21423 Overseas Hwy Cudjoe Key, FL 33042-3171

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.