26450 Overseas Hwy Summerland Key, FL 33042

This exceptional 186-acre property in Ramrod Key, Florida, presents a unique redevelopment opportunity. Located at mile marker 26 on Overseas Highway, just 24 miles from Key West Airport, this prime site boasts over 1.5 miles of water frontage, the deepest boat basin (over 20 feet) between Key West and Marathon, and the tallest bridge clearance (38 feet) in the same area. Direct access to the Atlantic Ocean and Niles Channel, coupled with almost half a mile of Overseas Highway frontage, ensures high visibility and accessibility. Comprehensive zoning and entitlement due diligence is complete, including a Letter of Understanding (LOU) outlining development for 93,000 square feet of floor area and up to 9 homes, with the first Rate of Growth Ordinance (ROGO) already approved. Environmental studies and surveys confirm the land's suitability for development. While the property includes more dwelling units than can be built due to clearing limitations, there is sufficient usable land, and additional ROGO points can be pursued. Potential tax benefits from dedication or conservation easements further enhance the investment appeal. This is the largest single connected developable tract in the Florida Keys, offering an unparalleled chance to develop in this highly desirable location. The asking price is $14,990,000, with a land value of $80,591 per acre. The total square footage is 8,102,160. The property is classified as Class A Mixed Use, Land, and Special Purpose. Sunset Reef LLC is the current owner.