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Paul Tejera
Paul Tejera
(305) 393-2156paultejera@cbschmitt.com
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  • Coldwell Banker Schmitt Real Estate Co.
    85996 US Highway #1
    Islamorada, FL 33036
    (305) 393-2156
    paultejera@cbschmitt.com

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    MIAMI ASSOCIATION OF REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Marjo Realty Co. may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS.

    $2,950,000
    Off Market

    76800 Overseas Highway

    Lower Matecumbe, FL 33036
    1 bed | 2.00 baths | #605899
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    Type:Purchase
    Structure:Commercial
    Zone:Residential

    Description

    Land Use Attorney has stated:Islamorada Tennis Club 76800 Overseas Hwy, Lower Matecumbe Key, Islamorada, FL 33036 Parcel#:00396950-000200The Property is approximately 3.2 Acres. 1 Acre is classified as environmentally sensitive. The Property is categorized within the Future Land Use Map (FLUM) as Mixed Use (MU) and is within the Village Center (VC) Zoning District.1.What is the maximum buildable square footage left on this property based off previous development orders?VC allows a floor area ratio (FAR) of 0.35. According to a 2017 pre-application letter prepared by the Village of Islamorada 33,492 sf is recognized as buildable. 33,492 x 0.35=11,722 sf max FAR, 11,722-8,130=3,592 sf of FAR remaining. Code allows up to a 10,000 sf building. Storage must be in a standalone building if the existing building is to be re-purposed.2.Can this property be converted to affordable housing with commercial?Yes. The optimal layout would be first floor commercial with deed restricted affordable housing as a second, and possible third floor use.3.How many affordable housing units can be placed on the property?Depends on the layout. A minimum of 25 units (LDC Sec.30-692(b)(3)). Also look to the newly adopted 'Live Local Act' for additional entitlements in Florida Statutes.The seller says there might be a possibility of up to 45 units but the buyer must confirm with the Village of Islamorada.

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    Notice: This listing provided courtesy of Florida Keys MLS (FLKEYSMLS). The information contained in this listings has not been verified by us or the MLS and should be verified by the parties interested.

    Last Updated: Today at 12:03 PM. Source: FLKEYSMLS

    Provided By
    Listing Agent: Nancy Hershoff (#3292981)
    Listing Office: Engel & Volkers Islamorada (#1059507)

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