$3,599,000
Marathon, FL 33050
MLS# 621729
4 beds | 5 baths | 3017 sqft
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Property Description
Rare Florida Keys mixed-use development opportunity with approx. 124,300 sq. ft. of uplands plus additional bay bottom ownership. Property includes 4 verified building rights with Letter of Site Condition on file. Existing improvements include a duplex and single-family home. Mixed Use (MU) zoning allows for a wide range of future possibilities, including commercial, residential, storage facility, marina-related use, workforce housing, market-rate housing, or potential subdivision into multiple parcels. Current zoning allows up to 6 market-rate units per acre or up to 15 affordable units per acre, buyer to verify per City of Marathon. The property offers approximately 216 feet of highway frontage, plus additional east-side access through an access easement, creating multiple entry points and flexibility for future site planning. A neighboring gas station adds convenience and commercial synergy for future development concepts. A unique feature is the sleeper asset of this property which is ownership/control of bay bottom extending behind approximately 12 lots along Cocoplum Drive, creating potential value tied to dockage, marina concepts, water access, assemblage opportunities, or long-term redevelopment. Deep-water access, good depth, multiple boating configurations, and proximity to the marked channel entrance add to the site's appeal. Large mixed-use tracts with water access and verified building rights are increasingly rare in the Florida Keys, making this a strong opportunity for an investor, developer, marina operator, or long-term land holder. Seller states property will be delivered vacant and free of personal belongings before closing. Buyer to verify zoning, density, building rights, permitted uses, dockage, water depth, access easements, permitting, and development potential.
Details
Maps
Contract Information
Current Price: $3,599,000
Listing Date: 2026-10-21
Listing Board: Marathon/Lower Keys
Monthly Rent: $3,599,000
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: Yes
Location, Tax & Legal
Street #: 13759
Street Name: Overseas
Street Suffix: Highway
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
County: Monroe
Subdivision: Driftwood Estates (54.0)
Area: 18 - East of Holiday Inn US #1 & Coco Plum
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: Yes
Control Depth: 4
Pool: No
Year Built: 1973
Lot Size: X
Lot SqFt: 160800
Lot Sqft Source: Property Data Card
Acres: 1.47
Living Apx SqFt: 3017
SqFt Source: Property Data Card
Total Bedrooms: 4
Full Baths: 4
Half Baths: 1
Total Baths: 5
Rentals Allowed: Yes
Min Rental Days: 7
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Dockage
Dock Length: 150
Dock: Wood
Building Style
Above Flood: No
Financial Status
Auction: No
Bank Owned: No
Potential Short Sale: No
Standard Sale: Yes
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: Homestead
Waterfront: Open Water
Waterview: Ocean View; Open Water View
Vehicle Storage: Guest Parking; Off Street Parking
Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Appliances: Range; Refrigerator
Construction: CBS
Pets: Pets Allowed
Neighborhood Feature: Airstrip; Beach; Bike Paths
Land Size: 2 Less Than 5 Acres
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: October - 22 - 2026
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