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76800 Overseas Highway

Lower Matecumbe, FL 33036
  • $2,950,000
  • STATUS: Active
  • ON SITE: 239 Days
  • MLS #: 605899
UPDATED: 17 min ago
$2,950,000
  • 1
    BEDS
  • 3.2
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1994
County:

School Ratings & Info

Description

Land Use Attorney has stated:Islamorada Tennis Club 76800 Overseas Hwy, Lower Matecumbe Key, Islamorada, FL 33036 Parcel#:00396950-000200The Property is approximately 3.2 Acres. 1 Acre is classified as environmentally sensitive. The Property is categorized within the Future Land Use Map (FLUM) as Mixed Use (MU) and is within the Village Center (VC) Zoning District.1.What is the maximum buildable square footage left on this property based off previous development orders?VC allows a floor area ratio (FAR) of 0.35. According to a 2017 pre-application letter prepared by the Village of Islamorada 33,492 sf is recognized as buildable. 33,492 x 0.35=11,722 sf max FAR, 11,722-8,130=3,592 sf of FAR remaining. Code allows up to a 10,000 sf building. Storage must be in a standalone building if the existing building is to be re-purposed.2.Can this property be converted to affordable housing with commercial?Yes. The optimal layout would be first floor commercial with deed restricted affordable housing as a second, and possible third floor use.3.How many affordable housing units can be placed on the property?Depends on the layout. A minimum of 25 units (LDC Sec.30-692(b)(3)). Also look to the newly adopted 'Live Local Act' for additional entitlements in Florida Statutes.The seller says there might be a possibility of up to 45 units but the buyer must confirm with the Village of Islamorada.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than KeyIsle Realty are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.keyislerealty.com/homes/141289659
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76800 Overseas Highway Lower Matecumbe, FL 33036

  • Price: $2,950,000
  • Status: Active
  • On Site: 239 Days
  • Updated: 17 min ago
  • MLS #: 605899
1
Beds
2
Baths
0
½ Baths
3.2
Acres
1994
Built
Neighborhood:
Mat Ocean Bay (75.0)
County:
Monroe
Area:
22 - Lower Matecumbe
Property Description
Land Use Attorney has stated:Islamorada Tennis Club 76800 Overseas Hwy, Lower Matecumbe Key, Islamorada, FL 33036 Parcel#:00396950-000200The Property is approximately 3.2 Acres. 1 Acre is classified as environmentally sensitive. The Property is categorized within the Future Land Use Map (FLUM) as Mixed Use (MU) and is within the Village Center (VC) Zoning District.1.What is the maximum buildable square footage left on this property based off previous development orders?VC allows a floor area ratio (FAR) of 0.35. According to a 2017 pre-application letter prepared by the Village of Islamorada 33,492 sf is recognized as buildable. 33,492 x 0.35=11,722 sf max FAR, 11,722-8,130=3,592 sf of FAR remaining. Code allows up to a 10,000 sf building. Storage must be in a standalone building if the existing building is to be re-purposed.2.Can this property be converted to affordable housing with commercial?Yes. The optimal layout would be first floor commercial with deed restricted affordable housing as a second, and possible third floor use.3.How many affordable housing units can be placed on the property?Depends on the layout. A minimum of 25 units (LDC Sec.30-692(b)(3)). Also look to the newly adopted 'Live Local Act' for additional entitlements in Florida Statutes.The seller says there might be a possibility of up to 45 units but the buyer must confirm with the Village of Islamorada.
Exterior Features

Construction Combo Construction Dockage None Land Size 2 Less Than 5 Acres Lot Size 3.20 Acres Miscellaneous Other Miscellaneous Roof Metal Roof Shutters Other Side Bay/Gulf Style Commercial Vehicle Storage Off Street Parking Waterfront None Waterfront YN No Waterview No Waterview

Interior Features

Appliances Other none Cooling Heating None Floor OtherTile Interior Features Other Windows Doors Other Windows/Doors

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No City ISLAMORADA Commercial Type Other Comrcl Style Control Depth 0 Electric 220 VoltCircuit Breakers Fee Includes None Fema List No Listing Board Florida Keys Mile Marker 76.00 Potential Short Sale No Potential Short Sale Financial Status No Property Type Commercial Tax Year 2022 Taxes 9741.33 Terms No Seller Finance Title Title Ins - Buyer Utilities FKAAMunicipal Sewer Zoning HC - Highway Commercial

Listing courtesy of Nancy Hershoff of Engel & Volkers Islamorada: (305) 587-3663.


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than KeyIsle Realty are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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