91865 Overseas Hwy 15 Unit Apartment Building $6,495,000 ($433,000/Unit) 7% Cap Rate Tavernier, FL 33070

91865 Overseas Highway presents a rare opportunity to acquire a fully redeveloped, mixed-use investment asset in the heart of the southern Key Largo's historical district, one of the Florida Keys’ most supply-constrained and high-demand commercial corridors. Strategically positioned along highly visible Overseas Highway with 143' of frontage at Mile Marker 91, the property combines stabilized income, luxury renovations, and long-term appreciation potential in a turnkey, hands-free investment.
The property features 10 fully renovated luxury residential apartments and 5 established lifestyle-oriented commercial tenants, including a popular pizzeria, boutique medical office, beauty and wellness operators, coffee service, and additional long-term neighborhood businesses serving both locals and the steady flow of Upper Keys visitors. The curated tenant mix creates a vibrant destination atmosphere while providing diversified and dependable income streams.
Current ownership invested over $1.5M into an extensive 2025–2026 redevelopment program designed to position the asset for long-term institutional-quality ownership with minimal deferred maintenance exposure. Improvements include new metal and shingle roofing systems, impact-rated windows and doors, upgraded plumbing and electrical infrastructure, new HVAC systems, fresh stucco and paint, premium paver hardscaping, exterior lighting, designer interior finishes, tile flooring throughout, zebra shades, and fully furnished all-inclusive residential units.
The property currently produces approximately a 7% return at the asking price based on the existing Profit & Loss Statement, offering investors immediate stabilized cash flow in a market with persistent residential and commercial demand. Seller financing is available with up to $3,000,000 offered at 4% interest-only payments for up to 3 years, creating a compelling leverage opportunity for qualified buyers seeking enhanced cash-on-cash returns.
Additional upside exists through the planned addition of a food truck and entertainment component designed to increase property traffic, strengthen tenant synergy, and introduce a new experiential element to the municipality. With limited commercial inventory, rising replacement costs, and exceptionally high barriers to new development throughout the Upper Keys, 91865 Overseas Highway represents a rare opportunity to secure a modernized, high-cash-flow coastal asset with strong long-term fundamentals and future growth potential.