$5,875,000
Upper Matecumbe Key Islamorada, FL 33036
MLS# 611398
Status: Closed
2 beds | 5 baths
1 / 61
Property 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.
Details
Maps
Contract Information
Current Price: $5,875,000
Listing Date: 2024-09-09
Listing Board: Florida Keys
Leased Price Monthly: $5,875,000
Limited Representation: No
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Location, Tax & Legal
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
Style: Commercial
Lot Size: 264 x 150 x 277 x 167
Lot SqFt: 44107
Waterfront: No
# Stories: 2
Total # Buildings: 3
Building SqFt: 9064
Year Built: 1960
Total Bedrooms: 2
Full Baths: 2
Half Baths: 3
Total Baths: 5
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2025-05-26
Leased Date: 2025-05-30
Leased Price Monthly: $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: August - 31 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.