11600 Overseas Highway

    Marathon, FL 33050
    • $1,750,000
    • STATUS: Active
    • ON SITE: 27 days
    • MLS #: 590653
    $1,750,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 2
      1/2 BATHS
    • 7,130
      SQFT
    • $245
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1974
    County:

    School Ratings & Info

    Description

    5.7% CAP to end of Lease term 2-28-22, 6% CAP to end of Lease term 2-28-27, 6.5% CAP to end of lease term 2-29-32. Current Lease ends March of 2022. There are two, 5-year options in place for an additional 10 years with a 10% increase in rent on each option. NNN + Lease with no expenses to the owner whatsoever. Tenant has been there 28 years since 1992 and has another 12 years to go. Located just south of Vaca cut bridge Directly off US 1. Well established National Tenant maintains all property taxes, insurance, and property maintenance approx. 35k annually. New roof 2018, new interior walls, paint, electric, lighting, new insulation, new breaker boxes, updated bathroom and added extra bathroom in 2018.

    Monthly Payment Calculator



    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 Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
    www.keywestluxuryrealestateinc.com/homes/105348614

    11600 Overseas Highway Marathon, FL 33050

    • Price: $1,750,000
    • Status: Active
    • MLS #: 590653
    0
    Beds
    0
    Baths
    2
    ½ Baths
    0.3
    Acres
    7,130
    SQFT
    $245
    $/SQFT
    1974
    Built
    Neighborhood:
    Key Colony Sub (53.0)
    County:
    Monroe
    Area:
    15 - Sombrero Bch Rd To Vaca Cut Gulfside
    Property Description
    5.7% CAP to end of Lease term 2-28-22, 6% CAP to end of Lease term 2-28-27, 6.5% CAP to end of lease term 2-29-32. Current Lease ends March of 2022. There are two, 5-year options in place for an additional 10 years with a 10% increase in rent on each option. NNN + Lease with no expenses to the owner whatsoever. Tenant has been there 28 years since 1992 and has another 12 years to go. Located just south of Vaca cut bridge Directly off US 1. Well established National Tenant maintains all property taxes, insurance, and property maintenance approx. 35k annually. New roof 2018, new interior walls, paint, electric, lighting, new insulation, new breaker boxes, updated bathroom and added extra bathroom in 2018.
    Exterior Features

    Construction Cbs Dockage None Land Size Less Than 1/4 Acre Lot Size 125X112 Miscellaneous High Traffc LocationHigh VisibilityHighway FrontageSecurity System Off Street Parking Yes Parking Spaces 10 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 A/C Floor ConcreteTile Floor Net Leasable Area 7130.00 Windows Doors Glass DoorsOther Windows/Doors

    Property Features

    Assoc Hoa YN No Assoc Right Of Refusal Yes Bank Owned No Bank Owned Financial Status No Business Name Advance Discnt Auto City Marathon Commercial Type Auto Care Control Depth 0 Deed Restrictions No Electric Meters 1 Fee Includes None Fema List No Flood Zone Ae 7 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 Property Data Card Tax Year 2019 Taxes 9685.74 Tenant Paid ElectricGarbageInsuranceSewerTaxesWater 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 Samuel Davis Williams of Coldwell Banker Schmitt Real Estate Co..


    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 Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
     
    Key West Luxury Real Estate Inc
    619 Eaton Street, #2
    Key West FL, 33040