)
      110 Porto Salvo Dr, Islamorada, FL 33036-3319
      View Details
    • Value Estimation
      $14,060,000
      99,381 SF

      Islamorada, FL 33036

      COMMERCIAL (GENERAL)
      Islamorada, FL 33036
      View Details

    Similar Nearby for Sale

    • $6,995,000

      Islamorada Bayfront Commercial Gem

      Prime Islamorada location, multiple development options.
      Islamorada, FL 33036
      View Details
    • $4,500,000

      Islamorada Commercial Development Opportunity

      Prime Islamorada location, high potential.
      80939 Overseas Hwy, Islamorada, FL 33036
      View Details
    • Contact for pricing
      1,069 SF

      Treasure Harbor Marina Business Opportunity

      Marina business for sale in Plantation Key, Florida.
      200 Treasure Harbor Dr, Plantation Key, FL 33036
      View Details
    • $925,000

      Land For Sale Islamorada

      Land available in Islamorada, Florida.
      149 Iroquois Dr, Islamorada, FL 33036
      View Details
    • $3,900,000

      Waterfront Commercial Asset with Redevelopment Potential

      Waterfront commercial property with redevelopment and multiple revenue paths.
      74560 Overseas Hwy, Islamorada, FL 33036
      View Details
    • $1,195,000
      2,244 SF

      Mixed-Use Commercial Building in Plantation Key

      Two-story mixed-use building with highway frontage and income potential.
      88101 Old Hwy, Plantation Key, FL 33036
      View Details

    Similar Nearby for Lease

    • $600 /Mo
      163 SF

      Islamorada Office Spaces For Rent

      Charming office spaces available in Islamorada, Florida.
      88101 Old Hwy, Plantation Key, FL 33036
      View Details
    • $14,166 /Mo
      10,000 SF

      Islamorada Warehouse-Style Flexible Space

      10,000 SF open space with loading doors in Islamorada.
      210 Industrial Dr Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    • $14,166 /Mo

      Islamorada Warehouse-Style Space Available

      Open warehouse space with flexible layout in central Islamorada.
      210 Industrial Dr, Islamorada, FL 33036
      View Details
    • $1,200 /Mo

      Islamorada Outdoor Commercial Space Available

      Prime outdoor commercial space for lease in Islamorada, Florida.
      86701 Overseas Hwy Upper Matecumbe Ky, Islamorada, FL 33036
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    76800 Overseas Hwy Hwy
    Islamorada, FL 33036
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    76800 Overseas Hwy Hwy, Islamorada, FL, 33036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!