11600 Overseas Highway , MARATHON, FL 33050
MARATHON, FL 33050
Description
ATTENTION ALL INVESTORS! Don't miss this opportunity of a lifetime that has just come about after being in the family for over 50 years, the largest stand alone commercial warehouse building 7,130 sqft in Marathon, is now up for sale, built in 1974 and totally remodeled in 2018/2019 with a new hurricane rated commercial grade metal roof, completely rewired with all new LED lighting, new HVAC systems, remodeled ADA compliance bathrooms, interior and exterior walls painted, new hurricane proof loading area door, fully insulated and landscaped. This property is located directly off HWY US1, with great visibility and highway frontage access. What makes this property appealing to all investors is the well- established long term nationally recognized tenant (Advanced Discount Auto Parts) who has occupied the building since 1991 (33 years) (Absolute NNN + Lease), with no expenses to the owner whatsoever, the nationally recognized tenant maintains all the building expenses and property maintenance, including maintaining the roof, HVAC systems, plumbing, electrical, exterior and interior walls and the property. The tenant is also required by the lease to be responsible for all insurances, including providing liability insurance for the tenant and the landlord, flood, wind and fire insurance, plus all taxes accessed on the property including the sales and use taxes. All these expenses are approximately 45K to 55K annually and paid by the tenant directly, not including any and all maintenance expenses paid by the tenant. So don't miss this opportunity!! Absolute NNN + Lease in place until 2032: March 2022 to Feb. 2027: $5,954.00 per month March 2027 to Feb. 2032: $6,527.00 per month .. (3) additional 5-year tenant renewal options starting in 2032 and ending in 2047. 6th Extension: March 2032 to Feb. 2037 $9,000.00 monthly, 7th Extension: March 2037 to Feb. 2042 $10,000.00 monthly, 8th Extension March 2042 to Feb. 2047: $11,000.00 monthly
Details
| Mls | 608762 |
|---|---|
| Listing Type | For Sale |
| Style | Industrial |
| Buildingname | Advanced Discnt Auto |
| Subtype | Resale |
| Status | Active |
| Year | 1974 |
| Days On Site | 293 |
| Listing Provided By | Key Colony Beach Realty | Lynn Thompson |
| Buying Commission | 3% |
Features
| Baths | 2 Total |
|---|---|
| Sq Feet | 7,130 |
| Storys | 1 |
| Zoning | RM - Residential Medium |
| Acreage | 0.30 |
| Property View | No Waterview |
Market Activity 33050
The data relating to real estate for sale on this web site come s in part from the Internet Data Exchange program of the Marathon and Lower Keys Association of REALTORS®, Inc. MLS. Real Estate listings held by brokerage firms other than Coldwell Banker Schmitt are marked with the MLS logo and detailed information about them includes the name of the listing broker’s office.
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Learn More About This Property
| State | FL |
|---|---|
| County | Monroe |
| City | MARATHON |
| Zip Code | 33050 |
| Area | 15 Sombrero Bch Rd to Vaca Cut Gulfside |
| Community Name | Key Colony Sub (53.0) |
| Listing VS Median (in Key Colony Sub (53.0)) | |
Price: $1,650,000 low | high Med: $480,000 SqFt: 7,130 low | high Med: 690 $ / SqFt: $231 low | high Med: $696 On Site: 293 low | high Med: 189.000000 | |