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88900 Overseas Highway

Plantation Key, FL 33070
  • $2,499,000
  • STATUS: Active
  • ON SITE: 28 Days
  • MLS #: 598287
UPDATED: 18 min ago
$2,499,000
  • 4
    BEDS
  • 0.45
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 4,506
    SQFT
  • $555
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1953
County:

School Ratings & Info

Description

This is a great redevelopment opportunity in the Florida Keys! Don't miss your chance to remodel & develop a (15) unit multi-family affordable housing complex in the Florida Keys! Perfect for much-needed employee housing. Currently offers (4) market-rate apartments and (1) retail commercial space. The property is currently 100% rented and stabilized. The current rent roll is approx. $8,550 month. The owner intends to convert and remodel this parcel to a (15) unit multi-family with a projected gross income of over $20,700 per month. The owner has been tied up in other larger projects and is interested in passing along this investment opportunity to the right buyer or developer. Property packet with proposed plans available upon request with signed confidentiality agreement.

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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.
www.keywestluxuryrealestateinc.com/homes/122911756
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88900 Overseas Highway Plantation Key, FL 33070

  • Price: $2,499,000
  • Status: Active
  • On Site: 28 Days
  • Updated: 18 min ago
  • MLS #: 598287
4
Beds
4
Baths
0
½ Baths
0.45
Acres
4,506
SQFT
$555
$/SQFT
1953
Built
Neighborhood:
Randall Adams (89.0)
County:
Monroe
Area:
25 - Plantation Key
Property Description
This is a great redevelopment opportunity in the Florida Keys! Don't miss your chance to remodel & develop a (15) unit multi-family affordable housing complex in the Florida Keys! Perfect for much-needed employee housing. Currently offers (4) market-rate apartments and (1) retail commercial space. The property is currently 100% rented and stabilized. The current rent roll is approx. $8,550 month. The owner intends to convert and remodel this parcel to a (15) unit multi-family with a projected gross income of over $20,700 per month. The owner has been tied up in other larger projects and is interested in passing along this investment opportunity to the right buyer or developer. Property packet with proposed plans available upon request with signed confidentiality agreement.
Exterior Features

Construction CbsConcrete Dockage None Land Size 1/4 - 1/2 Acre Lot Size See Survey Docs Miscellaneous High VisibilityHighway FrontageOverhead Doors Off Street Parking Yes Roof Concrete RoofShingle Roof Side Bay/Gulf Style Commercial Vehicle Storage Off Street Parking Waterfront None Waterfront YN No Waterview No Waterview

Interior Features

Appliances DishwasherDryerRangeRefrigeratorWasher Floor Tile Floor Net Leasable Area 1434.00

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No City Tavernier Commercial Type Apartment 3 Or MoreRetail Control Depth 0 Fee Includes Other Fema List No Flood Zone AeAe Listing Board Florida Keys Mile Marker 89.00 Off Shore Island No Potential Short Sale No Potential Short Sale Financial Status No Property Type Multi-Family Sq Ft Source Tax Records Tax Year 2020 Taxes 10963.40 Title Title Ins - Buyer Total Units 0.00 Utilities FkaaMunicipal Sewer Zoning Hc - Highway Commercial

Listing courtesy of Gregory Dully of Re/Max All Keys Real Estate.


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.
 
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Key West Luxury Real Estate Inc
619 Eaton Street, #2
Key West FL, 33040