$1,680,000
Lower Matecumbe, FL 33036
MLS# 620534
3 beds | 2 baths | 1980 sqft

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Property Description
Prime Islamorada Mixed-Use Investment | Ocean Views | Overseas Highway Frontage Exceptional mixed-use investment opportunity in the heart of Islamorada. Positioned directly on the Overseas Highway at Mile Marker 74.5, this highly visible Neighborhood Commercial (NC) property offers outstanding exposure, excellent accessibility, and panoramic Atlantic Ocean views. Originally permitted as a three-unit apartment building, the property is currently configured with two primary residential/commercial spaces, presenting an opportunity for a future owner to explore the potential for a third apartment or additional income-producing space, subject to local approvals. The flexible layout lends itself to owner-occupancy, employee housing, professional offices, retail, vacation accommodations (where permitted), or a variety of commercial uses allowed under NC zoning. An increasingly rare feature in the Upper Keys, this property combines valuable highway frontage with parking, exceptional visibility, and an oceanfront setting. Investors, business owners, and developers will appreciate the property's versatility, while end users may envision transforming it into a distinctive single-family residence with sweeping Atlantic views. Located in one of the Florida Keys' most desirable markets, the property is surrounded by established businesses, restaurants, marinas, resorts, and world-endless fishing and diving destinations. Its strategic location offers convenient access for both locals and visitors traveling throughout the Keys. Whether you're seeking a long-term investment, owner-user opportunity, redevelopment potential, or a signature live-work property, this unique Islamorada offering delivers location, flexibility, visibility, and exceptional upside in one of Florida's most sought-after commercial corridors.
Details
Maps
Contract Information
Listing Board: Florida Keys
Limited Representation: No
Potential Short Sale: No
Bank Owned: No
Current Price: $1,680,000
Listing Date: 2026-07-08
List Price: $1,680,000
Location, Tax & Legal
City: ISLAMORADA
Mile Marker: 74.5
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE,AE
Alternate Key #: 1480584
Parcel #: 00392260-000000
Zoning: NC - Neighborhood Commercial
Legal: BKB LT 8 WHITE MARLIN BEACH SEC-1 PB3-184 LOWER MATECUMBE KEYOR551-321 OR1400-1065/66 OR1400-1067/68 OR2101-2400 OR2943-
Taxes: 7363.07
Tax Year: 2025
Street #: 74450
Street Name: Overseas
Street Suffix: Highway
Key/Island: Lower Matecumbe
State/Province: FL
Zip Code: 33036
Subdivision: White Marlin Bch (74.5)
County: Monroe
Area: 22 - Lower Matecumbe
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 60 X 115
Lot SqFt: 6900
Business Name: na
Total Units: 0
Off Street Parking: yes
# Stories: 2
SqFt Source: Tax Records
Total # Buildings: 1
Building SqFt: 1980
Style: Misc Prop Rights
Living Apx SqFt: 1980
Year Built: 1967
Total Bedrooms: 3
Full Baths: 2
Total Baths: 2
Remarks & Misc
Remarks – Consumer: Prime Islamorada Mixed-Use Investment | Ocean Views | Overseas Highway Frontage
Exceptional mixed-use investment opportunity in the heart of Islamorada. Positioned directly on the Overseas Highway at Mile Marker 74.5, this highly visible Neighborhood Commercial (NC) property offers outstanding exposure, excellent accessibility, and panoramic Atlantic Ocean views.
Originally permitted as a three-unit apartment building, the property is currently configured with two primary residential/commercial spaces, presenting an opportunity for a future owner to explore the potential for a third apartment or additional income-producing space, subject to local approvals. The flexible layout lends itself to owner-occupancy, employee housing, professional offices, retail, vacation accommodations (where permitted), or a variety of commercial uses allowed under NC zoning.
An increasingly rare feature in the Upper Keys, this property combines valuable highway frontage with parking, exceptional visibility, and an oceanfront setting. Investors, business owners, and developers will appreciate the property's versatility, while end users may envision transforming it into a distinctive single-family residence with sweeping Atlantic views.
Located in one of the Florida Keys' most desirable markets, the property is surrounded by established businesses, restaurants, marinas, resorts, and world-endless fishing and diving destinations. Its strategic location offers convenient access for both locals and visitors traveling throughout the Keys.
Whether you're seeking a long-term investment, owner-user opportunity, redevelopment potential, or a signature live-work property, this unique Islamorada offering delivers location, flexibility, visibility, and exceptional upside in one of Florida's most sought-after commercial corridors.
Directions: corner if Gulfview and US1
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Maintenance Fee $: 300
Assoc/Mnt Fee Per: Yearly
Type
Apartment 3 or more: 1
Office Buildings: 1
Other Services: 1
Fee Includes
None: 1
Dockage
None: 1
Appliances
Dryer: 1
Washer: 1
Waterfront
Oceanfront: 1
Open Water: 1
Waterview
Ocean View: 1
Vehicle Storage
Guest Parking: 1
Common Parking: 1
Off Street Parking: 1
Trailer Storage: 1
Construction
CBS: 1
Concrete: 1
Land Size
Less Than 1/4 Acre: 1
Utilities
Buyer to Verify: 1
FKAA: 1
Municipal Sewer: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Status: Active
Property Features
Type: Apartment 3 or more; Office Buildings; Other Services
Waterfront: Oceanfront; Open Water
Waterview: Ocean View
Dockage: None
Vehicle Storage: Common Parking; Guest Parking; Off Street Parking; Trailer Storage
Utilities: Buyer to Verify; FKAA; Municipal Sewer
Appliances: Dryer; Washer
Construction: CBS; Concrete
Land Size: Less Than 1/4 Acre
Fee Includes: None
Listing Office: Realty ONE Group Destination (ISL)
Last Updated: July - 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.