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$1,499,000
Marathon, FL 33050
MLS# 621728
4 beds | 5 baths | 3017 sqft
1 / 7
Property Description
A compelling investment and redevelopment opportunity in the heart of Marathon, this multi-family property offers immediate use along with significant long-term potential in one of the Florida Keys' most active markets. Fronting Overseas Highway with excellent visibility and convenient access, the property includes two concrete block buildings. One structure is configured as a three-bedroom, two-bath residence, while the second is arranged as a duplex with two efficiency studio units, each with a private bath. The property includes three residential property rights, creating flexibility for continued income-producing use or future redevelopment. For investors and developers, the location and existing configuration open the door to a variety of possibilities, whether the goal is to maintain the current multi-family setup, reposition the site, or pursue a larger development strategy. An additional opportunity exists to acquire the adjacent parcel along with submerged land rights, allowing a buyer to assemble a larger contiguous footprint and expand the potential of the overall site. Both properties are offered together under MLS number 620305. With its central Marathon location, direct Overseas Highway access, established residential use, and added development upside, this property presents a rare chance to secure a versatile piece of the Florida Keys market.
Details
Maps
Contract Information
Listing Board: Marathon/Lower Keys
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Current Price: $1,499,000
Listing Date: 2026-10-21
List Price: $1,499,000
Location, Tax & Legal
City: MARATHON
Off Shore Island: No
Mile Marker: 54
Marathon Neighborhood: Coco Plum
Senior Community YN: No
Side: Ocean
Alternate Key #: 1444740
Parcel #: 00362660000000
Zoning: MU - Mixed Use Commercial Mixed Use
Deed Restrictions: Unknown
Legal: Lot 2 Driftwood Estates Pb2-132 Fat Deer Key
Taxes: 13892.54
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 13755
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
Waterfront: Yes
Control Depth: 4
Lot SqFt: 39500
Pool: No
Lot Sqft Source: Property Data Card
Acres: 1.36
SqFt Source: Property Data Card
Rentals Allowed: Yes
Min Rental Days: 7
Style: Multi-Units
Year Built: 1973
Living Apx SqFt: 3017
Total Bedrooms: 4
Full Baths: 4
Half Baths: 1
Total Baths: 5
Remarks & Misc
Remarks – Consumer: A compelling investment and redevelopment opportunity in the heart of Marathon, this multi-family property offers immediate use along with significant long-term potential in one of the Florida Keys' most active markets.
Fronting Overseas Highway with excellent visibility and convenient access, the property includes two concrete block buildings. One structure is configured as a three-bedroom, two-bath residence, while the second is arranged as a duplex with two efficiency studio units, each with a private bath. The property includes three residential property rights, creating flexibility for continued income-producing use or future redevelopment.
For investors and developers, the location and existing configuration open the door to a variety of possibilities, whether the goal is to maintain the current multi-family setup, reposition the site, or pursue a larger development strategy.
An additional opportunity exists to acquire the adjacent parcel along with submerged land rights, allowing a buyer to assemble a larger contiguous footprint and expand the potential of the overall site. Both properties are offered together under MLS number 620305.
With its central Marathon location, direct Overseas Highway access, established residential use, and added development upside, this property presents a rare chance to secure a versatile piece of the Florida Keys market.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
Fee Includes
None: 1
Dockage
Dock Privileges: 1
Tax Exemptions
Homestead: 1
Appliances
Oven: 1
Range: 1
Refrigerator: 1
Pets
Pets Allowed: 1
Cooling
Ceiling Fans(s): 1
Wall/Window Unit(s): 1
Waterfront
Lake Front: 1
Open Water: 1
Waterview
Harbor/Marina View: 1
Lake View: 1
Open Water View: 1
Neighborhood Feature
Airstrip: 1
Bike Paths: 1
Community Boat Ramp: 1
Property Condition
Fixer Upper: 1
Building Style
Above Flood: No
Vehicle Storage
Car(s): 4+
Guest Parking: 1
Open Parking: 1
RV Parking Open: 1
Off Street Parking: 1
Trailer Storage: 1
Construction
Concrete: 1
Land Size
1 Less Than 2 Acres: 1
Furnished
Unfurnished: 1
Utilities
Elect Separate Meter: 1
FKAA: 1
Municipal Sewer: 1
Water Separate Meter: 1
Roof
Tar/Gravel Roof: 1
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: Lake Front; Open Water
Waterview: Harbor/Marina View; Lake View; Open Water View
Dockage: Dock Privileges
Property Condition: Fixer Upper
Vehicle Storage: Guest Parking; Off Street Parking; Open Parking; RV Parking Open; Trailer Storage
Furnished: Unfurnished
Cooling: Ceiling Fans(s); Wall/Window Unit(s)
Utilities: Elect Separate Meter; FKAA; Municipal Sewer; Water Separate Meter
Appliances: Oven; Range; Refrigerator
Construction: Concrete
Roof: Tar/Gravel Roof
Pets: Pets Allowed
Neighborhood Feature: Airstrip; Bike Paths; Community Boat Ramp
Land Size: 1 Less Than 2 Acres
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: October - 22 - 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.