11600 Overseas HwyMarathon, FL 33050

Property Details for 11600 Overseas Hwy

Year built

1974

Lot size

0.30 AC

Property size (Sq ft)

7,130 SF

Property type

Retail space

APN

00334770-000000

APU

334770000000

Description

This exceptional investment opportunity presents a 7,130-square-foot freestanding commercial warehouse in Marathon, Florida, situated directly on US Highway 1, offering excellent visibility and accessibility. Built in 1974 and extensively remodeled in 2018-2019, the property boasts a new hurricane-rated metal roof, updated HVAC systems, ADA-compliant bathrooms, and new LED lighting throughout. The interior and exterior have been freshly painted, and a new hurricane-proof loading dock door has been installed. The building is fully insulated and attractively landscaped. A long-term, nationally recognized tenant, Advanced Discount Auto Parts, has occupied the space since 1991 under an absolute NNN lease, significantly reducing owner responsibilities. The current lease runs until February 2032, with three additional five-year renewal options extending to 2047, featuring escalating monthly rent: $5,954 from March 2022 to February 2027

• CAP approach

  CAP return

  Valuation

  6%

  $7,732,452

  6.5%

  $7,137,648

  7%

  $6,627,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,982,905

  Geo Method

  $5,982,905

• Alternative Use

  Use

  Valuation

  Residential

  $6,020,872

  Hospitality

  $5,515,087

  Educational

  $4,588,488

  Medical

  $4,746,292

  Retail

  $7,137,648

Location Insight

City

Marathon

County

Monroe

State

Florida

Latitude

24.7304

Longitude

-81.0316

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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