$1,500,000

Palms of Islamorda 79901 Overseas Hwy Unit 516 Islamorada, FL 33036

Estimated payment $10,029/month

3 Beds
2 Baths
1,484 Sq Ft
$1,011 Price per Sq Ft

Highlights

  • Ocean Front
  • Boat Ramp
  • Clubhouse
  • Plantation Key School Rated A-
  • Concrete Pool
  • 1-minute walk to Lignumvitae Key Botanical State Park

About This Home

Stunning and Expansive Open Ocean Views and views of Alligator Lighthouse from almost every room! This one-of-a-kind beautifully updated condo at The Palms is an absolute must see for THE MOST spectacular open ocean views in Islamorada! Top floor penthouses are rarely on the market, and this fully updated 3 bedroom/ 2 bathroom was renovated down to the studs with new plumbing, wiring and electric. It was also completely re-imagined to create an elegant split bedroom floor plan that creates a much more private primary suite with spectacular ocean views. The view from this condo is so remarkable that it was even tapped to shoot a scene in the Bloodline TV series that was filmed in the Florida Keys! In addition to constructing an all new open kitchen with open ocean views and high-end appliances, the renovation also added additional cabinet storage and space for an in-unit laundry. The penthouse has impact windows and sliding glass doors plus accordian shutters on the porch to keep your porch furniture safe and out of the weather when you're away. There's also an ocean view community pool, hot tub, men's and women's gyms, kayak storage and launch, a community room and a dedicated parking spot plus additional guest parking. The Palms of Islamorada is also just steps away from the famous Lazy Days and Papa Joe's restaurants and Bud N' Mary's Marina. This one-of-a-kind penthouse will not last... call today!

Listing Agent

Brett Newman

Coldwell Banker Schmitt Islamorada License #555709 Listed on: 08/21/2025

Coldwell Banker Schmitt Islamorada

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $8,784

Year Built

  • Built in 1976 | Remodeled

HOA Fees

  • $1,124 Monthly HOA Fees

Home Design

  • Concrete Roof
  • Pre-Cast Concrete Construction

Interior Spaces

  • 1,484 Sq Ft Home
  • 5-Story Property
  • Furnished
  • Ceiling Fan
  • Blinds
  • Storage
  • Tile Flooring

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances
  • Granite Countertops

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Split Bedroom Floorplan
  • Walk-In Closet
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Home Security

Parking

  • Electric Gate
  • Guest Parking
  • Off-Street Parking
  • Assigned Parking

Pool

  • Concrete Pool
  • Heated In Ground Pool
  • Spa
  • Pool Deck
  • Outdoor Shower

Outdoor Features

  • Boat Ramp
  • Balcony
  • Gazebo
  • Tiki or Chickee Hut

Utilities

  • Central Air
  • Heating Available
  • Separate Meters
  • Public Hookup Available For Sewer
  • Cable TV Available

Additional Features

  • Handicap Accessible

Listing and Financial Details

  • Assessor Parcel Number 00096770-008000

Community Details

Overview

  • Association fees include cable, security, common area mnt, building insurance, bldg exterior mnt, water, exterminating, sewer
  • 84 Units
  • Palms Of Isla Subdivision

Amenities

  • Clubhouse

Recreation

  • Community Pool
  • Community Spa
  • Bike Trail

Pet Policy

  • Pets Allowed
  • Pet Restriction: 1 pet 20 lbs.

Security

  • Resident Manager or Management On Site
  • Complete Accordion Shutters
  • Impact Glass

Property Details

Home Type

Condominium

Est. Annual Taxes

$8,784

Year Built

Built in 1976 | Remodeled

Lot Details

0

HOA Fees

$1,124 per month

Listing Details

  • Property Type: Residential
  • Style: Condo
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 1124.00
  • Mandatory HOA: Yes
  • Control Depth: 1
  • Fee Includes: Cable, Security, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Water, Exterminating, Sewer
  • Handicap Access: Yes
  • Key Island: Upper Matecumbe Key Islamorada
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 80.00
  • Min Rental Days: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Neighborhood Feature: Community Pool, Bike Paths, Spa, Fire Hydrant, Manager on Premises, Clubhouse
  • Off Shore Island: No
  • Pets: Pets Allowed
  • Pets W Restrictions: 1 pet 20 lbs.
  • Property Group I D: 19990816212109142258000000
  • Side: Ocean
  • State Province: FL
  • Taxes: 8784.04
  • Title: Title Ins - Buyer
  • Vehicle Storage: Assigned Parking, Off Street Parking, Guest Parking
  • Year Built: 1976
  • Alternate Key Number: 1113221
  • Cooling Heating: Central Air, Ceiling Fans(s)
  • Pool Info: In Ground, Decked, Concrete
  • Pool Info Heated: Yes
  • Porch Balcony: Open Porch/Balcony
  • Association Maintenance Fee Per: Monthly
  • Shutters: Accordion
  • Species List: No
  • Tax Exemptions: None
  • Building Style Above Flood: Yes
  • Building Style Stories: 5 Stories
  • Estimated Living Sq Ft: 1484.00
  • Pre Wired: Cat 5
  • Property Condition: Updated/Remodeled
  • Sewer Hook Up: Yes
  • Unit Complex: Unit
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 5

Interior Features

  • Interior Amenities: Drapes/Blinds Incl, Granite Counter Top, Walk-in Closet(s), Storage, Split Bedroom
  • Floor Number: 5.00
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Floor: Tile
  • Windows/Doors: Other Windows/Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Total Bedrooms: 3
  • Sq Ft Remarks: approximate

Exterior Features

  • Dockage: Boat Ramp, None
  • Waterfront: Oceanfront, Open Water
  • Waterfront: Yes
  • Construction: CBS, Concrete
  • Exterior Features: Chickee Hut, Outdoor Shower, Hot Tub, Gazebo
  • Roof: Concrete Roof
  • Waterview: Ocean View, Open Water View
  • Pool: Yes

Utilities

  • Security: Electric Gate
  • Utilities: FKAA, Elect Separate Meter, Cable Available, Municipal Sewer
  • Heating: Electric

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: VE,AE
  • Parcel Number: 00096770-008000
  • Land Size: 2 Less Than 5 Acres

Rental Info

  • Rentals Allowed: Yes
  • Furnished: Furnished

Tax Info

  • Tax Year: 2024

Multi Family

  • Total Units: 84.00

Map

About Palms of Islamorda

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $8,397 $1,021,171 -- $1,021,171
2023 $8,397 $994,988 $0 $994,988
2022 $7,446 $798,610 $0 $798,610
2021 $6,944 $667,691 $0 $667,691
2020 $6,846 $654,599 $0 $654,599
2019 $6,469 $603,154 $0 $603,154
2018 $6,381 $603,154 $0 $0
2017 $5,708 $538,845 $0 $0
2016 $5,852 $538,845 $0 $0
2015 $5,191 $465,695 $0 $0
2014 $5,225 $463,335 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/21/2025 08/21/25 For Sale $1,500,000 -- $1,011 / Sq Ft
Source: Florida Keys Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $550,000 Attorney
Warranty Deed $247,500 --
Warranty Deed $216,300 --
Deed $155,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $200,000 Stand Alone First
Source: Public Records

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Source: Florida Keys Board of REALTORS®

MLS Number: 616222

Florida Keys Board of REALTORS®

APN: 00096770-008000

Florida Monroe County Islamorada 33036

79901 Overseas Hwy Unit 516, Islamorada, FL

This home is located at 79901 Overseas Hwy Unit 516, Islamorada, FL 33036 and is currently priced at $1,500,000, approximately $1,010 per square foot. This property was built in 1976. 79901 Overseas Hwy Unit 516 is a home located in Monroe County with nearby schools including Plantation Key School, Coral Shores High School, and Island Christian School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Florida Keys Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Nearby Homes
Brett Newman
Listing Agent
Brett Newman
Section Image
Coldwell Banker Schmitt Islamorada
(786) 977-4812