Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15 Osprey Ln Key Largo, FL 33037

    Sponsored
    For Sale
    $7,100,000

    Vacant Lot - Key Largo, FL

    Lot size:
    31,000.00 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 25 at 3:06 am

    Property Features for 15 Osprey Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    00569446-001700
    Lot size
    31,000.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Ecuyer

    Swenson & Ecuyer Realty, Inc. (305) 367-3600

    Listing agent Robert Ecuyer (305) 367-3600

    Listing date Jan 13, 2026

    MLS# 2911 Listing URL

    Copyright © 2026 Central Listing Service at Ocean Reef. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterfront Lot in Key Largo

    This expansive 31,000 square-foot vacant lot presents a rare opportunity to create a custom waterfront residence. It is located in one of Ocean Reef Club's most desirable neighborhoods. The property is ideally positioned off Sunrise Cay, offering exceptional privacy and tranquil canal views with stunning sunset exposures. It includes private dockage accommodating vessels up to 30 feet, providing convenient ocean and bay access. Fully approved architectural plans by the renowned firm Stofft Cooney are thoughtfully designed to include seven bedrooms, an additional bunk room, private office, club room, elevator, chef's kitchen with butler's pantry, and a two-car garage. A separate guest house with kitchenette is also included in the plans. The generous lot allows ample space for a pool and outdoor living areas, presenting a turnkey opportunity to build a world-class Ocean Reef estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm Auto Repair Shop Clothing Store Gym & Fitness Kitchen & Bath Electrical Service Furniture Store Women's Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.261106
    Latitude
    25.32713

    Nearby Similar for Sale

    • $2,600,000
      2,485 SF

      Canal Front Duplex with Ocean Views

      Legal duplex with ocean views, waterfront access, and rental potential.
      139 Marina Ave, Key Largo, FL 33037
      View Details
    • New
      $1,790,000

      Key Largo Mixed-Use Property

      High-visibility mixed-use property with commercial storefront and residential apartment.
      100636 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $4,900,000

      Iconic Waterfront Restaurant and Bar

      Legendary waterfront restaurant/bar with long-term lease in Key Largo, FL.
      58000 Card Sound Rd, Key Largo, FL 33037
      View Details
    • $750,000
      2,197 SF

      Key Largo Multi-Unit Investment Property

      Multi-unit property with vacant lot near Tavernier park.
      185 Dove Lk Dr, Key Largo, FL 33070
      View Details
    • New
      $15,000,000

      Turnkey Inn & Hospitality Investment

      Income-producing inn in Key Largo with development potential.
      99202 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $2,395,000
      1,716 SF

      Oceanfront Duplex with Rental Potential

      Oceanfront duplex with deepwater dockage and nightly rental approval.
      127 Seaside Ave, Key Largo, FL 33037
      View Details
    • Contact for pricing

      Key Largo Commercial Space Available

      5,457 sqft commercial space in Key Largo for lease.
      99451 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $5,400,000

      Key Largo Oceanside Commercial Building

      Commercial building with deep water dockage and direct ocean access.
      522 Caribbean Dr, Key Largo, FL 33037
      View Details
    • $13,775,000

      Key Largo Boutique Hotel For Sale

      21-room boutique hotel on nearly 3 acres in Key Largo.
      000 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $2,995,000

      Key Largo Commercial Real Estate Opportunity

      Commercial property with dual exposure in Key Largo, Florida.
      98250 Overseas Hwy, Key Largo, FL 33037
      View Details
    • $2,995,000

      Mixed-Use Commercial Building For Sale

      Mixed-use commercial building with US 1 visibility in Tavernier.
      92295 Old State Rd, Key Largo, FL 33070
      View Details
    • $829,000
      1,496 SF

      Updated Duplex Near Oceanfront Park

      Legal duplex near Harry Harris Park, updated interiors, strong rental income.
      102 Harry Harris Dr, Key Largo, FL 33070
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Expansive waterfront lot with approved plans for custom residence.
    Where is this residential land & home lot located?
    The property is located at 15 Osprey Ln Key Largo, FL.
    What is the asking price?
    The asking price for this property is $7,100,000.
    What are key features of this property?
    This property features: - Expansive 31,000 sq ft waterfront lot in a desirable Ocean Reef Club neighborhood.; - Includes private dockage accommodating vessels up to 30 feet with convenient ocean/bay access.; - Fully approved architectural plans by Stofft Cooney for a substantial residence.
    (305) 367-3600
    Request Owner's contact information
    15 Osprey Ln Key Largo, FL 33037
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15 Osprey Ln
    Key Largo, FL 33037
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15 Osprey Ln Key Largo, FL 33037
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Ecuyer
    (305) 367-3600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.