82705 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036 (MLS# 611398)

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

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