Bought with Ashley Lindmar, Realtor • Coldwell Banker Schmitt Islamorada
$5,875,000
$6,500,000
9.6%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
5 Baths
SOLD DATE : 05/30/2025
Key Details
Sold Price $5,875,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Ocean View (82.5)
MLS Listing ID 611398
Sold Date 05/30/25
Bedrooms 2
Full Baths 2
Half Baths 3
Year Built 1960
Annual Tax Amount $20,176
Tax Year 2024
Property Sub-Type Commercial
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.
Location
State FL
County Monroe
Area 23 - Upper Matecumbe
Zoning VC - Village Center
Exterior
Utilities Available FKAA
Waterfront Description No
Roof Type Metal Roof
Building
Story 2.0
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