Property profile

117 Overseas Hwy Key West, FL 33040

FOR LEASE
Industrial land
Property ID
US18-7738962
2.3 ac lot
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

The Rockland Distribution Center North (RDCN) offers 32,796 square feet of flexible warehouse space in three newly constructed buildings, situated on a 2-acre lot in Rockland Key, just outside Key West, Florida. This Class B property, built in 2024, is ideal for distribution businesses seeking last-mile access to the Lower Keys. The facility features 20 individual suites, ranging from 1,110 to 13,490 contiguous square feet, with 14,000 square feet currently vacant. The buildings boast 19-foot ceiling heights, eight loading docks with eight dock-high doors, twelve drive-in doors, and ample parking for 47 vehicles. Each unit includes a basic bathroom. The property is zoned for light industrial use and offers 120V/208V 3-phase power. Buildings A & B feature a 29-inch loading dock height, a forklift ramp, and eight 12'x14' roll-up doors with electric openers. The buildings were engineered to withstand 180 mph winds. This prime location provides unparalleled access to the Lower Keys market. The property is easily accessible via Conch Circle.

Property profile

Verified
Property type Industrial land
Use group INDUSTRIAL - VACANT LAND
Lot 2.3 ac (100,026 SF)
APN 00122070-000201
UPID US18-7738962

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

117 Overseas Hwy Key West, FL 33040
Key West metro Census 971700 KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.25M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.20M

Owner & transaction history

since 2021
Last sale
$2.2M
5 recorded transactions
2024
Price N/A
2024
Price N/A
2021
$2.2M
2020
$29,800
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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