Description
Prime commercial property and investment opportunity! An exceptional multi-faceted real estate opportunity the the heart of the Florida Keys. Positioned directly on Overseas Highway with prime frontage, 24171 Overseas Highway consists of two contiguous parcels offering immediate cash flow combined with tremendous future development potential. Whether you are looking to hold a strong income-generating asset or immediately capitalize on aggressive redevelopment incentives, this property delivers on both fronts. Key highlights and value drivers: 1. Immediate revenue stream: Turnkey restaurant and offices with solid existing leases in place. Collect strong passive income from day one while finalizing design, architectural or permitting plans. Suburban commercial (SC) zoning. 2. Live Local Act authorization: Authorized under Florida's Live Local Act, unlocking unprecedented density, floor area ratio (FAR) and height allowances for mixed-use or affordable/workforce residential development. 3. Unmatched visibility and location: Direct highway exposure along the primary artery connecting Key West to the Middle Keys, capturing continuous tourist traffic and serving the local community 4. Development and investment potential: Enjoy stable rental yields from established commercial tenants while holding the land for long-term appreciation or future phase expansion
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0BEDS
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0.65ACRES
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0BATHS
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31/2 BATHS
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1,998SQFT
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$801$/SQFT
School Ratings & Info
Description
Prime commercial property and investment opportunity! An exceptional multi-faceted real estate opportunity the the heart of the Florida Keys. Positioned directly on Overseas Highway with prime frontage, 24171 Overseas Highway consists of two contiguous parcels offering immediate cash flow combined with tremendous future development potential. Whether you are looking to hold a strong income-generating asset or immediately capitalize on aggressive redevelopment incentives, this property delivers on both fronts. Key highlights and value drivers: 1. Immediate revenue stream: Turnkey restaurant and offices with solid existing leases in place. Collect strong passive income from day one while finalizing design, architectural or permitting plans. Suburban commercial (SC) zoning. 2. Live Local Act authorization: Authorized under Florida's Live Local Act, unlocking unprecedented density, floor area ratio (FAR) and height allowances for mixed-use or affordable/workforce residential development. 3. Unmatched visibility and location: Direct highway exposure along the primary artery connecting Key West to the Middle Keys, capturing continuous tourist traffic and serving the local community 4. Development and investment potential: Enjoy stable rental yields from established commercial tenants while holding the land for long-term appreciation or future phase expansion
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.