A peel-and-set tile system is disclosed for being installed onto a substrate, along with a corresponding method of manufacture and installation. The system provides, in an exemplary embodiment, a tile body. An underside surface of the tile body provides a contact adhesive array for securing the tile body to the substrate, the contact adhesive array being positioned and configured for forming a perimeter gasket continuously about a perimeter of the underside surface of the tile body when it is secured to the substrate. A peel-away release liner is applied over the contact adhesive array and configured to be removed therefrom when the tile body is to be installed onto the substrate. When the tile body is secured to the substrate, the perimeter gasket forms a bond that substantially prevents liquid or contaminants from getting between the underside surface of the tile body and the substrate or compromising the installation.