TRANSIENT LICENSE * NIGHTLY RENTALS* PROVEN RENTAL INCOME* IDEAL 1031 EXCHANGE OPPORTUNITY
Casa De Las Palmas
Rarely does a Florida Keys property combine proven income, privacy, and future potential like this.
Situated on nearly two acres spanning four lots, this unique compound offers a coveted transient license allowing nightly rentals and a well-established vacation rental business with a strong history of performance. Historically generating over $200,000 annually, with recent projections ranging from $250,000 to $300,000, this is an outstanding opportunity for investors, vacation rental operators, or buyers seeking a premier 1031 Exchange replacement property.
More than just a rental property, this is a proven income-producing asset with an established guest base, and delivering the authentic Florida Keys experience that visitors seek. Rather than starting from scratch, a new owner can step into a property with a successful operating history and demonstrated demand.
The property features a 4-bedroom, 2-bath main residence, relaxing pool, expansive outdoor living areas, and a separate concrete guest structure complete with bedroom, bath, and kitchenette. Fully fenced with two private entrances, the grounds offer exceptional privacy, abundant tropical landscaping, fruit trees, palms, and ample space for RVs, boat trailers, and recreational equipment. Over 100 Palm trees
Future upside may exist through additional development opportunities, expansion of the existing compound, or further enhancement of the guest experience, subject to buyer verification and applicable regulations.
Properties offering a transient license, multiple lots, substantial acreage, proven income, and future potential are increasingly rare in today's Florida Keys market. Whether you're seeking a high-performing vacation rental, a strategic 1031 Exchange acquisition, or a private Florida Keys retreat, this property is positioned to deliver value and Solid ROI from day one.
For sale
$2,195,000
125 Colson Dr, Cudjoe Key, FL 33042
5beds
1,903sqft
Single Family Residence
Built in 1986
1.57 Acres Lot
$2,064,800 Zestimate®
$1,153/sqft
$-- HOA
What's special
Fruit treesExceptional privacyRelaxing poolAbundant tropical landscaping
- 110 days
- 257
- 12
Zillow last checked:
Listing updated:
Listed by:
Mykael A. Marinelli 305-439-7730,
American Caribbean Real Estate, Christie's International Real Estate
Source: FLKMLS,MLS#: 620325
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Appliances
- Included: Refrigerator, Oven
Interior area
- Total structure area: 1,903
- Total interior livable area: 1,903 sqft
Property
Parking
- Parking features: Open, RV Access/Parking, Storage
- Has uncovered spaces: Yes
Features
- Has private pool: Yes
- Pool features: In Ground, Decked
- Fencing: Fenced,Privacy
Lot
- Size: 1.57 Acres
- Dimensions: 4 lots plus easement total of just under 2 acres
Details
- Parcel number: 00115840000201
- Zoning: SR - Sub Urban Residential District
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Frame
Condition
- Year built: 1986
Community & HOA
Community
- Subdivision: Cudjoe Acres (21.5)
HOA
- Has HOA: No
- Services included: Sewer, Other
Location
- Region: Cudjoe Key
Financial & listing details
- Price per square foot: $1,153/sqft
- Tax assessed value: $1,427,048
- Annual tax amount: $12,849
- Date on market: 6/19/2026
- Listing terms: Cash,Conventional
Estimated market value
$2,064,800
$1.96M - $2.17M
$7,841/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/12/2026 | Listed for sale | $2,195,000$1,153/sqft |
Source: | ||
| 6/1/2026 | Listing removed | $2,195,000$1,153/sqft |
Source: | ||
| 2/10/2026 | Price change | $2,195,000-2.4%$1,153/sqft |
Source: | ||
| 11/28/2025 | Listed for sale | $2,249,000$1,182/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,850 +34.5% | $1,427,048 +47.4% |
| 2024 | $9,556 +16.5% | $967,837 +10% |
| 2023 | $8,204 +1.5% | $879,852 +1.8% |
| 2022 | $8,082 +2.4% | $864,230 +9.8% |
| 2021 | $7,894 -3.3% | $787,098 -2.7% |
| 2020 | $8,167 | $808,997 -0.6% |
| 2019 | $8,167 -0.9% | $814,004 +1.3% |
| 2018 | $8,243 -1.4% | $803,486 -0.6% |
| 2017 | $8,362 +0.3% | $808,617 +5.5% |
| 2016 | $8,341 +7.4% | $766,690 +11.5% |
| 2015 | $7,766 | $687,902 |
Find assessor info on the county website
Monthly payment
Est. payment





