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$4,400,000

  • Sold
  • Closed
  • Retail
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Exceptional Islamorada, Florida Keys commercial investment opportunity. Established national retailer, West Marine, occupies the property under a long-term lease with renewal options, delivering a consistent and reliable 6.08% cap rate. The 9,990 SF building, constructed in 2018, is situated on a 30,000 SF parcel with US-1 frontage in the heart of downtown Islamorada. Site features include 32 on-site parking spaces, Village Center zoning, and excellent highway visibility. This is a rare opportunity to acquire a stable, income producing investment property in one of the most constrained commercial markets in the Florida Keys

Full Property Details for 81984 Overseas Hwy

General

  • Sold For: $4,400,000
  • Taxes: $28,416 (2024)
  • Status: Closed
  • Type: Retail
  • Source: Regional
  • MLS ID: R11142211
  • Added to Site: 81 day(s) ago

Business

  • Business Type: Commercial

Interior

  • Flooring: Concrete

Additional Information

  • Security/Safety: Closed Circuit Camera(s), Fire Alarm, Fire Sprinkler System, Smoke Detector(s)

Location

  • County: Monroe

Community

  • Community Name: 5940 - Other Florida County

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Central

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Structure Type: Retail
  • Construction: Block, Concrete
  • Roof: Built-Up
  • Stories/Levels: 1
  • Building Size: 9990
  • Year Built: 2018
  • Property Condition: New Construction
  • Other Struct. Feat.: Office, Showroom, Storage

Lot Features

  • Lot Size (Acres): 1
  • Lot Size (Sq. Ft.): 43,560
  • Lot Features: Central Business District
  • Zoning: Village Center

Financial Considerations

  • Tax Amount: $28,416.37
  • Tax Year: 2024
  • Terms: Conventional
  • Tenant Pays: Electricity, Taxes, Water

Disclosures and Reports

  • Documents Avail.: Lease
  • Legal Description: BK 5 LTS 20 AND 21 STRATTONS SUBD PB 2-38 UPPER MATECUMBE G24-94 G45-384 OR439-448 OR508-932 OR853-1097 OR888-1517 OR10
  • Property ID: 399710000000

Listed by Coldwell Banker Schmitt RE Co
Sold by Coldwell Banker Schmitt Real E

Listing agent

— 81984 Overseas Hwy —

  • Coldwell Banker Schmitt RE Co

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 81984 Overseas Hwy

School District:Monroe County School District, Middle Torch Key, FL
NameGradesDistance
Plantation Key School
100 Lake Road, Tavernier, FL 33070
PK-87.3 mi
Coral Shores High School
89901 Old Highway, Tavernier, FL 33070
9-127.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 81984 Overseas Hwy

Date
Details
Price
Change
Source
1/30/2026
Sold
$4,400,000
-7.37%
MLS
11/20/2025
Listed
$4,750,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Coldwell Banker Schmitt RE Co
Sold by Coldwell Banker Schmitt Real E

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Price Reduced near 81984 Overseas Hwy

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191 Fontaine Dr, Tavernier, FL 33070 - Photo 1 Price Reduced
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Recent Sales near 81984 Overseas Hwy

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81984 Overseas Hwy, Islamorada, FL 33036 - Photo 1 Sold
$4,400,000

81984 Overseas Hwy  Islamorada, FL 33036

  • Commercial Service
  • Closed
Listed by Coldwell Banker Schmitt Islamorada, Elizabeth Jolin
Sold by Coldwell Banker Schmitt Islamorada, Ashley Lindmar, Realtor and Coldwell Banker Schmitt Islamorada, Christy Hughes
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4 South Dr, Key Largo, FL 33037 - Photo 1 Sold
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4 South Dr  Key Largo, FL 33037

  • Single Family
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  • Updated 12 days ago
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    Beds
  • 4
    Total Baths
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    Sq. Ft.

81984 Overseas Highway, Islamorada, FL (MLS# R11142211) is a Retail property that was sold at $4,400,000 on January 30, 2026. Want to learn more about 81984 Overseas Highway? Do you have questions about finding other Retail real estate for sale in Islamorada? You can browse all Islamorada real estate or contact a Coldwell Banker agent to request more information.