82705 Overseas Hwy Islamorada, FL 33036
- Retail space
- 6,232 SF
- 1.01 lot acres
Current Use by Public Records
- Retail space
Property Details for 82705 Overseas Hwy
- Year built
- 1960
- Lot size
- 1.01 lot acres
- Property size
- 6,232 SF
- Property type
- Retail space
- APN
- 00403860-000000
- APU
- 403860000000
Description
This exceptional Islamorada commercial property presents a lucrative investment opportunity with a 7.7% cap rate at the asking price of $6,500,000. Strategically located in the heart of Islamorada, this property boasts 264 feet of frontage on Overseas Highway and an additional 277 feet on the Old Highway, ensuring high visibility and accessibility. The complex comprises three distinct buildings totaling 9,124 square feet of gross building area. Building 1 is a thriving retail hardware store. Building 2 combines a boat sales and service office with two income-generating, one-bedroom, one-bathroom apartments on the second floor. Building 3 provides valuable storage shed and workshop space. All buildings are currently 100% occupied under long-term, true NNN leases, minimizing landlord responsibilities and maximizing return on investment. Significant renovations and additions were completed in 2021 and 2023, ensuring the property is in excellent condition. Ample parking is available, complemented by extensive open-air boat storage, catering to the local maritime community. This turnkey operation offers a rare chance to acquire a high-performing commercial asset in a prime Islamorada location. The combination of strong tenant occupancy, favorable lease terms, and recent improvements makes this a compelling investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Islamorada
- County
- Monroe
- State
- Florida
- Longitude
- -80.6249
- Latitude
- 24.9266
- CBSA code
- 28580
- CBSA name
- KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA
