91865 Overseas Hwy - Apartments FOR SALE


Tavernier, FL 33070
$6,495,000 USD
305-619-0458
91865 Overseas Hwy, Tavernier, FL for Sale
$6,495,000 USD
Apartments - FOR SALE
1/30
null | 7% Cap Rate

91865 Overseas Hwy
Tavernier, FL 33070


HIGHLIGHTS

  • RARE INVESTMENT OPPORTUNITY W/ 143' OF OVERSEAS HWY FRONTAGE IN ONE OF THE FLORIDA KEYS’ MOST SUPPLY CONSTRAINED/SOUGHT AFTER INVESTMENT CORRIDORS
  • OVER $1.5M+ INVESTED IN 2025–2026 RENOVATIONS INCLUDING ROOFS, IMPACT DOORS/WINDOWS, HVAC, PLUMBING, ELECTRICAL, LUXURY INT/EXT FINISHES
  • * SELLER FINANCING AVAILABLE * UP TO $3M INTEREST ONLY @ 4% FOR 3 YRS! SIGNIFICANTLY LOWERS CONVENTIONAL LENDING EXPOSURE WHILE PRESERVING LIQUIDITY!
  • APPROX. 7%+ RETURN AT ASKING PRICE WITH STRONG IN-PLACE INCOME, 100% OCCUPANCY W/ DIVERSIFIED TENANCY AND EXCEPTIONAL LONG-TERM APPRECIATION POTENTIAL
  • *TURN KEY ASSET* 10 LUXURY APARTMENTS & 5 LIFESTYLE-ORIENTED COMMERCIAL TENANTS & FUTURE FOOD TRUCK/OUTDOOR DINING OFFER OPPORTUNITY FOR GROWTH
  • INCREDIBLE PASSIVE INVESTMENT , HIGHLY RESILIENT, KNOWN LANDMARK PROPERTY IN PRIME LOCATION OF HISTORIC DISTRICT OF SOUTH KEY LARGO! (TAVERNIER)

OVERVIEW

91865 Overseas Highway presents a rare opportunity to acquire a fully redeveloped, mixed-use investment asset in the heart of the southern Key Largo's historical district, one of the Florida Keys’ most supply-constrained and high-demand commercial corridors. Strategically positioned along highly visible Overseas Highway with 143' of frontage at Mile Marker 91, the property combines stabilized income, luxury renovations, and long-term appreciation potential in a turnkey, hands-free investment. The property features 10 fully renovated luxury residential apartments and 5 established lifestyle-oriented commercial tenants, including a popular pizzeria, boutique medical office, beauty and wellness operators, coffee service, and additional long-term neighborhood businesses serving both locals and the steady flow of Upper Keys visitors. The curated tenant mix creates a vibrant destination atmosphere while providing diversified and dependable income streams. Current ownership invested over $1.5M into an extensive 2025–2026 redevelopment program designed to position the asset for long-term institutional-quality ownership with minimal deferred maintenance exposure. Improvements include new metal and shingle roofing systems, impact-rated windows and doors, upgraded plumbing and electrical infrastructure, new HVAC systems, fresh stucco and paint, premium paver hardscaping, exterior lighting, designer interior finishes, tile flooring throughout, zebra shades, and fully furnished all-inclusive residential units. The property currently produces approximately a 7% return at the asking price based on the existing Profit & Loss Statement, offering investors immediate stabilized cash flow in a market with persistent residential and commercial demand. Seller financing is available with up to $3,000,000 offered at 4% interest-only payments for up to 3 years, creating a compelling leverage opportunity for qualified buyers seeking enhanced cash-on-cash returns. Additional upside exists through the planned addition of a food truck and entertainment component designed to increase property traffic, strengthen tenant synergy, and introduce a new experiential element to the municipality. With limited commercial inventory, rising replacement costs, and exceptionally high barriers to new development throughout the Upper Keys, 91865 Overseas Highway represents a rare opportunity to secure a modernized, high-cash-flow coastal asset with strong long-term fundamentals and future growth potential.

FOR SALE DETAILS

PRICE

$6,495,000 USD

PRICE/SF

$650 USD /SF

# OF UNITS

15

PRICE/UNIT

$433,000

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,215 SF

ZONING

SC

APN/PARCEL ID

00555610-000000

ASK ABOUT THIS PROPERTY

Kevin CornellCornell Commercial Real EstateMore Info
305-619-0458

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Kevin CornellCornell Commercial Real EstateMore Info
305-619-0458

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.