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

    81910 & 81908 Overseas Highway Upper Matecumbe Key Islamorada, FL 33036

    View on Map
    For Sale
    $6,500,000

    Vacant Land - Upper Matecumbe Key Islamorada, FL

    Property size:
    3,995 SF
    Lot size:
    0.70 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 5 at 6:06 pm

    Property Features for 81910 & 81908 Overseas Highway Upper Matecumbe Key

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    VC - Village Center
    Standard status
    Active
    APN
    00399290-000000
    Size
    3,995 SF
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    15880

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jocelyn Tiedemann

    Listing agent Jocelyn Tiedemann License #3112429

    Listing office Ocean Sotheby's International Realty 81888 Overseas Hwy, Islamorada, FL

    Listing date Feb 11, 2026

    MLS# 611386 Listing URL

    Copyright © 2026 Florida Keys 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

    Islamorada Land with Development Potential

    Located in the heart of Islamorada, this property presents a rare investment opportunity. It comprises two Village Center parcels that extend from the highway to the bay. The property currently features a 3,995 sqft restaurant and bar, complete with a 5COP liquor license that has no food quota. Spanning 30,415 sqft, the property's Village Center zoning allows for a variety of uses, including single-family estates, multi-family compounds, luxury townhomes, vacation rentals, restaurants, marinas, and general stores with package sales. The bayfront includes a boat basin with dockage for up to 7 vessels, and there is sufficient depth to construct an additional 100-foot dock. The Village of Islamorada recognizes three waterfront market-rate dwelling units. These three Transferable Development Rights (TDRs) can be used on-site, transferred, or sold. The Village Center Zoning allows for up to 8 market-rate dwelling units to be developed on the site with the transfer of additional TDRs. This property is suited for those looking to rehabilitate an existing business, start a new venture, redevelop the site, or create a residential estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Map

    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.7192
    Latitude
    24.8649

    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
    • $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
    • $2,950,000

      Islamorada Retail Space For Sale

      Prime commercial property with retail space and future expansion potential.
      81900 Overseas Highway, Upper Matecumbe Key Islamorada, 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
    • $1,795,000

      Oceanfront Land in Lower Matecumbe

      Prime oceanfront parcel to build your dream home in Florida Keys.
      75671 Overseas Highway, 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

    FAQs

    What type of property is this?
    Bar & Pub - Unique investment opportunity with multiple development possibilities.
    Where is this bar & pub located?
    The property is located at 81910 & 81908 Overseas Highway Upper Matecumbe Key Islamorada, FL.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Rare Village Center zoning allows for diverse development options.; Includes a valuable 5COP liquor license with no food quota.; Bayfront location with a boat basin providing dockage for 7 vessels, plus potential for a 100' dock.
    (305) 522-3652
    We can help!
    Listing Contact
    Jocelyn Tiedemann
    Real Estate License ID: 3112429
    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!