81984 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036 (MLS# 617385)

81984 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036

$4,400,000

Virtual Tour

https://tours.keyspropertyvisuals.com/cvtnb/360661

Property Type: Commercial Sale Baths: 2 Square Footage: 9,990 Lot Size (sq. ft.): 30,000 Status: Closed

Current Price: $4,400,000 List Date: 11/20/2025 Last Modified: 1/21/2026

Overview

Description

Exceptional Islamorada commercial investment opportunity. Established national retailer, West Marine, occupies the property under a long-term lease with renewal options, delivering a consistent and reliable 6.08% cap rate. The 9,990 SF building, constructed in 2018, is situated on a 30,000 SF parcel with US-1 frontage in the heart of downtown Islamorada. Site features include 32 on-site parking spaces, Village Center zoning, and excellent highway visibility. This is a rare opportunity to acquire a stable, income producing investment property in one of the most constrained commercial markets in the Florida Keys.

Listing Details MLS# 617385

Location, Tax & Legal

Street #: 81984
Street Name: Overseas
Street Suffix: Highway
Key/Island: Upper Matecumbe Key Islamorada
State/Province: FL
Zip Code: 33036
Subdivision: Strattons (82.5)
County: Monroe
Area: 23 - Upper Matecumbe

Contract Information

Listing Board: Florida Keys
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 30000
Waterfront: No
Business Name: West Marine Building
# Parking Spaces: 32
Building Ht. Ft.: 25
Total # Buildings: Yes
Building SqFt: 9990
SqFt Source: Property Data Card
Living Apx SqFt: 9990
Year Built: 2018
Full Baths: 2
Total Baths: 2

Status Change Info

Under Contract Date: 2026-01-16
Leased Date: 2026-01-21

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No

Appliances

Other: Retail Space

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

Property Features

Type: Franchise; Franchise; Grocery/Convenience; Professional Service; Restaurant Waterfront: None Waterview: No Waterview Dockage: None Cooling: Central Air Heating: Central Utilities: Municipal Sewer Miscellaneous: High Traffc Location; High Visibility; Highway Frontage; Loading Dock Construction: CBS; Concrete Floor: Concrete Land Size: 1/2 - Less Than 1 AC Fee Includes: Other

Listing Office: Coldwell Banker Schmitt Islamorada

Last Updated: January - 21 - 2026

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.