103400 Overseas HwyKey Largo, FL 33037

  • Retail properties
  • 61,083 SF
For Lease

Property Details for 103400 Overseas Hwy

Year built
1986
Lot size
3.49 AC
Property size (Sq ft)
61,083 SF
Property type
Retail properties
Property subtype
Community centers
APN
00468472-009700
APU
468472009700

Description

Pink Plaza presents a unique investment opportunity in the heart of Key Largo. This two-story, 57,773 square foot retail and office building boasts a diverse tenant mix, ensuring stability and strong historical occupancy over the past decade. The property is exceptionally well-maintained, having recently undergone significant capital improvements. A major West Marine store serves as a key anchor tenant, contributing to the center's consistent success. The flexible space options range from a minimum of 90 square feet to a maximum contiguous space of 200 square feet, with a total of 200 square feet currently vacant, making it ideal for a variety of businesses. The property's zoning is designated as SC (Shopping Center), reflecting its established retail focus. Pink Plaza offers a compelling blend of retail and office spaces, catering to a wide spectrum of businesses, including restaurants, service providers, retailers (both hard and soft goods), government agencies, medical practices, and professional offices. With ample parking (262 spaces), Pink Plaza stands out as one of the few true shopping centers in the Upper Keys, providing a strategic advantage for prospective tenants and investors alike. The current occupancy rate demonstrates the property's enduring appeal and potential for continued growth. This is a rare opportunity to acquire a well-established, high-performing retail center in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $66,405,748
    6.5%
    $61,297,612
    7%
    $56,919,212
  • Comparable approach

    Method
    Valuation
    Relative Method
    $51,367,088
    Geo Method
    $51,367,088
  • Alternative Use

    Use
    Valuation
    Residential
    $51,706,832
    Hospitality
    $47,363,180
    Educational
    $39,405,608
    Medical
    $40,760,828
    Retail
    $61,297,612
103400 Overseas Hwy, Key Largo, Florida

Location Insight

City
Key Largo
County
Monroe
State
Florida
Latitude
25.1363
Longitude
-80.4043
CBSA code
28580
CBSA name
KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$82,933
$4,707,376
$6,228,416
$10,935,792
-
$4,707,376
$6,228,416
$10,935,792

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