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    95351 Overseas Highway Key Largo, FL 33037

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    For Sale
    $9,500,000

    Retail - Key Largo, FL

    Type:Retail
    Property size:
    1,137 SF
    Lot size:
    9.36 Acres
    Price / SF:
    $8,355/SF
    Added:
    Apr 15, 2026
    Days on Market:
    23
    Last Refresh:
    May 7 at 6:06 pm

    Property Features for 95351 Overseas Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    SC - Sub Urban Commercial District
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Appliances
    Dryer, Range, Refrigerator
    Standard status
    Active
    APN
    00483350-000000
    Size
    1,137 SF
    Lot size
    9.36 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    36000

    Utilities

    Water front features
    Oceanfront, Waterfront
    Water front
    1

    Building Details

    Year built
    1959
    Floors in Building
    2
    Flooring type
    Tile, Vinyl
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Suzy Wiseman

    Listing agent Suzy Wiseman License #202843

    Listing office Buccaneer R.E. PO Box 1167, Tavernier, FL

    Listing date Apr 15, 2026

    MLS# 579482 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.

    HighLights

    • Oceanfront gated estate with vacation rental income potential and significant development opportunities.
    • 50 Transferable Development Rights available, allowing for higher development potential.
    • Deep basin and channel providing direct ocean access, including dolphin piling boat slips and a boat ramp.
    • Single Family Residences with ROGO exemptions, offering remodel/rebuild possibilities.
    • Highest approval rate via Monroe County for MIXED‑USE COMMERCIAL development.
    • Potential to purchase adjoining 3.2‑acre parcel for a combined 9.36 acres.

    Overview

    Oceanfront Estates with Development Potential

    These adjoining oceanfront gated estates are available individually or together. Each parcel includes a single-family residence with vacation rental income potential. Zoned Suburban Commercial, the properties offer development opportunities. There are 50 Transferable Development Rights (TDRs) available, preliminarily reviewed by Monroe County, potentially allowing for higher development. The wooded acreage features a deep basin and channel providing ocean access, along with dolphin piling boat slips and a boat ramp. The single-family residences have ROGO exemptions for remodel/rebuild possibilities. According to Monroe County, the highest approval rate is for mixed-use commercial development. The 6.1-acre parcel may be sold together with the contiguous 3.2-acre parcel for a grand total of 9.36 acres, including an 1137 square foot CBS home built in 1970 with 2 bedrooms and 1 bathroom and a metal roof.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Key Largo
    County
    Monroe
    State
    Florida
    Longitude
    -80.485114
    Latitude
    25.047982

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    FAQs

    What type of property is this?
    Commercial land - Oceanfront estates with vacation rental income and development opportunities.
    Where is this commercial land located?
    The property is located at 95351 Overseas Highway Key Largo, FL.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: Oceanfront gated estate with vacation rental income potential and significant development opportunities.; 50 Transferable Development Rights available, allowing for higher development potential.; Deep basin and channel providing direct ocean access, including dolphin piling boat slips and a boat ramp.
    (305) 852-9383
    We can help!
    Listing Contact
    Suzy Wiseman
    Real Estate License ID: 202843
    Learn More
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    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.

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