98640 Overseas Hwy, Key Largo, FL 33037

Property Description

RARE KEY LARGO INVESTMENT & REDEVELOPMENT OPPORTUNITY! Discover this unique approximately 1.04-acre property ideally situated along Overseas Highway in the heart of Key Largo. Offering a combination of existing income, residential and historical commercial uses, and future redevelopment potential, this property presents an exceptional opportunity for investors, developers, and owner-users. A significant highlight is the existing residential dwelling unit, officially recognized by Monroe County as lawfully established and eligible for replacement without obtaining a new residential ROGO allocation, subject to applicable development approvals. County ROGO determination letter available upon request. The property carries a Residential Low (RL) Future Land Use designation and Suburban Residential (SR) zoning. According to the seller, existing residential and commercial uses may continue subject to applicable restrictions. The property's history of commercial activity, existing improvements, and residential entitlement create opportunities for continued income production, owner occupancy, or potential redevelopment. Located along the primary corridor connecting the Florida Keys, with waterfront exposure and convenient access to surrounding communities, this distinctive offering combines location, versatility, and long-term investment potential.