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27340 Overseas Highway

Ramrod Key, FL 33042
  • $13,965,000
  • STATUS: Active
  • ON SITE: 6 Days
  • MLS #: 613450
New On Site 6 Days Ago
UPDATED: 29 min ago
$13,965,000
  • 0
    BEDS
  • 1.67
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,948
    SQFT
  • $1,276
    $/SQFT
Type:
Commercial
Built:
1958
County:

School Ratings & Info

Description

Discover a prime investment opportunity with this unique commercial property located on 1.67 acres along the scenic Overseas Highway of the Florida Keys. This site features an impressive 470' of highway frontage and sits on a 40' wide canal, providing excellent boating access and approximately 17 boat slips along the seawall. Transferable quota Liquor License was recently appraised at $800,000. Transient Licenses were recently appraised at $5,000,000.There are a total of 25 transferable Transient licenses.Currently this business is operating as the Looe Key Reef Resort, this multifaceted, profitable business includes a dive shop, motel, swimming pool, snorkel and dive charter business offering dive instruction and trips to the Looe Key sanctuary, a large tiki bar, kitchen and restaurant, and onsite food truck.Development Potential: The existing motel presents an excellent opportunity for conversion into affordable/workforce housing, allowing for the strategic relocation of the 25 transferable transient licenses within unincorporated Monroe County. This flexibility opens doors for various development scenarios, catering to diverse market needs. Offers a strategic advantage with the ability to transfer transient licenses to another location within 14 miles noting that the receiving site may not be required to adhere to affordable housing requirements, enhancing the potential for development or redevelop the current property. With its prime location, extensive licenses, and existing business operations, this property stands out as a lucrative investment opportunity in the heart of Florida's beautiful Keys. Don't miss your chance to capitalize on this rare offering.Buyer to verify all information.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Coastal Collection Real Estate Inc. are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
www.buythekeys.com/homes/159954105
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27340 Overseas Highway Ramrod Key, FL 33042

  • Price: $13,965,000
  • Status: Active
  • On Site: 6 Days
  • Updated: 29 min ago
  • MLS #: 613450
0
Beds
0
Baths
0
½ Baths
1.67
Acres
10,948
SQFT
$1,276
$/SQFT
1958
Built
Neighborhood:
Breezeswept Bch Est (27.5)
County:
Monroe
Area:
09 - Ramrod Key
Property Description
Discover a prime investment opportunity with this unique commercial property located on 1.67 acres along the scenic Overseas Highway of the Florida Keys. This site features an impressive 470' of highway frontage and sits on a 40' wide canal, providing excellent boating access and approximately 17 boat slips along the seawall. Transferable quota Liquor License was recently appraised at $800,000. Transient Licenses were recently appraised at $5,000,000.There are a total of 25 transferable Transient licenses.Currently this business is operating as the Looe Key Reef Resort, this multifaceted, profitable business includes a dive shop, motel, swimming pool, snorkel and dive charter business offering dive instruction and trips to the Looe Key sanctuary, a large tiki bar, kitchen and restaurant, and onsite food truck.Development Potential: The existing motel presents an excellent opportunity for conversion into affordable/workforce housing, allowing for the strategic relocation of the 25 transferable transient licenses within unincorporated Monroe County. This flexibility opens doors for various development scenarios, catering to diverse market needs. Offers a strategic advantage with the ability to transfer transient licenses to another location within 14 miles noting that the receiving site may not be required to adhere to affordable housing requirements, enhancing the potential for development or redevelop the current property. With its prime location, extensive licenses, and existing business operations, this property stands out as a lucrative investment opportunity in the heart of Florida's beautiful Keys. Don't miss your chance to capitalize on this rare offering.Buyer to verify all information.
Exterior Features

Construction Other Dockage Boat Ramp Dockage Dock Other Dockage Seawall Other Land Size 1 Less Than 2 Acres Lot Size 1.67 Acres Miscellaneous Chickee HutPoolHighway FrontageHigh VisibilityHigh Traffc LocationElevatorHandicap Access Side Ocean Style Commercial Vehicle Storage Off Street Parking Waterfront Canal Front Waterfront YN Yes Waterview Canal View

Interior Features

Appliances RefrigeratorDishwasher Appliances Other See Description

Property Features

Assoc Hoa YN No Assoc Right Of Refusal No Bank Owned No Bank Owned Financial Status No Business Name LOOE KEY REEF RESORT City Ramrod Commercial Type Hotel/MotelBarOther ServicesRetailRestaurant Control Depth 4 Fee Includes None Fema List Yes Flood Zone AE Legal BREEZESWEPT BEACH EST PB4-143 RAMROD KEY LTS 10-13 AND PT LT 14 BK 1 AND PT ADJ TRINIDAD RD (RES NO 248-1988) License Info 5-Cop (Transferable)Other/See Remarks Listing Board Marathon/Lower Keys Mile Marker 27.50 Off Shore Island No Potential Short Sale No Potential Short Sale Financial Status No Property Type Commercial Sq Ft Source Property Data Card Tax Year 2023 Taxes 93757.25 Terms Buyer Obtain Finance Total Units 0.00 Utilities FKAAPropaneBuyer to Verify Zoning SC - Sub Urban Commercial District

Listing courtesy of Lanny Gardner of Bluescape Real Estate: .


The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Coastal Collection Real Estate Inc. are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.
 
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Coastal Collection Real Estate Inc.
422 Fleming St Suite 7
Key West FL, 33040