KEY WEST, FL—It's one of the last remaining waterfront development sites in the Florida Keys—and it's up for grabs. CBRE's Multi-Housing Group is marketing a 1.79-acre plot on Stock Island, which is adjacent to Key West.
The site is approved for residential redevelopment. Specifically, developers are allowed to build 12 large luxury waterfront single-family homes and marina slips there.
CBRE's Calum Weaver and Gerard Yetming, both based in Fort Lauderdale, are marketing the sites in this high-barrier-to-entry Florida Keys market. According to CBRE, luxury waterfront single-family homes and townhomes with marina slips in the Florida Keys command premium pricing—on average well over $700 per square foot.
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