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$3,900,000
Marathon, FL 33050
MLS# 620305
4 beds | 5 baths
1 / 16
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
Listing Board: Marathon/Lower Keys
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: Yes
Current Price: $3,900,000
Listing Date: 2026-06-17
List Price: $3,900,000
Location, Tax & Legal
City: MARATHON
Off Shore Island: No
Mile Marker: 54
Marathon Neighborhood: Coco Plum
Side: Ocean
Flood Zone: AE-8
Alternate Key #: 1444740
Add'l Parcel #1: 00100230-000000
Parcel #: 00362660000000
Add'l Parcel #2: 00362670-000000
Zoning: MU - Mixed Use Commercial Mixed Use
Legal: LOT 2 DRIFTWOOD ESTATES PB2-132 FAT DEER KEY, LOT 3 DRIFTWOOD ESTATES PB2-132 FAT DEER KEY, 4 66 33 BAY BOTTOM SOUTH AND
Taxes: 22546.24
Tax Year: 2025
Street #: 13759
Street Name: Overseas
Street Suffix: Highway
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
Subdivision: Driftwood Estates (54.0)
County: Monroe
Area: 18 - East of Holiday Inn US #1 & Coco Plum
General Property Description
Realtor.COM Type: Commercial
Waterfront: Yes
Control Depth: 4
Lot Size: X
Lot SqFt: 160800
SqFt Source: Property Data Card
Total # Buildings: 3
Style: Commercial
Year Built: 1950
Total Bedrooms: 4
Full Baths: 4
Half Baths: 1
Total Baths: 5
Remarks & Misc
Remarks – Consumer: 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.
Directions: From Overseas Hwy/US-1, proceed to MM 54 in Marathon. Use the nearby entrance at 13755 Overseas Hwy to access the property area, then follow through to 13759 Overseas Hwy.
Deed Restrictions
No: 1
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Other Services: 1
Fee Includes
None: 1
Dockage
Dock Length: 150
Dock: Wood
Appliances
Range: 1
Refrigerator: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Wall/Window Unit(s): 1
Waterfront
Open Water: 1
Waterview
Ocean View: 1
Vehicle Storage
Guest Parking: 1
Off Street Parking: 1
Construction
CBS: 1
Land Size
2 Less Than 5 Acres: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Miscellaneous
Fencing: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Status: Active
Property Features
Deed Restrictions: No
Type: Other Services
Waterfront: Open Water
Waterview: Ocean 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
Miscellaneous: Fencing
Construction: CBS
Land Size: 2 Less Than 5 Acres
Fee Includes: None
Listing Office: Coldwell Banker Schmitt Real Estate Co.
Last Updated: June - 17 - 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.