103400 Overseas HwyKey Largo, FL 33037

Property Details for 103400 Overseas Hwy

Year built

1986

Lot size

3.49 AC

Property size (Sq ft)

61,083 SF

Property type

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.

• 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

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

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