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    Beachfront Multifamily Investment Opportunity Title is generated by Realmo AI

    65620 Overseas Highway, Long Key, FL 33001

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    Claim this Listing
    For Sale
    $3,899,000

    MULTI_FAMILY - Long Key, FL

    Property size:
    1,647 SF
    Lot size:
    0.62 Acres
    Price / SF:
    $2,367/SF
    Added:
    Sep 3, 2025
    Days on Market:
    262
    Last Refresh:
    May 22 at 4:06 pm

    Property Features for 65620 Overseas Highway

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    ISD - Improved Sup Duplex
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3
    Security features
    Security
    Patio and Porch features
    Porch, Patio
    Pets allowed
    Yes
    Interior features
    Built-in Cabinets, Granite Counter Top
    Exterior features
    Chickee Hut, Sandy Beach, Shed
    Appliances
    Washer, Dryer, Dishwasher, Refrigerator, Oven, Microwave
    Standard status
    Active
    Size
    1,647 SF
    Lot size
    0.62 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PT LT 2 LONG KEY OCEAN BAY COLONY PB3-130 SEC 1 LONG KEY
    Tax Annual Amount
    9883

    Utilities

    Water front features
    Ocean Front
    Water front
    1

    Building Details

    Year built
    1972
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Frame, Combo Construction
    Roof type
    Metal

    We can help!

    Listing Contact
    Walters Luxury Group Gloria, Rachel and Michaela Walters

    Listing agent Walters Luxury Group Gloria, Rachel and Michaela Walters License #662034_1

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

    Listing date Sep 3, 2025

    MLS# 616369 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

    • Income‑producing beachfront duplex with 221' of private white sandy beach, ideal for vacation rentals.
    • Enjoy unobstructed Atlantic Ocean views with both sunrise and sunset vistas.
    • Located at the southern tip of Long Key, near Long Key State Park and the renowned Viaduct Tarpon fishery.
    • Historically significant property, the former site of Henry Flagler's Long Key Fishing Camp, once home to Zane Grey.
    • Tranquil, shallow waters perfect for snorkeling, fishing, and relaxation.
    • Multiple tiki huts provide shaded beachside retreats.

    Overview

    This income-producing multifamily home, known as the iconic ''Long Key Fish Camp'', is situated on a private beach in the Florida Keys, offering 221 feet of white sandy beach. Located at the southern tip of Long Key, the property provides unobstructed views of the Atlantic Ocean, with both sunrise and sunset vistas. The duplex features four bedrooms and two bathrooms, designed as a fish camp. Currently operated as a successful vacation rental property with nightly rentals, it presents an opportunity for investors with owner financing. Outdoor and fishing enthusiasts will appreciate the proximity to Long Key State Park and the Viaduct, a top Tarpon fishery. The shallow waters are suitable for snorkeling, fishing, and relaxation. Tiki huts along the beach offer shaded retreats. The property occupies the former site of Henry Flagler's original Long Key Fishing Camp, where Zane Grey once lived and wrote in the early 1900s. The camp initially served tourists seeking fishing and lodged railroad workers constructing the Overseas Railroad to Key West. The property size is 1,647 square feet and the lot size is 0.62 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Long Key
    County
    Monroe
    State
    Florida
    Longitude
    -80.848263
    Latitude
    24.803349

    FAQs

    What type of property is this?
    Short term rental property - Iconic beachfront multifamily property with income potential in Long Key.
    Where is this short term rental property located?
    The property is located at 65620 Overseas Highway Long Key, FL.
    What is the asking price?
    The asking price for this property is $3,899,000.
    What are key features of this property?
    This property features: Income‑producing beachfront duplex with **221' of private white sandy beach**, ideal for vacation rentals.; Enjoy **unobstructed Atlantic Ocean views** with both sunrise and sunset vistas.; Located at the southern tip of Long Key, near Long Key State Park and the renowned Viaduct Tarpon fishery.
    (305) 942-6834
    We can help!
    Listing Contact
    Walters Luxury Group Gloria, Rachel and Michaela Walters
    Real Estate License ID: 662034_1
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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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