554 Ocean Cay Drive, Key Largo, FL 33037

New Listing

$5,295,000

Property Type: Vacant Land Lot Size (sq. ft.): 12,120 Status: Active

Current Price: $5,295,000 List Date: 10/21/2026 Last Modified: 10/21/2026

Overview

Description

A truly rare opportunity in the Florida Keys! Welcome to 554 Ocean Cay, an exceptional oceanfront building lot located within an exclusive gated community in Port Largo, Key Largo. What makes this property so extraordinary is its unique combination of direct Atlantic Ocean frontage in the backyard and 100 feet of deep-water dockage in the front, offering direct ocean access and the ability to accommodate yachts up to 100 feet. BEST OF ALL, THIS LOT WAS PREVIOUSLY IMPROVED WITH A HOME, OFFERING A SIGNIFICANT ADVANTAGE FOR BUYERS LOOKING TO BUILD WITHOUT THE TYPICAL WAIT ASSOCIATED WITH VACANT LAND IN THE FLORIDA KEYS! Very few properties in the entire Florida Keys offer this remarkable combination of oceanfront living, deep-water yacht dockage, and an existing residential building history. Imagine designing your custom waterfront estate overlooking the open Atlantic Ocean while keeping your yacht just steps from your front door. Enjoy breathtaking ocean views, exceptional boating access ... (Read more)

Listing Details MLS# 621722

Location, Tax & Legal

Street #: 554
Street Name: Ocean Cay
Street Suffix: Drive
Key/Island: Key Largo
State/Province: FL
Zip Code: 33037
County: Monroe
Subdivision: Port Largo (100.0)
Area: 27 - Key Largo MM 97-107
City: KEY LARGO
Off Shore Island: No
Tier: Tier 3
Mile Marker: 100
Marathon Neighborhood: N/A
Senior Community YN: No
Side: Ocean
Flood Zone: AE,VE
Alternate Key #: 1556793
Parcel #: 00453475-017000
Zoning: IS - Improved Subivision District
Deed Restrictions: No
Legal: LT 554 AND OUT LOT 554 PORT LARGO FIFTH ADDITION KEY LARGO PB6-109 AND PT PVT RD OR796-2450 OR918-29 OR1003-1510 OR1029-
Taxes: 30012.49
Tax Year: 2025

Contract Information

Listing Board: Florida Keys
ROGO Exempt: Yes
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No

General Property Description

Realtor.COM Type: Vacant Land
Waterfront: Yes
Control Depth: 6
Lot Dimensions: 100 x 217+
Lot SqFt: 12120
Lot Sqft Source: Tax Records
Survey Available: Yes
Total Lots: 0

Miscellaneous Info

Mobile Home Lot: No

Dockage

Dock: Concrete
Dock Length: 100
Other Dockage: Yes

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: A truly rare opportunity in the Florida Keys! Welcome to 554 Ocean Cay, an exceptional oceanfront building lot located within an exclusive gated community in Port Largo, Key Largo. What makes this property so extraordinary is its unique combination of direct Atlantic Ocean frontage in the backyard and 100 feet of deep-water dockage in the front, offering direct ocean access and the ability to accommodate yachts up to 100 feet. BEST OF ALL, THIS LOT WAS PREVIOUSLY IMPROVED WITH A HOME, OFFERING A SIGNIFICANT ADVANTAGE FOR BUYERS LOOKING TO BUILD WITHOUT THE TYPICAL WAIT ASSOCIATED WITH VACANT LAND IN THE FLORIDA KEYS! Very few properties in the entire Florida Keys offer this remarkable combination of oceanfront living, deep-water yacht dockage, and an existing residential building history. Imagine designing your custom waterfront estate overlooking the open Atlantic Ocean while keeping your yacht just steps from your front door. Enjoy breathtaking ocean views, exceptional boating access, and the privacy of an exclusive gated community. For the discerning buyer seeking a truly unique location to create a magnificent Florida Keys estate, opportunities like this are increasingly difficult to find. Two waterfront experiences, one extraordinary property. This is Florida Keys living at its finest!

Assoc/Misc Info

Mandatory Home Owners Asc: Yes
1st Right of Refusal: No
Association Fee $: 1500
Assoc/Mnt Fee Per: Yearly

Tax Exemptions

None: Yes

Waterfront

Canal Front: Yes
Oceanfront: Yes
Open Water: Yes

Waterview

Ocean View: Yes
Open Water View: Yes

Neighborhood Feature

Community Boat Ramp: Yes
Community Dockage: Yes
Other Area Features: Yes

Location/Site

Cleared Site: Yes
Water Frontage: Yes

Existing Utilities

Electric on Site: Yes
Sewer: Yes
Water Line: Yes
Water Meter: Yes

BuildingPermit

Active Permit: Yes
Other Permit: Yes

Security

Electric Gate: Yes
Other: Yes

Land Size

Less Than 1/4 Acre: Yes

Terms

Buyer Obtain Finance: Yes

Title

Title Ins - Buyer: Yes

Property Features

Tax Exemptions: None Waterfront: Canal Front; Oceanfront; Open Water Dockage: Other Dockage Waterview: Ocean View; Open Water View Neighborhood Feature: Community Boat Ramp; Community Dockage; Other Area Features Existing Utilities: Electric on Site; Sewer; Water Line; Water Meter BuildingPermit: Active Permit; Other Permit Security: Electric Gate; Other Land Size: Less Than 1/4 Acre Terms: Buyer Obtain Finance Title: Title Ins - Buyer

Listing Office: The Firm Realty Group

Last Updated: October - 21 - 2026

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

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