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  • MLS#: R11130582 ( Residential )
  • Street Address: 231 Shore Drive
  • Viewed: 47
  • Price: $32,000,000
  • Price sqft: $4,913
  • Waterfront: No
  • Year Built: 2025
  • Bldg sqft: 6514
  • Bedrooms: 5
  • Total Baths: 6
  • Full Baths: 5
  • 1/2 Baths: 1
  • Garage / Parking Spaces: 2
  • Days On Market: 108
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231 Shore Drive
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PRICED AT ONLY: $32,000,000

Address: 231 Shore Drive, Key West, FL 33040

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Description
Introducing Seven Palms Cove, a rare new construction oceanfront community in the Florida Keys that combines luxury living with unmatched investment potential. With only seven residences availableeach spanning over 4,000 sq. ft. with 5 bedrooms, 5.5 baths, private infinity pools, rooftop decks, and assigned dockagethis gated enclave offers turn key short term rental flexibility. Unlike most communities in the Keys, there are no rental restrictions, making it possible to operate each home as a high yield Airbnb or combine all seven into a boutique hospitality portfolio complete with shared resort style amenities: a private boat basin, sport courts, pickleball, hammocks, and paddleboard launches. For the investor, the opportunity doesn't end there. Just across the street lies an additional 8 acre ROGO exempt parcel, with approximately 5 acres of usable land and three existing income producing cottages generating projected revenues of $300,000 annually. This parcel provides immediate returns while offering endless expansion optionswhether adding more cottages, building a yoga retreat, event venue, or further short term rental inventory. With the ability to control all seven luxury homes plus the adjacent parcel, an investor could curate an exclusive, resort style Airbnb village or private hotel collection in one of the most desirable boating and vacation destinations in the U.S. The combination of brand new construction, no rental limitations, resort amenities, and future development land presents a one of a kind portfolio play with both short term income and long term appreciation upside.
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Features
Building and Construction
  • Exterior Features: Balcony
  • Flooring: Wood, Other
  • Roof: Metal
Garage and Parking
  • Parking Features: Attached Carport, Covered
Eco-Communities
  • Pool Features: In Ground
  • Water Source: Public
Utilities
  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Central, Central Building, Natural Gas, Other
  • Pets Allowed: No Restrictions, Yes
  • Sewer: Public Sewer
  • Utilities: Sewer Available, Water Available
Amenities
  • Association Amenities: Bike Storage, Boating, Elevator(s), Pickleball Court(s), Street Lights
Finance and Tax Information
  • Home Owners Association Fee: 1100
  • Tax Year: 2024
Other Features
  • Appliances: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
  • Furnished: Unfurnished
  • Interior Features: Built-in Features, Elevator, Entrance Foyer, Pantry, Walk-In Closet(s)
  • Legal Description: LT 17 SUMMERLAND ESTATES SUMMERLAND KEY PB2-167 OR365-904 OR367-388 OR774-400 OR774-1530 OR2018-597 OR2071-1193 OR2071-1
  • Parcel Number: 00200610000000
  • Style: Other
  • Views: 47
  • Zoning Code: SR
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