87847 Overseas HwyIslamorada, FL 33036

Property Details for 87847 Overseas Hwy

Year built

1953

Lot size

0.14 AC

Property size (Sq ft)

2,764 SF

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

00413100-000000

APU

413100000000

Description

This exceptional Class A commercial building, constructed in 2015 and boasting 2,764 square feet, is situated on a prime Highway Commercial with Mixed Use zoned lot in the heart of Islamorada, Florida. The property features dual ingress/egress from US-1 and "Old Highway," ensuring high visibility and accessibility. The ground floor offers a spacious commercial area perfect for professional services, including a large reception area, receptionist window, kitchen, ADA-compliant bathroom, and a grand conference room with executive offices. Upstairs, a lavish 2-bedroom, 2-bathroom residential apartment provides luxurious owner-user accommodations. High-end finishes throughout include travertine marble floors, 10-foot ceilings, impact glass, plantation shutters, and custom cabinetry. The building also features two 5-ton Carrier HVAC systems, 8-foot solid core doors, and an impressive highway billboard-style sign. The apartment includes plank wood-grain porcelain tile, stainless Whirlpool appliances, a large living/kitchen/dining area, and a master suite with a private patio and opulent bathroom. Eight parking spaces are available. The property is fully furnished and can convey turn-key. This is an unparalleled opportunity for an owner-user seeking a prestigious and functional space in a highly desirable location. The asking price is $1,899,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,531,439

  6.5%

  $2,336,713

  7%

  $2,169,805

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,428,022

  Geo Method

  $1,428,022

• Alternative Use

  Use

  Valuation

  Residential

  $2,336,713

  Hospitality

  $2,140,416

  Educational

  $1,780,801

  Medical

  $1,842,046

  Retail

  $2,770,136

Location Insight

City

Islamorada

County

Monroe

State

Florida

Latitude

24.9694

Longitude

-80.5585

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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