81984 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036

$4,750,000
Property Type: Commercial Sale Baths: 2 Square Footage: 9,990 Lot Size (sq. ft.): 30,000 Status: Contingent/Show
Current Price: $4,750,000 List Date: 11/20/2025 Last Modified: 12/09/2025

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.

More Information MLS# 617385

Contract Information

Listing Board: Florida Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Current Price: $4,750,000 Listing Date: 2025-11-19 List Price: $4,750,000

Location, Tax & Legal

City: ISLAMORADA Off Shore Island: No Mile Marker: 82.5 Marathon Neighborhood: N/A Side: Bay/Gulf Flood Zone: AE,AE Alternate Key #: 1492001 Parcel #: 00399710-000000 Zoning: VC - Village Center Legal: BK 5 LTS 20 AND 21 STRATTONS SUBD PB 2-38 UPPER MATECUMBE G24-94 G45-384 OR439-448 OR508-932 OR853-1097 OR888-1517 OR100 Taxes: 28416.37 Tax Year: 2024 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

General Property Description

Realtor.COM Type: Commercial Waterfront: No Control Depth: 0 Lot Size: 200x150 Lot SqFt: 30000 Business Name: West Marine Building Total Units: 0 # Parking Spaces: 32 Building Ht. Ft.: 25 SqFt Source: Property Data Card Total # Buildings: 1 Building SqFt: 9990 Style: Commercial Living Apx SqFt: 9990 Year Built: 2018 Full Baths: 2 Total Baths: 2

Remarks & Misc

Remarks – Consumer: 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.

Association Info

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

Type

Franchise: 1 Grocery/Convenience: 1 Professional Service: 1 Restaurant: 1

Fee Includes

Other: 1

Dockage

None: 1

Appliances

Other: Retail Space

Cooling

Central Air: 1

Heating

Central: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Concrete: 1

Construction

CBS: 1 Concrete: 1

Land Size

1/2 - Less Than 1 AC: 1

Utilities

Municipal Sewer: 1

Miscellaneous

High Traffc Location: 1 High Visibility: 1 Highway Frontage: 1 Loading Dock: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Contingent: Contingent/Show Status: Contingent/Show

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: December - 09 - 2025
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