721 W Ocean Drive, Key Colony, FL 33051
$9,198,000
Property Type:
Vacant Land
Lot Size (sq. ft.):
91,650
Status:
Pending
Current Price:
$9,198,000
List Date:
4/17/2025
Last Modified:
5/27/2026
Overview
Description
Listing Details MLS# 614678
Location, Tax & Legal
- Street #
- 721
- Direction
- W
- Street Name
- Ocean
- Street Suffix
- Drive
- Key/Island
- Key Colony
- State/Province
- FL
- Zip Code
- 33051
- County
- Monroe
- Subdivision
- Stevens Sub (53.5)
- Area
- 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
- City
- KEY COLONY
- Off Shore Island
- No
- Mile Marker
- 53.5
- Marathon Neighborhood
- N/A
- Side
- Ocean
- Flood Zone
- AE VE by water only
- Alternate Key #
- 1084603
- Parcel #
- 00078380-000000
- Zoning
- R-3 - Multi Unit Res
- Deed Restrictions
- Unknown
- Legal
- LT 6 AMENDED & EXTENDED PLAT OF STEVENS SUBDIVISION SHELTER KEY PB4-8
- Taxes
- 0
- Tax Year
- 0
Contract Information
- Listing Board
- Key West Association
- ROGO Exempt
- Yes
- Limited Representation
- No
- As is Rght to Inspct
- Yes
- Potential Short Sale
- No
- Bank Owned
- No
- Species List
- Yes
General Property Description
- Realtor.COM Type
- Vacant Land
- Waterfront
- Yes
- Control Depth
- 2
- Lot SqFt
- 91650
- Lot Sqft Source
- Property Data Card
- Total Lots
- 3
- Survey Available
- Yes
- Vegetation Survey
- No
Status Change Info
- Under Contract Date
- 2025-06-03
- Contingent
- None
Miscellaneous Info
- Mobile Home Lot
- No
Dockage
- Dock Permit
- Yes
More Information
Financial Status
- Bank Owned
- No
- Potential Short Sale
- No
Remarks & Misc
- Remarks – Consumer
- Fantastic Oceanfront Development Opportunity in the heart of the Florida Keys! 2+ acres of prime oceanfront boasting 225' of beach front with dock permit in Key Colony Beach. A total of 3 lots with endless possibilities. Previous use was a 22 unit condominium. Or look into separating the lots to build 3 new luxury beach homes which are in very hot demand and rare to find. One house on this street sold March 2025 for $12 Million. Key Colony Beach is an upscale coastal community in the Middle Keys offering beautiful beaches, par 3 golf course, basketball, pickle and bocce ball, shopping and dining, marina, fishing charters, and 3 parks including Sunset Park where you will find Keys famous sunsets over the ocean all year long. Key Colony Beach also enjoys it's own police force and quick access to the Marathon Airport which is just minutes away.
- Directions
- From Overseas Hwy, turn Oceanside onto Sadowski Causeway, then right onto W Ocean Dr. The lot is on the left. Sign on property.
Assoc/Misc Info
- Mandatory Home Owners Asc
- No
- 1st Right of Refusal
- No
Tax Exemptions
- None
- Yes
Waterfront
- Beach Front
- Yes
- Oceanfront
- Yes
- Open Water
- Yes
Waterview
- Ocean View
- Yes
- Open Water View
- Yes
Neighborhood Feature
- Beach
- Yes
- Tennis Courts
- Yes
- Other Area Features
- Yes
Location/Site
- Cleared Site
- Yes
- Paved Street
- Yes
- Water Frontage
- Yes
Existing Utilities
- Electric on Site
- Yes
- Sewer
- Yes
- Water Line
- Yes
BuildingPermit
- Other Permit
- Yes
Land Size
- More than 1 Lot
- Yes
- 2 Less Than 5 Acres
- Yes
Terms
- No Seller Finance
- Yes
Title
- Negotiable
- Yes
Property Features
Tax Exemptions:
None
Waterfront:
Beach Front; Oceanfront; Open Water
Waterview:
Ocean View; Open Water View
Neighborhood Feature:
Beach; Tennis Courts; Other Area Features
Existing Utilities:
Electric on Site; Sewer; Water Line
BuildingPermit:
Other Permit
Land Size:
More than 1 Lot; 2 Less Than 5 Acres
Terms:
No Seller Finance
Title:
Negotiable
Documents
Survey ›
Listing Office:
Coldwell Banker Schmitt Real Estate Co
Last Updated: May - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.