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91865 Overseas Hwy 6 Unit Apartment Building $6,495,000 ($1,082,500/Unit) 7% Cap Rate Tavernier, FL 33070



Investment Highlights
- Strategically located mixed-use asset along the high-traffic Overseas Highway in the Florida Keys, ensuring exceptional visibility and accessibility
- Delivers stable cash flow with market-rate leases in place and a demonstrated return of approximately 7% based on current financial performance
- Attractive curb appeal enhanced by fresh stucco and paint, paver walkways, exterior lighting, and meticulously designed interiors with tile flooring
- Features a balanced tenant mix with 10 fully furnished residential apartments and 5 established commercial businesses
Executive Summary
Exceptional mixed-use investment opportunity in the heart of Tavernier at 91865 Overseas Highway. This fully renovated income-producing property features a strong tenant mix consisting of 10 residential apartments and 5 established commercial tenants, including a popular pizzeria, boutique doctor's office, hair and nail salon, coffee shop, and additional long-term businesses serving the Upper Keys community. The property has undergone extensive interior and exterior renovations with quality craftsmanship and attention to detail throughout, including high-impact windows and doors, updated plumbing and electrical systems, 2023 Metal/Shingle Roofs, new A/C units, paver walkways, exterior lighting, fresh stucco and paint, tile flooring throughout, zebra shades, and fully furnished all inclusive residential units. Positioned along the highly trafficked Overseas Highway corridor, this landmark property in the south end of Key Largo offers stable cash flow, strong rental demand, and substantial annual revenue with market-rate leases already in place. Under the current Profit & Loss Statement, the property is producing approximately a 7% return based on the asking price. Seller financing available with up to $3,000,000 owner financing offered at 4% interest-only payments for up to 3 years. A rare turnkey commercial asset in one of the Florida Keys' most desirable and supply-constrained markets.
Property Facts
| Price | $6,495,000 | Property Subtype | Apartment |
| Price Per Unit | $1,082,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 7% | Building Size | 10,000 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 2018/2026 |
| Zoning | SC - Sub Urban Commercial District | ||
| Price | $6,495,000 |
| Price Per Unit | $1,082,500 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 10,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 2018/2026 |
| Zoning | SC - Sub Urban Commercial District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 00555610-000000 | Improvements Assessment | $1,149,523 |
| Land Assessment | $1,193,843 | Total Assessment | $2,343,366 |
Property Taxes
Parcel Number
00555610-000000
Land Assessment
$1,193,843
Improvements Assessment
$1,149,523
Total Assessment
$2,343,366
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