82929 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036
$5,500,000
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
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.