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    21423 Overseas Hwy Cudjoe Key, FL 33042

    For Sale
    $1,395,000

    High-yield, 3+ acre Overseas Hwy property.

    Property size:
    1,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 3+ acre commercial property, located at 21423 Overseas Highway in Cudjoe Key, Florida (33042), presents a rare redevelopment opportunity. The 1,250 square foot, single-story, Class B building, constructed in 1980, sits on a 1-3 acre lot and currently generates $9,000 in monthly income from a 100% occupied, multi-tenant lease. The property is zoned commercial, although Monroe County encourages redevelopment into workforce housing. The asking price is $1,395,000, translating to $1,116 per square foot. This is a gross lease arrangement with zero loading docks. The property features a prime corner lot location offering excellent visibility and accessibility from Overseas Highway. The seller is open to financing options. This mixed-use property (Retail, Multifamily, Industrial) currently functions as outside storage, offering immediate income potential while redevelopment plans are considered. The property's strategic location and existing income stream make it an attractive investment opportunity for value-add strategies.

    Property Features for 21423 Overseas Hwy

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,250 SF
    Class
    B
    Lot Size
    43,560 SF

    Building Details

    Year Built
    1980
    Buildings
    1
    Stories
    1

    HighLights

    • High‑visibility corner lot with excellent street access.
    • $9,000 monthly net operating income (NOI).
    • Seller financing available.
    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
    Cudjoe Key
    County
    Monroe
    State
    Florida
    Longitude
    -81.4993581
    Latitude
    24.6672823

    Nearby Comparable

    • $1,574,000
      0.50 Acres

      Waterfront Commercial Land with Income

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      21423 Overseas Hwy, Summerland Key, FL 33042
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      Cudjoe Key Commercial Gem

      Prime commercial property with income potential in Cudjoe Key, FL.
      21423 Overseas Hwy, Sugarloaf, FL 33042
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      Cudjoe Key Commercial Building Space

      Three-story commercial building with office and retail space for sale.
      21460 Overseas Hwy, Summerland Key, FL 33042
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      Cudjoe Key Commercial Building

      Three-story commercial building on US Hwy 1 in Cudjoe Key.
      21460 Overseas Hwy, Summerland Key, FL 33042
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    • $999,000

      Waterfront Land with Approved Plans

      Oversized corner lot with approved plans and water frontage.
      21082 6Th Ave, Cudjoe Key, FL 33042
      View Details

    Nearby Similar for Sale

    • $600,000

      Oceanfront Lot in Gated Community

      Buildable, RV-ready lot with deep water access and vacation rental history.
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    FAQs

    What type of property is this?
    Multifamily property - High-yield, 3+ acre Overseas Hwy property.
    Where is this multifamily property located?
    The property is located at 21423 Overseas Hwy Cudjoe Key, FL.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: High-visibility corner lot with excellent street access.; $9,000 monthly net operating income (NOI).; Seller financing available.
    Request Owner's contact information
    21423 Overseas Hwy Cudjoe 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

    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.

    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 Cudjoe Key, FL 33042
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