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    21423 Overseas Hwy Summerland Key, FL 33042

    For Sale
    $1,574,000

    Commercial Sale - CUDJOE KEY, FL

    Lot size:
    0.50 Acres
    Days on Market:
    128
    Last Refresh:
    Dec 5 at 4:06 am

    Property Features for 21423 Overseas Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.50 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1980
    Architectural style
    Other

    Exp Realty LLC (888) 883-8509 [email protected]

    Listing agent Infinity Rydzak, PA (888) 883-8509

    Listing date Jul 31, 2025

    MLS# 225065378 Listing URL

    Copyright © 2025 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Commercial Land with Income

    This commercial property, located in the heart of the Lower Keys and just 20 minutes from Key West, offers high visibility and waterfront views. The 0.5-acre site features two driveways, RV hookups, storage units, and utilities including water, sewer, and power. A legal billboard-style signage is present on US 1. The property benefits from clear water views on the north side, unobstructed by neighboring structures. SC zoning permits a range of commercial uses, such as construction staging, a contractor yard, a retail center, marine services, a gift shop, a medical office, live/work units, or an outdoor event venue. There is potential for affordable housing development with a possibility of 18 units per acre, pending verification with Monroe County. Currently, the property generates $108,000 annually in rental income. It is suitable for a 1031 exchange or long-term investors. The property is ideal for a destination restaurant, waterfront bar, or food truck park. It offers a combination of privacy, accessibility, and waterfront charm, with ample parking and water access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    T Ryan Contracting ... Roofing Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Wholesale Shop Hair Salon Nail Salon Gym & Fitness Hotel & Motel Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Summerland Key
    County
    Monroe
    State
    Florida
    Longitude
    -81.4993581
    Latitude
    24.6672823

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    FAQs

    What type of property is this?
    Restaurant - High-visibility commercial land with existing income near Key West.
    Where is this restaurant located?
    The property is located at 21423 Overseas Hwy Summerland Key, FL.
    What is the asking price?
    The asking price for this property is $1,574,000.
    What are key features of this property?
    This property features: - Currently producing $108,000 annually in rental income.; - SC zoning allows for a wide array of commercial uses.; - Waterfront property with crystal-clear water views on the north side.
    (888) 883-8509
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    21423 Overseas Hwy Summerland Key, FL 33042
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    Realmo Value Estimation

    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

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    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.

    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
    21423 Overseas Hwy Summerland Key, FL 33042
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