82929 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036 (MLS# 614467)

82929 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036

$5,500,000

Virtual Tour

http://tours.keyspropertyvisuals.com/vt/354507

Property Type: Commercial Sale Lot Size (sq. ft.): 22,500 Status: Active

Current Price: $5,500,000 List Date: 4/04/2025 Last Modified: 10/16/2025

Description

Prime Redevelopment Opportunity in the Heart of Islamorada A rare investment in paradise! This one-of-a-kind property, made up of three parcels located at 82925, 82929, and 82935 Overseas Hwy, presents a developer's dream in the heart of Islamorada. Currently featuring a mix of mobile homes, multiple apartments, and a commercial building, the property is zoned Village Center, allowing for a broad range of redevelopment possibilities. Islamorada Village Planning Department recognizes 8 Market Rate Development Rights and 1 commercial building boasting 3,312 nonresidential SF with attached work yard. At the gateway to Islamorada, this prime location offers an unparalleled welcome to all Islamorada has to offer including world-class fishing, dining, diving, and shopping. Find a win through thoughtful investment in the charmed Islamorada real estate market.

More Information MLS# 614467

Contract Information

Listing Board: Florida Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Species List: No Current Price: $5,500,000 Listing Date: 2025-04-04 List Price: $5,500,000

Location, Tax & Legal

City: ISLAMORADA Off Shore Island: No Mile Marker: 82.5 Marathon Neighborhood: N/A Side: Ocean Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 1495956 Add'l Parcel #1: 82925 Overseas Hwy Parcel #: 00403640-000000 Add'l Parcel #2: 82935 Overseas Hwy Zoning: VC - Village Center Legal: BK 1 LT 14 OCEAN VIEW PB1-193 UPPER MATECUMBE OR425-866/867 OR472-735/736 OR727-484 OR732-374 UNRECORDED D/C ON FILE OR Taxes: 6395.12 Tax Year: 2024 Street #: 82929 Street Name: Overseas Street Suffix: Highway Key/Island: Upper Matecumbe Key Islamorada State/Province: FL Zip Code: 33036 Subdivision: Ocean View (82.5) County: Monroe Area: 23 - Upper Matecumbe

General Property Description

Realtor.COM Type: Multi-Family Waterfront: No Control Depth: 0 Lot Size: 7,500 SF x 3 Lot SqFt: 22500 Total Units: 9 Year Established: 1959-12-31 Off Street Parking: Yes SqFt Source: Property Data Card Total # Buildings: 9 Style: Commercial Year Built: 1963

Remarks & Misc

Remarks – Consumer: Prime Redevelopment Opportunity in the Heart of Islamorada A rare investment in paradise! This one-of-a-kind property, made up of three parcels located at 82925, 82929, and 82935 Overseas Hwy, presents a developer's dream in the heart of Islamorada. Currently featuring a mix of mobile homes, multiple apartments, and a commercial building, the property is zoned Village Center, allowing for a broad range of redevelopment possibilities. Islamorada Village Planning Department recognizes 8 Market Rate Development Rights and 1 commercial building boasting 3,312 nonresidential SF with attached work yard. At the gateway to Islamorada, this prime location offers an unparalleled welcome to all Islamorada has to offer including world-class fishing, dining, diving, and shopping. Find a win through thoughtful investment in the charmed Islamorada real estate market.

Deed Restrictions

No: 1

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

License Info

Other/See Remarks: 1

Type

Apartment 3 or more: 1 Mobile Home Park: 1 Other Services: 1

Fee Includes

Other: 1

Dockage

None: 1

Accounts & Meters

# Sewer Accounts: 12 # Electric Meters: 2

Waterfront

None: 1

Waterview

No Waterview: 1

Vehicle Storage

Off Street Parking: 1

Construction

Concrete: 1 Manufactured: 1

Land Size

1/2 - Less Than 1 AC: 1

Utilities

Buyer to Verify: 1 FKAA: 1 Municipal Sewer: 1 Separate Meters: 1

Property Rights

Multi-Use/Commercial: 1 Transfer Bldg Rights: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Status: Active

Property Features

Deed Restrictions: No License Info: Other/See Remarks Type: Apartment 3 or more; Mobile Home Park; Other Services Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Utilities: Buyer to Verify; FKAA; Municipal Sewer; Separate Meters Construction: Concrete; Manufactured Land Size: 1/2 - Less Than 1 AC Fee Includes: Other Property Rights: Multi-Use/Commercial; Transfer Bldg Rights

Listing Office: Coldwell Banker Schmitt Islamorada

Last Updated: October - 16 - 2025

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