Add Listing
    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

    77481 Overseas Hwy Islamorada, FL 33036

    View on Map
    Claim this Listing
    For Sale
    $2,699,000

    Residential - Islamorada, FL

    Lot size:
    0.56 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    9
    Last Refresh:
    Apr 15 at 11:06 pm

    Property Features for 77481 Overseas Hwy

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SC
    Standard status
    Active
    APN
    00397120-000000
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11969

    Utilities

    Water source
    Public

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alin Zdroba

    Listing agent Alin Zdroba License #3257641

    Listing office Propertio 390 NE 191st St, Miami, FL

    Listing date Apr 7, 2026

    MLS# A11996371 Listing URL

    Copyright © 2026 Miami 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

    Islamorada Waterfront Land Opportunity

    This property is located in Islamorada and offers a rare opportunity to own a piece of paradise. The land is situated in a desirable area, surrounded by multi-million-dollar homes and directly across from Robbie’s. It features 100 feet by 244 feet of private beach/oceanfront with direct views of Alligator Reef and crystal-clear waters, protected by a natural reef. The property comes with permits for an astonishing home and includes a dock with a tiki hut. The lot size is 0.56 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Grocery & Convenience Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.6919778
    Latitude
    24.8809463

    Nearby Similar for Sale

    • $2,200,000
      4,942 SF

      81901 Overseas Hwy, Islamorada, FL, 33036-3647

      Prime commercial opportunity in Islamorada with high visibility and flexible zoning.
      81901 Overseas Hwy, Islamorada, FL 33036
      View Details
    • $3,900,000

      Waterfront Commercial Asset with Redevelopment Potential

      Waterfront commercial property with multiple revenue paths and redevelopment potential.
      74560 Overseas Highway, Lower Matecumbe, FL 33036
      View Details
    • $6,995,000
      1,219 SF

      200 Treasure Harbor Dr, Islamorada, FL, 33036-3136

      Profitable marina and resort in Islamorada, FL with significant income.
      200 Treasure Harbor Dr, Islamorada, FL 33036
      View Details
    • $3,524,000
      3,524 SF

      Waterfront Compound with Income Potential

      Luxury multi-family compound with income potential in Lower Matecumbe, FL.
      110 Gulfview Drive, Lower Matecumbe, FL 33036
      View Details
    • $18,000,000

      Islamorada Restaurant & Cabana Bar

      Iconic restaurant and bar with bayfront and highway frontage.
      96 Madeira Road, Upper Matecumbe Key Islamorada, FL 33036
      View Details
    • $1,795,000

      Oceanfront Land in Lower Matecumbe

      Prime oceanfront parcel to build your dream home in Florida.
      75671 Overseas Highway, Lower Matecumbe, FL 33036
      View Details
    • $2,200,000

      Islamorada Restaurant with Liquor License

      Turnkey restaurant opportunity with high visibility and flexible zoning.
      81901 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036
      View Details
    • $4,600,000

      Versatile Mixed-Use Commercial Property

      Rare opportunity in Islamorada's established business corridor.
      105 Palm Avenue, Upper Matecumbe Key Islamorada, FL 33036
      View Details
    • $6,495,000

      Oceanfront Land with Redevelopment Potential

      200' oceanfront property with redevelopment possibilities in Lower Matecumbe, FL.
      75131 Overseas Highway, Lower Matecumbe, FL 33036
      View Details
    • $880,000

      Canal-Front Vacant Land Opportunity

      Cleared land with permit ready for immediate construction.
      149 Iroquois Drive, Lower Matecumbe, FL 33036
      View Details
    • $1,075,000

      Waterfront Lot with Active Permits

      Waterfront lot in Islamorada with active building and dock permits.
      142 Gulfview Drive, Lower Matecumbe, FL 33036
      View Details
    • $6,500,000

      Islamorada Land with Development Potential

      Unique investment opportunity with multiple development possibilities.
      81910 & 81908 Overseas Highway, Upper Matecumbe Key Islamorada, FL 33036
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Rare oceanfront land with permits for an astonishing home.
    Where is this waterfront land located?
    The property is located at 77481 Overseas Hwy Islamorada, FL.
    What is the asking price?
    The asking price for this property is $2,699,000.
    What are key features of this property?
    This property features: 100 feet of private beach/oceanfront with direct views of Alligator Reef.; Located in the most desired area of Islamorada, surrounded by multi‑million‑dollar homes.; Permits already in place for building a home.
    (888) 817-3383
    We can help!
    Listing Contact
    Alin Zdroba
    Real Estate License ID: 3257641
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!