89170 Overseas HwyIslamorada, FL 33070

Property Details for 89170 Overseas Hwy

Year built

1963

Lot size

0.26 AC

Property size (Sq ft)

2,800 SF

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

00422150-000000

APU

422150000000

Description

This exceptional Islamorada commercial property presents a unique investment opportunity. Located at 89170 Overseas Highway on Plantation Key, this multi-use building boasts 50 feet of prime frontage on US 1, offering unparalleled visibility and accessibility. The property's zoning allows for diverse uses, maximizing its income potential. The building itself is concrete constructed and has undergone tasteful updates and consistent maintenance. The layout includes four apartments, dedicated commercial space, and ample enclosed and exterior storage areas. The dual access points, from US 1 and Iroquois, provide convenient entry to both the building and the storage facilities. This versatile property allows for an owner-occupant model, combining living and business operations in one highly desirable location. Alternatively, the entire property can be leased out for substantial rental income. Projected rental income figures are available upon request. This is a rare chance to acquire a well-maintained, income-producing asset in a prime Islamorada location. The property's combination of residential and commercial space, along with its strategic location and dual access, makes it an exceptional investment opportunity. Don't miss this chance to own a piece of Islamorada's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $2,564,470

  6.5%

  $2,367,203

  7%

  $2,198,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,446,651

  Geo Method

  $1,446,651

• Alternative Use

  Use

  Valuation

  Residential

  $2,367,203

  Hospitality

  $2,168,346

  Educational

  $1,804,038

  Medical

  $1,866,082

  Retail

  $2,806,281

Location Insight

City

Tavernier

County

Monroe

State

Florida

Latitude

24.9845

Longitude

-80.546

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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