98880 Overseas Hwy - Retail FOR SALE


Key Largo, FL 33037
$15,000,000 USD
305-304-0084
98880 Overseas Hwy, Key Largo, FL for Sale
$15,000,000 USD
Retail - FOR SALE
1/3
null | Request Cap Rate

98880 Overseas Hwy
Key Largo, FL 33037


OVERVIEW

A rare opportunity to acquire 10.88± acres of Industrial (I) zoned vacant land in the Florida Keys. Industrially zoned properties are extremely limited due to the unique development restrictions throughout the Keys, making this one of the few large-scale industrial development opportunities available. The offering consists of multiple parcels totaling approximately 475,000± square feet (10.88± acres). Based on a recent Letter of Understanding (LOU) with Monroe County, the Industrial-zoned portion of the property allows for the development of approx. 130,000 square feet of light industrial floor area. One of the property's most significant advantages is that this allowable industrial floor area is exempt from Monroe County's NROGO permit allocation system, provided the development is limited to manufacturing, assembly, wholesaling, and distribution uses. This exemption represents substantial value, as the property has verified commercial floor area rights and an established path to obtaining building permits without the uncertainty of public allocation processes. The property is designated Industrial (I) on the Monroe County Future Land Use Map (FLUM), classified as Tier III on the Tier Overlay Map, and identified as Developed Land. The Industrial zoning district is intended to accommodate light industrial, manufacturing, warehousing, logistics, and distribution facilities. This is an exceptional investment and development opportunity for industrial users, logistics companies, manufacturers, and investors seeking one of the largest industrial development sites in the Florida Keys. Confidential Offering: Property address, surveys, and additional due diligence materials, including actual photographs, will be provided upon execution of a Non-Disclosure Agreement (NDA) and receipt of Proof of Funds.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$3,750 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10 ac. of Industrial-Zoned Land-Florida Keys

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Distribution, Manufacturing, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

10.88 AC

LAND SF

473,933 SF

ZONING

I

APN/PARCEL ID

00521950-000000

ASK ABOUT THIS PROPERTY

Curtis A. Skomp, CCIMLoopnet LeadMore Info
305-304-0084

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Curtis A. Skomp, CCIMLoopnet LeadMore Info
305-304-0084

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.