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.
MLS# | 611398 |
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Listing Type | For Sale |
Sub-Type | Resale |
Status | Active |
Year | 1960 |
Days On Site | 61 |
Listing Provided By | RE/MAX All Keys Real Estate | Gregory Dully |
Bed(s) | 2 |
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Bath(s) | 5 Total |
Story(s) | 2 |
Building(s) | 3 |
Zoning | VC - Village Center |
Acreage | 1.01 |
Property View | No Waterview |
State | FL |
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County | Monroe |
City | ISLAMORADA |
Zip Code | 33036 |
Area | 23 Upper Matecumbe |
Community Name | Ocean View (82.5) |
Listing VS Median (in Ocean View (82.5)) | |
Price: $6,500,000 low | high Med: $0 On Site: 61 low | high Med: |