Auto Parts
Advance Auto Parts | $235PSF Florida Keys | Absolute NNN | 6.45% CAP on Option
11600 Overseas Hwy, Marathon, FL 33050
Listing Price: $1,675,000
Investment Overview
Marcus & Millichap is pleased to present an exceptional net-leased investment opportunity at 11600 Overseas Highway, Marathon, FL 33050. This 7,130-square-foot, stand-alone commercial Retail/Warehouse is the largest of its kind in Marathon and has been in the same family ownership for over 50 years. The property underwent a complete renovation in 2018/2019, including a new commercial-grade metal roof, all-new electrical, new HVAC, roll-down loading area door, and much more.
Strategically located directly on Highway US-1, the primary artery through the Florida Keys, this property benefits from high visibility, easy access, and excellent frontage. Over 24,000 vehicles per day pass by this location, ensuring strong exposure and long-term tenant demand.
Currently 100% occupied by Advance Auto Parts, a nationally recognized retailer that has been a tenant since 1991 (33 years), the property offers a Rare absolute NNN lease, with no landlord responsibilities whatsoever. The lease extends through February 2032, with three additional five-year renewal options, extending potential occupancy through 2047. The tenant is responsible for all expenses, including property maintenance, repairs, insurance, taxes, and even rebuilding if necessary, making this a truly passive, long-term investment.
Additionally, the tenant is currently paying under $11 PSF, whereas CoStar market rents reflect $41.56 PSF overall, presenting a significant upside potential for future repositioning or redevelopment. Nearby National retailers include Publix, Walgreens, Dollar Tree, and many more.
Advance Auto Parts | $235PSF Florida Keys | Absolute NNN | 6.45% CAP on Option
Investment Highlights
- Rare Absolute NNN Lease – No Expenses For the Owner; the Tenant is Responsible for All Operating and Capital Costs, Insurance, Property Taxes, Maintenance, and Repairs, Including Structural Components
- Secure National Credit Tenant – Advance Auto Parts has Occupied The Property for 33 Years and has Exercised its Lease Extensions Through 2032, with Three Additional 5-year Renewal Options.
- Strong Market & Location – Marathon Is A High-Barrier-To-Entry Market With Limited Commercial Inventory, Ensuring Long-Term Demand And Property Value Stability.
- Recently Renovated – Extensive 2018/2019 Renovations Include a New Metal Roof, HVAC Systems, LED Lighting, ADA-Compliant Bathrooms, Upgraded Electrical, Roll-Down Loading Door, and Full Interior/Exterior Improvements.
- Prime Location with High Traffic Exposure – Over 24,000 Vehicles Per Day Travel Along Highway US-1, Providing Strong Visibility and Branding Exposure for the Tenant and Future Uses.
Exclusively Listed By
Auto Parts
Advance Auto Parts | $235PSF Florida Keys | Absolute NNN | 6.45% CAP on Option
Listing Price: $1,675,000
Investment Highlights
- Rare Absolute NNN Lease – No Expenses For the Owner; the Tenant is Responsible for All Operating and Capital Costs, Insurance, Property Taxes, Maintenance, and Repairs, Including Structural Components
- Secure National Credit Tenant – Advance Auto Parts has Occupied The Property for 33 Years and has Exercised its Lease Extensions Through 2032, with Three Additional 5-year Renewal Options.
- Strong Market & Location – Marathon Is A High-Barrier-To-Entry Market With Limited Commercial Inventory, Ensuring Long-Term Demand And Property Value Stability.
- Recently Renovated – Extensive 2018/2019 Renovations Include a New Metal Roof, HVAC Systems, LED Lighting, ADA-Compliant Bathrooms, Upgraded Electrical, Roll-Down Loading Door, and Full Interior/Exterior Improvements.
- Prime Location with High Traffic Exposure – Over 24,000 Vehicles Per Day Travel Along Highway US-1, Providing Strong Visibility and Branding Exposure for the Tenant and Future Uses.
Investment Overview
Marcus & Millichap is pleased to present an exceptional net-leased investment opportunity at 11600 Overseas Highway, Marathon, FL 33050. This 7,130-square-foot, stand-alone commercial Retail/Warehouse is the largest of its kind in Marathon and has been in the same family ownership for over 50 years. The property underwent a complete renovation in 2018/2019, including a new commercial-grade metal roof, all-new electrical, new HVAC, roll-down loading area door, and much more. Strategically located directly on Highway US-1, the primary artery through the Florida Keys, this property benefits from high visibility, easy access, and excellent frontage. Over 24,000 vehicles per day pass by this location, ensuring strong exposure and long-term tenant demand. Currently 100% occupied by Advance Auto Parts, a nationally recognized retailer that has been a tenant since 1991 (33 years), the property offers a Rare absolute NNN lease, with no landlord responsibilities whatsoever. The lease extends through February 2032, with three additional five-year renewal options, extending potential occupancy through 2047. The tenant is responsible for all expenses, including property maintenance, repairs, insurance, taxes, and even rebuilding if necessary, making this a truly passive, long-term investment. Additionally, the tenant is currently paying under $11 PSF, whereas CoStar market rents reflect $41.56 PSF overall, presenting a significant upside potential for future repositioning or redevelopment. Nearby National retailers include Publix, Walgreens, Dollar Tree, and many more.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.