550 1st St Unit 112 Cedar Key, FL 32625
Cedar Key AreaEstimated payment $2,385/month
Total Views
15,684
1
Bed
1
Bath
560
Sq Ft
$516
Price per Sq Ft
Highlights
- Property fronts gulf or ocean
- Concrete Pool
- Traditional Architecture
- Built in 1982 | Newly Remodeled
- Deck
- 4-minute walk to Lil Shark Park
About This Home
Perched along the shimmering shoreline of Cedar Key, this gulf-front condominium delivers what discerning coastal buyers seek but rarely find: unobstructed, panoramic water views paired with true walkability to the heart of town. From morning light dancing across the Gulf to painted sunset skies, every moment on Cedar Key is framed by open water and the easy rhythm of island living. Positioned in what many consider the premier location on the island, this residence places you just steps from local dining, shopping, and the vibrant waterfront—yet feels worlds away with its elevated vantage point and sweeping views of birds and water. A dedicated parking space and golf-cart-friendly access ensure effortless movement from your front door to everything Cedar Key has to offer. Thoughtfully elevated for peace of mind, the property is undergoing a comprehensive restoration scheduled for completion in August 2026. The result will be essentially new construction within an established, high-demand complex: fresh drywall, a fully redesigned kitchen with granite counters, new appliances, updated flooring, modern paint finishes, and a reimagined bath—all complemented by curated, high-quality coastal furnishings. A new HVAC system and in-unit washer and dryer add practical comfort to the refined aesthet?ic. If you hurry, you can select colors and other options! Beyond the residence, the community itself is being revitalized, highlighted by what is widely regarded as the best pool in town—set gulf-side for uninterrupted water views—and surrounded by refreshed landscaping that enhances both privacy and curb appeal. For investors, the opportunity is equally compelling: a proven, high-performing rental property with no usage restrictions, offering immediate income potential upon completion. A superior ROI means years of a high producing unit in your portfolio. For end users, it's a turnkey coastal retreat or full-time residence where every detail has been addressed. Island Place 112 is a fully reimagined gulf-front condominium in one of Florida's most authentic waterfront communities. Come imagine the possibilities! Pictures indicate current condition as well as some pictures from prior to Sept 2024 to show how it can look when completed. Buyer may be able to select colors and options, depending on timing.
Listing Agent
Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3464870 Listed on: 04/30/2026
Co-Listing Agent
Pelican Realty Brokerage Email: 3525435581, carynd@gmail.com License #3232198
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $2,340
Year Built
- Built in 1982 | Newly Remodeled
Lot Details
- Property fronts gulf or ocean
- Landscaped
HOA Fees
- $603 Monthly HOA Fees
Home Design
- Traditional Architecture
- Raised Foundation
- Frame Construction
- Metal Roof
- HardiePlank Type
Interior Spaces
- 560 Sq Ft Home
- 2-Story Property
- Furnished
- Ceiling Fan
- Electric Fireplace
- Double Pane Windows
- Blinds
- Sliding Doors
- Luxury Vinyl Plank Tile Flooring
- Gulf Views
- Stacked Washer and Dryer
Kitchen
- Breakfast Bar
- Electric Range
- Microwave
- Dishwasher
- Granite Countertops
Bedrooms and Bathrooms
- 1 Primary Bedroom on Main
- 1 Full Bathroom
- Single Vanity
- Shower
Home Security
Parking
- Paved Parking
- Open Parking
Pool
- Concrete Pool
- Heated In Ground Pool
- Saltwater Pool
- Fence Around Pool
Outdoor Features
- Deck
- Patio
- Exterior Lighting
- Outdoor Grill
Utilities
- Cooling Available
- Heating Available
- Electric Water Heater
- Internet Available
- Cable TV Available
Additional Features
- No Carpet
- In Flood Plain
Listing and Financial Details
- Assessor Parcel Number 1766600000
Community Details
Overview
- The Island Place At Cedar Key Subdivision
Security
- Storm Windows
- High Impact Windows
- Fire and Smoke Detector
Map
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Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/30/2026 04/30/26 | For Sale | $289,000 | +99.3% | $516 / Sq Ft | |
| 09/19/2019 09/19/19 | Sold | $145,000 | -8.8% | $259 / Sq Ft | View Prior Sale |
| 08/20/2019 08/20/19 | Pending | -- | -- | -- | |
| 02/05/2019 02/05/19 | For Sale | $159,000 | +33.6% | $284 / Sq Ft | |
| 01/12/2015 01/12/15 | Sold | $119,000 | -5.6% | $177 / Sq Ft | View Prior Sale |
| 12/13/2014 12/13/14 | Pending | -- | -- | -- | |
| 11/11/2014 11/11/14 | For Sale | $126,000 | -- | $188 / Sq Ft |
Source: Dixie Gilchrist Levy Counties Board of REALTORS®
About the Listing Agent
Melinda's Other Listings
Source: Dixie Gilchrist Levy Counties Board of REALTORS®
MLS Number: 799134
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