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11600 Overseas Highway

Marathon, FL 33050
  • $1,800,000
  • STATUS: Active
  • ON SITE: 122 Days
  • MLS #: 608762
UPDATED: 137 min ago
$1,800,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 2
    1/2 BATHS
  • 7,130
    SQFT
  • $252
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1974
County:

School Ratings & Info

Description

Here's a fantastic opportunity to own the largest standalone commercial warehouse building (7,130 Sqft) in the Heart of the Florida Keys, also known as 'Marathon' Key. Built in 1974 and totally remodeled in 2018/2019 which included a new commercial grade metal roof, wiring, lighting, HVAC systems, bathrooms and landscaping. This property is conveniently located just over the 'Vaca Cut' bridge at the northern part of Marathon, directly off HWY US 1, with great visibility and highway frontage acess. What makes this property even better and more appealing to investors is the well-established long term nationally recognized tenant (Advance Disct Auto) who has occupied the building since 1991 (33 years).This is an excellent investment opportunity with an Absolute NNN + Lease, with no expenses to the owner whatsoever, the nationally recognized tenant maintains all; building and property maintenance, including the roof , exterior and interior walls, property taxes, all insurances; including liability, flood, wind and fire plus all Florida sales and use taxes. All these expenses are approx. 35K to 45K annually. So, don't miss this opportunity to have the largest free standing building with a well established corporate tenant and an easily managed property having an AbsoluteNNN + lease in place.Property recently appraised at $ 1.8 in Jan. of 2024!6.0% cap rate @ $ 1.8 to Feb, 2027 (3 years)6.5% cap rate @ $ 1.8 to Feb. 2032 (5 years)There is in place (3) additional 5-year tenant renewal options to the lease starting in March of 2032 ending in Feb. of 2047.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Coco Plum Real Estate are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.mymiddlekeys.com/homes/147661177
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11600 Overseas Highway Marathon, FL 33050

  • Price: $1,800,000
  • Status: Active
  • On Site: 122 Days
  • Updated: 137 min ago
  • MLS #: 608762
0
Beds
0
Baths
2
½ Baths
0.3
Acres
7,130
SQFT
$252
$/SQFT
1974
Built
Neighborhood:
Key Colony Sub (53.0)
County:
Monroe
Area:
15 - Sombrero Bch Rd To Vaca Cut Gulfside
Property Description
Here's a fantastic opportunity to own the largest standalone commercial warehouse building (7,130 Sqft) in the Heart of the Florida Keys, also known as 'Marathon' Key. Built in 1974 and totally remodeled in 2018/2019 which included a new commercial grade metal roof, wiring, lighting, HVAC systems, bathrooms and landscaping. This property is conveniently located just over the 'Vaca Cut' bridge at the northern part of Marathon, directly off HWY US 1, with great visibility and highway frontage acess. What makes this property even better and more appealing to investors is the well-established long term nationally recognized tenant (Advance Disct Auto) who has occupied the building since 1991 (33 years).This is an excellent investment opportunity with an Absolute NNN + Lease, with no expenses to the owner whatsoever, the nationally recognized tenant maintains all; building and property maintenance, including the roof , exterior and interior walls, property taxes, all insurances; including liability, flood, wind and fire plus all Florida sales and use taxes. All these expenses are approx. 35K to 45K annually. So, don't miss this opportunity to have the largest free standing building with a well established corporate tenant and an easily managed property having an AbsoluteNNN + lease in place.Property recently appraised at $ 1.8 in Jan. of 2024!6.0% cap rate @ $ 1.8 to Feb, 2027 (3 years)6.5% cap rate @ $ 1.8 to Feb. 2032 (5 years)There is in place (3) additional 5-year tenant renewal options to the lease starting in March of 2032 ending in Feb. of 2047.
Exterior Features

Construction CBS Dockage None Land Size Less Than 1/4 Acre Lot Size 125 x 112 Miscellaneous High Traffc LocationSecurity SystemHigh Visibility Off Street Parking yes Parking Spaces 8 Roof Metal Roof Side Bay/Gulf Style Commercial Vehicle Storage Common ParkingOff Street Parking Vehicle Storage Cars 4+ Waterfront None Waterfront YN No Waterview No Waterview

Interior Features

Appliances No Appliances Cooling Heating Central Air Floor ConcreteTile Net Leasable Area 7130.00 Windows Doors Glass DoorsOther Windows/Doors

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No Business Name Advanced Discnt Auto City MARATHON Commercial Type Auto Care Control Depth 0 Electric Meters 1 Fee Includes None Fema List No Flood Zone AE 7 Legal BK 2 LT 9 KEY COLONY SUBDIVISION 3 KEY VACA PB4-10 OR454-98 OR539-304 OR543-1084 OR580-406 OR580-408 OR691-148 OR691-14 Listing Board Marathon/Lower Keys Mile Marker 53.00 Off Shore Island No Potential Short Sale No Potential Short Sale Financial Status No Property Type Commercial Recorded Plat Yes Sq Ft Source Tax Records Tax Year 2023 Taxes 9303.41 Tenant Paid ElectricWaterTaxesSewerInsuranceGarbage Terms Buyer Obtain Finance Title Title Ins - Buyer Total Units 0.00 Utilities FKAAMunicipal Sewer Water Meters 1 Year Established 1992-03-01 Zoning RM - Residential Medium

Listing courtesy of Lynn Thompson of Key Colony Beach Realty: .


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Coco Plum Real Estate are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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Coco Plum Real Estate
11187 Overseas Hwy
Marathon FL, 33050