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    Property profile & analytics

    11187 Overseas Hwy Marathon, FL 33050

    • Office buildings
    • 2,098 SF
    • 0.17 lot acres
    For Sale
    View listing
    $875
    Last Sale
    Jan 25, 2021
    $500,000
    Value Estimations
    Cap Rate Potential
    8.3%
    Office buildings
    Location Intelligence
    Property ID
    US18-5277623
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Derrick Johnson, PA, Realtor® /Coco Plum Real Estate / Real Estate Agency
    • Coco Plum Real Estate Village at Hawks Cay Sales / Real Estate Agency
    • Coco Plum Vacation Rentals / Vacation Home Rental Agency / Property Management Company
    • Pet Wellness Center / Veterinarian
    • Book The Keys / Travel Agency

    Property Details for 11187 Overseas Hwy

    Year built
    1987
    Lot size
    0.17 lot acres
    Property size
    2,098 SF
    Property type
    Office buildings
    APN
    00345250-000000
    APU
    345250000000

    Description

    This exceptional commercial property, located at 11187 Overseas Highway Unit 1 in Marathon, Florida, offers a variety of professional office spaces for lease within a modern, upscale building. Currently available are several office suites, including two identical units measuring 5.5 feet by 11.5 feet, each priced at $875 per month. Beyond these, additional smaller and larger office spaces are also available, offering flexibility to suit diverse business needs. The building boasts a convenient shared kitchenette, two well-equipped conference rooms perfect for meetings and presentations, and ample parking for tenants and clients. High visibility is ensured by the property's strategic location directly across from a new Circle K, with signage opportunities available to enhance your business presence. All utilities are included in the monthly lease rate, simplifying budgeting and administration. The building's existing tenants include professionals in real estate and vacation rental management, creating a collaborative and supportive business environment. This is an excellent opportunity to establish or expand your business in a prime Marathon location. Contact us today to schedule a viewing and secure your ideal office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $510,000
      ML approach
      $560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $705,000
      6.5%
      $650,000
      7%
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $526,000
      Market price range: $213k - $703k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marathon
    County
    Monroe
    State
    Florida
    Longitude
    -81.0354
    Latitude
    24.7288
    CBSA code
    28580
    CBSA name
    KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,642
    $307,125
    $194,089
    $501,214
    -
    $307,125
    $194,089
    $501,214

    Comparable in this City

    • Value Estimation
      $1,390,000
      4,820 SF

      9141 Overseas Hwy

      OFFICE BUILDING • 4,820 SF
      9141 Overseas Hwy, Marathon, FL 33050-3247
      View Details
    • Value Estimation
      $2,850,000
      10,288 SF

      10095 Overseas Hwy

      OFFICE BUILDING • 10,288 SF
      10095 Overseas Hwy, Marathon, FL 33050-3336
      View Details
    • Value Estimation
      $1,120,000
      4,383 SF

      6400 Overseas Hwy

      PROFESSIONAL BUILDING • 4,383 SF
      6400 Overseas Hwy, Marathon, FL 33050-2786
      View Details
    • Value Estimation
      $905,000
      3,886 SF

      13361 Overseas Hwy

      OFFICE BUILDING • 3,886 SF
      13361 Overseas Hwy, Marathon, FL 33050-3550
      View Details
    • Value Estimation by Request
      852 SF

      5701 Overseas Hwy Ste, Unit 11

      PROFESSIONAL BUILDING • 852 SF
      5701 Overseas Hwy Ste, Marathon, FL 33050-2784
      View Details
    • Value Estimation by Request
      947 SF

      5701 Overseas Hwy Ste, Unit 7

      PROFESSIONAL BUILDING • 947 SF
      5701 Overseas Hwy Ste, Marathon, FL 33050-2784
      View Details

    Similar Nearby for Sale

    • $1,999,999

      Corner Commercial Building with Drive-Through

      Oversized CBS building with drive-through, suitable for office or retail.
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    • $1,100,000
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      Improved Medical Suite For Sale

      Well-maintained 4,139 SF medical suite in Marathon, Florida.
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      View Details
    • Contact for pricing
      0.56 Acres

      Marathon Commercial Land

      Prime Commercial Land, Marathon, FL
      5994 Overseas Hwy, Marathon, FL 33050
      View Details
    • $700,000

      Marathon Commercial Highway Frontage

      High-traffic location, versatile commercial lot.
      12350 Overseas Hwy, Marathon, FL 33050
      View Details
    • $2,200,000

      Waterfront Land in Stirrup Key

      Spacious Gulfside lot in gated Marathon community with boat basins.
      Windy Point Cir, Marathon, FL 33050
      View Details
    • $2,150,000

      Duck Key Canal Frontage Lot

      7,500 sq ft residential lot with yacht access.
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    Similar Nearby for Lease

    • $7 SF/Yr
      14,000 SF

      Key Vaca Center: Marathon Office Space

      14,000 SF Office Building, Multiple Suites Available
      10045 Overseas Hwy, Marathon, FL 33050
      View Details
    • $14,000 /Mo

      Luxury Waterfront Home in Marathon

      New luxury home with direct ocean access in Marathon, FL.
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      View Details
    • $1.31 SF/Yr
      22,069 SF

      Marathon Retail Space - Hwy 1 Overseas

      Prime Marathon location, 22,069 sq ft retail space
      11400 Overseas Hwy, Marathon, FL 33050
      View Details
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    Marathon, FL 33050
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    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
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