21423 Overseas HwyCudjoe Key, FL 33042

Property Details for 21423 Overseas Hwy

Lot size

1.46 AC

Property type

Other commercial real estate

APN

00175310-000000

APU

175310000000

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $20,641,530

  Hospitality

  $18,907,530

  Educational

  $15,730,844

  Medical

  $16,271,851

  Retail

  $24,470,202

Location Insight

City

Cudjoe Key

County

Monroe

State

Florida

Latitude

24.6679

Longitude

-81.499

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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