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81984 Overseas Hwy 9,990 SF Retail Building Islamorada, FL 33036 $4,750,000 ($475.48/SF) 6.08% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term lease in place with national retailer
- Excellent highway visibility on US Highway 1
- CBS construction
- New construction
- Zoned Village Center
EXECUTIVE SUMMARY
Exceptional Islamorada commercial investment opportunity.
Established national retailer, West Marine, occupies the property under a long-term NN lease with renewal options, delivering a consistent and reliable 7.57% 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.
Established national retailer, West Marine, occupies the property under a long-term NN lease with renewal options, delivering a consistent and reliable 7.57% 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.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,990 SF
Building Class
B
Year Built
2018
Price
$4,750,000
Price Per SF
$475.48
Cap Rate
6.08%
NOI
$288,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
0.69 AC
Zoning
VC - The VC district is intended to recognize and reinforce the vitality of mixed-use “core” business center. See Islamorada Village of Islands Code.
Frontage
152’ on Overseas Hwy
AMENITIES
- Pylon Sign
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00399710-000000 | Improvements Assessment | $1,893,559 |
| Land Assessment | $1,616,670 | Total Assessment | $3,510,229 |
PROPERTY TAXES
Parcel Number
00399710-000000
Land Assessment
$1,616,670
Improvements Assessment
$1,893,559
Total Assessment
$3,510,229
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81984 Overseas Hwy
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