$4,400,000
Upper Matecumbe Key Islamorada, FL 33036
MLS# 617385
Status: Closed
2 baths | 9990 sqft
1 / 17
Property Description
Exceptional Islamorada 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.
Details
Maps
Contract Information
Current Price: $4,400,000
Listing Date: 2025-11-19
Listing Board: Florida Keys
Leased Price Monthly: $4,400,000
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Location, Tax & Legal
Street #: 81984
Street Name: Overseas
Street Suffix: Highway
Key/Island: Upper Matecumbe Key Islamorada
State/Province: FL
Zip Code: 33036
Subdivision: Strattons (82.5)
County: Monroe
Area: 23 - Upper Matecumbe
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 200x150
Lot SqFt: 30000
Waterfront: No
Business Name: West Marine Building
# Parking Spaces: 32
Building Ht. Ft.: 25
Total # Buildings: 1
Building SqFt: 9990
SqFt Source: Property Data Card
Living Apx SqFt: 9990
Year Built: 2018
Full Baths: 2
Total Baths: 2
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Appliances
Other: Retail Space
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2026-01-16
Leased Date: 2026-01-21
Leased Price Monthly: $4,400,000
Status: Closed
Property Features
Type: Franchise; Franchise; Grocery/Convenience; Professional Service; Restaurant
Waterfront: None
Waterview: No Waterview
Dockage: None
Cooling: Central Air
Heating: Central
Utilities: Municipal Sewer
Miscellaneous: High Traffc Location; High Visibility; Highway Frontage; Loading Dock
Construction: CBS; Concrete
Floor: Concrete
Land Size: 1/2 - Less Than 1 AC
Fee Includes: Other
Listing Office: Coldwell Banker Schmitt Islamorada
Last Updated: January - 21 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.