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$6,995,000
Upper Matecumbe Key Islamorada, FL 33036
MLS# 611386
1 / 23
Property Description
Once in a lifetime investment in the heart of Islamorada. This exceptional property offers a wide range of potential uses as it includes two Village Center parcels stretching from Highway to Bay, currently featuring a spacious 3,995 sqft restaurant and bar with a coveted 5COP liquor license - no food quota. Village Center zoning allows for multiple use opportunities including, but not limited to, single family estate, multi family compound, luxury townhomes, vacation rentals, restaurants, marinas, general store with package sales, and much more. The property spans 30,415 sqft. Includes a Bayfront boat basin, providing dockage for up to 7 vessels and there is adequate depth for an additional 100' dock to be constructed. The Village of Islamorada officially recognizes three waterfront market-rate dwelling units . The three waterfront Transferable Development Rights (TDRs) can be utilized onsite, transferred to another location, or sold to a receiver site. The Village Center Zoning would allow up to 8 market-rate dwelling units to be developed on site for a new luxury townhome community, with the transfer in of additional TDRs. Whether you're looking to rehab a local iconic business, start a new business, redevelop the entire site, or create a spectacular residential estate, this unicorn property is perfectly located. ***Buyer to verify ALL information.***
Details
Maps
Documents
Contract Information
Current Price: $6,995,000
Listing Date: 2024-09-07
Listing Board: Florida Keys
List Price: $6,995,000
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Location Tax Legal
Street #: 81910
Street Name: & 81908 Overseas
Street Suffix: Highway
Key/Island: Upper Matecumbe Key Islamorada
State/Province: FL
Zip Code: 33036
County: Monroe
Subdivision: Strattons (82.5)
Area: 23 - Upper Matecumbe
General Property Description
Realtor.COM Type: Vacant Land
Waterfront: Yes
Control Depth: 4
Lot SqFt: 30415
Lot Sqft Source: Property Data Card
Total Lots: 2
Survey Available: Yes
Vegetation Survey: No
Wtr Mn Inquiry File: Yes
Status Change Info
Status: Active
Miscellaneous Info
Mobile Home Lot: No
Dockage
Seawall: Concrete
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Tax Exemptions: None
Waterfront: Bay Front; Open Water
Dockage: Basin
Waterview: Bay View; Open Water View
Existing Utilities: Electric on Site; Sewer; Water Line; Water Meter
BuildingPermit: Active Permit
Land Size: More than 1 Lot; 1/2 - Less Than 1 AC
Terms: Buyer Obtain Finance
Property Rights: Beverage License; Misc Property Rights; Multi-Use/Commercial; Tranfrble Dev Right
81910 Overseas Hwy Survey 
Listing Office: Island Equity Real Estate
Last Updated: March - 10 - 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.