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11600 Overseas Hwy

7,130 SF Retail Building Marathon, FL 33050 $1,650,000 ($231/SF) 4.50% Cap Rate

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Investment Highlights

NNN Lease Long term nationally recognized tenant
Highway frontage

Largest standalone commercial warehouse building in Marathon

Executive Summary

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 commercial grade metal roof, completely rewired with all new LED lighting, new HVAC systems, remodeled ADA compliance bathrooms, interior and exterior walls painted, new roll down loading area door, fully insulated and landscaping. This property is directly off HWY US1, with great visibility and highway frontage access. What makes this property appealing to investors is the well- established nationally recognized tenant (Advance Discount Auto Parts) who has occupied the building since 1991 (33years). This is an excellent investment opportunity with Absolute NNN + Lease in place until 2032, with no expenses to the owner whatsoever, the tenant is responsible for all building expenses and property maintenance, including the roof, HVAC systems, electrical, plumbing and the exterior and interior walls. The tenant is also responsible to pay for directly all state and local taxes assessed on the property and required to provide and maintain all insurances, flood, wind, fire and liability insurance for the tenant and landlord. These expenses alone are approximately 45K to 55K annually, not including any and all yearly maintenance expenses paid by the tenant. The property recently appraised at $1.8 in January of 2024, with an Absolute NNN + lease in place until 2032 with (3) additional 5-year tenant renewal options to the lease starting and ending in Fe. of 2047.
Absolute NNN + lease in place until 2032 : March 2022 to Feb. 2027: $5,934.00 monthly, March 2027 to Feb. 2032: $6,527.00 monthly,(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