98640 Overseas Highway, Key Largo, FL 33037

New Listing

$2,850,000

Property Type: Commercial Sale Bedrooms: 2 Baths: 2 Square Footage: 1,020 Lot Size (sq. ft.): 47,263 Status: Active

Current Price: $2,850,000 List Date: 11/12/2026 Last Modified: 11/12/2026

Overview

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 improv ... (Read more)

Listing Details MLS# 622048

Location, Tax & Legal

Street #: 98640
Street Name: Overseas
Street Suffix: Highway
Key/Island: Key Largo
State/Province: FL
Zip Code: 33037
Subdivision: Rock Harbor Manor (97.0)
County: Monroe
Area: 27 - Key Largo MM 97-107
City: KEY LARGO
Off Shore Island: No
Mile Marker: 98
Marathon Neighborhood: N/A
Side: Ocean
Alternate Key #: 8557272
Parcel #: 00521490000100
Zoning: RL - Residential Low
Legal: Lt 17 & Adj Fill Bay Btm Rock Harbor Manor Pb2-54 Key Largo Or493-32 74-219P Or617-674 Re:521490-00000 Combined For Exem
Taxes: 33415.4
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
Species List: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 47263
Waterfront: Yes
Control Depth: 2
Building SqFt: 1020
SqFt Source: Seller
Living Apx SqFt: 1020
Year Built: 1974
Total Bedrooms: 2
Full Baths: 2
Total Baths: 2

Association Info

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

Financial Status

Bank Owned: No
Potential Short Sale: No

More Information

Remarks & Misc

Remarks – Consumer: 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.

Type

Boat Care: Yes
Boat Sales/Service: Yes
Retail: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Appliances

No Appliances: Yes

Cooling

Central Air: Yes

Heating

Central: Yes
Electric: Yes

Waterfront

Bay Front: Yes

Waterview

Salt Ponds: Yes

Construction

Combo Construction: Yes

Land Size

1 Less Than 2 Acres: Yes

Terms

Buyer Obtain Finance: Yes
No Seller Finance: Yes

Utilities

FKAA: Yes

Miscellaneous

High Visibility: Yes
Residence on Premise: Yes
Utility Building: Yes

Property Features

Type: Boat Care; Boat Sales/Service; Retail Waterfront: Bay Front Waterview: Salt Ponds Dockage: None Cooling: Central Air Heating: Central; Electric Utilities: FKAA Appliances: No Appliances Miscellaneous: High Visibility; Residence on Premise; Utility Building Construction: Combo Construction Land Size: 1 Less Than 2 Acres Fee Includes: None Terms: Buyer Obtain Finance; No Seller Finance

Listing Office: RE/MAX City Centre Realty

Last Updated: November - 12 - 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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