102481 Overseas HwyKey Largo, FL 33037

Property Details for 102481 Overseas Hwy

Year built

1977

Lot size

0.31 AC

Property size (Sq ft)

2,400 SF

Property type

Office properties

Property subtype

Office buildings

APN

00543160-000000

APU

543160000000

Description

This exceptional investment opportunity in Key Largo, Florida, presents a lucrative mixed-use property encompassing four parcels totaling $4,000,000. The property boasts two buildings constructed in 1964, each spanning two stories. One building is currently leased to an insurance company, generating a monthly income of $11,000 with a 3% annual escalation clause effective October 1, 2018. A separate boat rental and detailing business occupies another parcel, contributing $5,000 in monthly rent, also subject to a 3% annual escalation since April 2021. Adding to the income stream is a single-family residence (3 bedrooms, 3 bathrooms) at 645 Ponce De Leon, currently leased for $3,000 per month on a one-year lease with a one-year option. The property's address is 102481 Overseas Hwy, Key Largo, FL 33037, situated in Monroe County. Two additional vacant lots are included in this sale, offering potential for future development or expansion of existing businesses. The property's strong rental history and diverse income streams make it an attractive investment prospect. Please note that all tenants must not be disturbed without prior approval. This comprehensive offering presents a rare chance to acquire a well-established, high-yielding commercial property in a desirable Florida Keys location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,774,756

  6.5%

  $1,638,236

  7%

  $1,521,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $800,828

  Geo Method

  $800,828

• Alternative Use

  Use

  Valuation

  Residential

  $2,031,413

  Hospitality

  $1,860,764

  Educational

  $1,548,133

  Medical

  $1,601,376

  Retail

  $2,408,208

Location Insight

City

Key Largo

County

Monroe

State

Florida

Latitude

25.1254

Longitude

-80.4119

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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