97850 Overseas Highway, Key Largo, FL 33037

New Listing

$12,450,000

Property Type: Commercial Sale Bedrooms: 22 Baths: 21 Lot Size (sq. ft.): 87,120 Status: Active

Current Price: $12,450,000 List Date: 7/22/2026 Last Modified: 7/23/2026

Overview

Description

Located on approximately 2 acres of upland and nearly one acre of bay bottom, this 21-room boutique hotel offers direct access to Florida Bay and stunning waterfront living in South Key Largo. Stretching from the Overseas Highway to the pristine waters of Florida Bay, the property is a true hidden gem. Family-owned, well maintained, and one of the Upper Keys' rarest bay front hospitality investment opportunities. Enjoy protected dockage with direct bay access, a private sandy beach, a concrete boat ramp, a heated and chilled swimming pool, outdoor grilling areas, and multiple tiki huts. Guests also benefit from spectacular year-round sunset views, creating a memorable Keys experience. 10 guest rooms have been tastefully renovated with a modern coastal design, while the remaining rooms have been refreshed with new paint and updated furnishings, delivering immediate rental income with strong upside potential to further increase revenue and value. Ideally located near dining, shopping, an ... (Read more)

Listing Details MLS# 620702

Location, Tax & Legal

Street #: 97850
Street Name: Overseas
Street Suffix: Highway
Key/Island: Key Largo
State/Province: FL
Zip Code: 33037
Subdivision: Misc Sub MM 97-107 (98.0)
County: Monroe
Area: 27 - Key Largo MM 97-107
City: KEY LARGO
Mile Marker: 98
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE9
Alternate Key #: 1104922
Parcel #: 00091050000000
Zoning: SC - Sub Urban Commercial District
Legal: 6 62 39 Island Of Key Largo Pb 1-59 Pt Lot 10 & .8Ac Bay Btm Or378-474(Ii Deed 24324) Or513-584 Or817-1441/1442 Or817-14
Taxes: 36459.3
Tax Year: 2025

Contract Information

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

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 87120
Waterfront: Yes
Control Depth: 5
Off Street Parking: Yes
Total # Buildings: 5
Building SqFt: 12788
SqFt Source: Property Data Card
Total Units: 21
Year Built: 1968
Total Bedrooms: 22
Full Baths: 21
Total Baths: 21

License Info

# of Transient Licns: 21

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No

More Information

Property Info

# Boat Slips: 5
# Kitchens: 9
# Efficiencies: 21
# Refrigerators: 21
# Range/Ovens: 9
License Included: Yes

Dockage

Dock: Wood
Seawall: Concrete
Boat Ramp: Yes

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: Located on approximately 2 acres of upland and nearly one acre of bay bottom, this 21-room boutique hotel offers direct access to Florida Bay and stunning waterfront living in South Key Largo. Stretching from the Overseas Highway to the pristine waters of Florida Bay, the property is a true hidden gem. Family-owned, well maintained, and one of the Upper Keys' rarest bay front hospitality investment opportunities. Enjoy protected dockage with direct bay access, a private sandy beach, a concrete boat ramp, a heated and chilled swimming pool, outdoor grilling areas, and multiple tiki huts. Guests also benefit from spectacular year-round sunset views, creating a memorable Keys experience. 10 guest rooms have been tastefully renovated with a modern coastal design, while the remaining rooms have been refreshed with new paint and updated furnishings, delivering immediate rental income with strong upside potential to further increase revenue and value. Ideally located near dining, shopping, and the area's most popular attractions, this exceptional property offers a variety of possibilities: continue operating as a cherished boutique hotel, reposition to enhance performance, or redevelop into an even more valuable waterfront destination. A truly rare, turnkey investment with tremendous upside in one of the Florida Keys' most desirable locations.

Type

Hotel/Motel: Yes

Fee Includes

None: Yes

Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes
Wall/Window Unit(s): Yes

Heating

Ductless: Yes
Electric: Yes

Waterfront

Bay Front: Yes
Gulf Front: Yes
Open Water: Yes

Waterview

Bay/Gulf View: Yes
Open Water View: Yes

Floor

Tile: Yes

Interior Features

Furnished: Yes
Smoke Alarms: Yes
Window Treatments: Yes

Windows/Doors

Impact Rstnce Window: Yes

Vehicle Storage

Guest Parking: Yes
Common Parking: Yes
Off Street Parking: Yes

Construction

CBS: Yes
Concrete: Yes

Land Size

2 Less Than 5 Acres: Yes

Terms

Buyer Obtain Finance: Yes
No Seller Finance: Yes
Private Financing: Yes

Utilities

Buyer to Verify: Yes
FKAA: Yes
Municipal Sewer: Yes

Property Rights

Multi-Use/Commercial: Yes
Transient License: Yes

Miscellaneous

Chickee Hut: Yes
Fencing: Yes
Handicap Access: Yes
High Traffc Location: Yes
High Visibility: Yes
Highway Frontage: Yes
Lobby: Yes
Open Water View: Yes
Patio: Yes
Pool: Yes
Utility Building: Yes

Roof

Metal Roof: Yes

Property Features

Property Info: License Included Type: Hotel/Motel Waterfront: Bay Front; Gulf Front; Open Water Waterview: Bay/Gulf View; Open Water View Dockage: Boat Ramp Vehicle Storage: Common Parking; Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s) Heating: Ductless; Electric Utilities: Buyer to Verify; FKAA; Municipal Sewer Interior Features: Furnished; Smoke Alarms; Window Treatments Appliances: Dryer; Range; Refrigerator; Washer Miscellaneous: Chickee Hut; Fencing; Handicap Access; High Traffc Location; High Visibility; Highway Frontage; Lobby; Open Water View; Patio; Pool; Utility Building Construction: CBS; Concrete Floor: Tile Roof: Metal Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: Buyer Obtain Finance; No Seller Finance; Private Financing Property Rights: Multi-Use/Commercial; Transient License

Listing Office: Ocean Sotheby's International Realty

Last Updated: July - 23 - 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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