82705 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036
$5,875,000
Property Type:
Commercial Sale
Bedrooms:
2
Baths:
5
Lot Size (sq. ft.):
44,107
Status:
Closed
Current Price:
$5,875,000
List Date:
9/09/2024
Last Modified:
5/30/2025
Description
7.7% Cap Rate at asking price! Prime income producing commercial property in the Heart of Islamorada! 100% tenant occupied with long term, TRUE NNN leases. 264 feet of frontage on Overseas Highway & 277 feet on the Old Hwy. Property offers 3 separate buildings. Building 1- Hardware store - retail use. Building 2- Boat Sales and service office with (2) 1 Bed / 1 Bathroom apartments on second floor. Building 3- Storage shed and workshop Total Gross Building Area: 9,124 Total Renovation and addition made in 2021, 2023. This property features ample parking with extensive open air boat storage.
More Information MLS# 611398
Contract Information
Listing Board: Florida Keys
Limited Representation: No
Potential Short Sale: No
Bank Owned: No
For Sale/Lease: For Sale
Current Price: $5,875,000
Listing Date: 2024-09-09
Sold Price: $5,875,000
Location, Tax & Legal
City: ISLAMORADA
Off Shore Island: No
Mile Marker: 82.5
Marathon Neighborhood: N/A
Side: Median
Flood Zone: AE,AE,0.2 PCT ANNUAL
Alternate Key #: 1496171
Parcel #: 00403860-000000
Zoning: VC - Village Center
Legal: BK 2 LT 17 OCEAN VIEW PB1-193 AND NELY 20 FT LOT 13 SQR 11 UPPER MATECUMBE AND BK 11 LOTS 14-15 STRATTONS SUBD PB2-38 G
Taxes: 20176.82
Tax Year: 2024
Street #: 82705
Street Name: Overseas
Street Suffix: Highway
Key/Island: Upper Matecumbe Key Islamorada
State/Province: FL
Zip Code: 33036
Subdivision: Ocean View (82.5)
County: Monroe
Area: 23 - Upper Matecumbe
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 264 x 150 x 277 x 167
Lot SqFt: 44107
Total Units: 0
# Stories: 2
Total # Buildings: 3
Building SqFt: 9064
Style: Commercial
Year Built: 1960
Total Bedrooms: 2
Full Baths: 2
Half Baths: 3
Total Baths: 5
Remarks & Misc
Remarks – Consumer: 7.7% Cap Rate at asking price! Prime income producing commercial property in the Heart of Islamorada! 100% tenant occupied with long term, TRUE NNN leases. 264 feet of frontage on Overseas Highway & 277 feet on the Old Hwy. Property offers 3 separate buildings. Building 1- Hardware store - retail use. Building 2- Boat Sales and service office with (2) 1 Bed / 1 Bathroom apartments on second floor. Building 3- Storage shed and workshop Total Gross Building Area: 9,124 Total Renovation and addition made in 2021, 2023. This property features ample parking with extensive open air boat storage.
Directions: Overseas Hwy MM 82
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Boat Sales/Service: 1
Office Buildings: 1
Retail: 1
Other Services: 1
Fee Includes
Other: 1
Dockage
None: 1
Appliances
Range: 1
Refrigerator: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Tile: 1
Windows/Doors
Impact Rstnce Doors: 1
Impact Rstnce Window: 1
Vehicle Storage
Off Street Parking: 1
Trailer Storage: 1
Construction
CBS: 1
Land Size
1 Less Than 2 Acres: 1
Utilities
FKAA: 1
Miscellaneous
Residence on Premise: 1
Roof
Metal Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Tenant Paid
Cable: 1
Electric: 1
Garbage: 1
Insurance: 1
Sewer: 1
Taxes: 1
Water: 1
Status Change Info
Sold Date: 2025-05-30
Sold Price: $5,875,000
Status: Closed
Property Features
Type: Boat Sales/Service; Office Buildings; Retail; Other Services
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Off Street Parking; Trailer Storage
Utilities: FKAA
Appliances: Range; Refrigerator
Miscellaneous: Residence on Premise
Construction: CBS
Floor: Tile
Roof: Metal Roof
Land Size: 1 Less Than 2 Acres
Fee Includes: Other
Tenant Paid: Cable; Electric; Garbage; Insurance; Sewer; Taxes; Water
Listing Office:
RE/MAX All Keys Real Estate
Last Updated: May - 30 - 2025
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.