98150 Overseas HwyKey Largo, FL 33037

Property Details for 98150 Overseas Hwy

Year built

1958

Lot size

1.10 AC

Property size (Sq ft)

2,830 SF

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

00519640-000000

APU

519640000000

Description

This exceptional Key Largo commercial property presents a unique investment opportunity. Located at 98150 Overseas Highway, Key Largo, FL 33037, this 1.1-acre (approximately 47,916 sq ft) rectangular parcel boasts unparalleled visibility and accessibility from the Overseas Highway and Grand Street. The property features a 2,830 square foot building, currently operating as a successful boat sales and service business. The seller offers flexibility; they can relocate their existing business to a nearby location or potentially lease back the space, depending on the buyer's intentions. This versatile property, built in 1958, is ideal for a variety of commercial uses, benefiting from its high-traffic location with convenient access from both directions of the Overseas Highway, eliminating the need to cross medians. The absence of traffic interruptions ensures optimal customer access. This is a rare chance to acquire a substantial commercial property in a prime Key Largo location. The property's size and location make it an attractive investment for entrepreneurs seeking high visibility and convenient access for their business. The existing building provides immediate operational potential, while the ample land offers significant expansion possibilities. This is a truly remarkable opportunity in a highly desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,593,443

  6.5%

  $2,393,948

  7%

  $2,222,952

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,462,903

  Geo Method

  $1,462,903

• Alternative Use

  Use

  Valuation

  Residential

  $2,393,948

  Hospitality

  $2,192,843

  Educational

  $1,824,420

  Medical

  $1,887,164

  Retail

  $2,837,986

Location Insight

City

Key Largo

County

Monroe

State

Florida

Latitude

25.0795

Longitude

-80.4569

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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