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Rare opportunity to acquire approximately 10 acres of vacant residential land in Sugarloaf Key, an area known for its low-density character, natural surroundings, and limited land availability. Large parcels of this size are increasingly scarce in the Lower Florida Keys, positioning this property as a strategic long-term holding or future planning opportunity.
On Monroe county records, the property consists of a mix of hardwood hammock, transitional lands, and environmentally sensitive areas and is currently unimproved. The surrounding area is developed primarily with single-family residences, including custom and elevated homes designed in accordance with coastal and floodplain construction standards, preserving the residential and natural character of Sugarloaf Key.
The property offers convenient access to U. S. -1 while maintaining privacy and the authentic Keys environment. Any future use or development is subject to Monroe County Comprehensive Plan policies, Rate of Growth Ordinance (ROGO) allocation, environmental review, and applicable state and federal approvals.
Buyer is solely responsible for verifying flood zone designation, buildability, density, environmental constraints, ROGO availability, and all permitted uses prior to closing. No representations or guarantees are made regarding development rights or approvals.
ROGO-Focused Investor Note:
Properties of this scale in the Florida Keys are often acquired with a long-term entitlement or land-banking strategy. ROGO allocations are limited, competitive, and issued through a points-based system that may involve extended timelines. Investors familiar with Monroe County processes may view this parcel as suitable for future ROGO pursuit, mitigation planning, conservation strategies, or phased development concepts, subject to regulatory approval. No ROGO allocation is currently implied or guaranteed. For GPS reference, use coordinates 24°39'35. 2"N, 81°32'10. 3"W. Property boundaries and exact location to be verified by survey.
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William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $639,200 | $639,200 | $639,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.125% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.258% | 6.292% | 5.648% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,680 | $3,884 | $5,180 |
| Total Monthly Payment | $3,772 | $3,976 | $5,272 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.