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    96 Madeira Rd Upper Matecumbe Ky Islamorada, FL 33036

    For Sale
    $23,000,000

    Restaurant,Bar,Retail - Upper Matecumbe Key Islamorada, FL

    Days on Market:
    305
    Last Refresh:
    Dec 13 at 5:06 pm

    Property Features for 96 Madeira Rd Upper Matecumbe Ky

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    HC - Highway Commercial
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    00399370-000000
    Appliances
    Dishwasher, Refrigerator, Washer

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    2011
    Floors in Building
    1
    Building materials
    Frame
    Architectural style
    Other

    Berkshire Hathaway HomeServices Freewheeler Realty (305) 664-4444 [email protected]

    Listing agent The Lindback Team (305) 664-4444 License #30590270

    Listing date Feb 12, 2025

    MLS# 613627 Listing URL

    Copyright © 2025 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Islamorada Restaurant & Bar For Sale

    This iconic Islamorada restaurant and cabana bar is available for sale, including both the real estate and the business. The property spans over 1,000 feet of bayfront and 500 feet of highway frontage. It is a popular destination for locals and visitors who gather to watch sunsets, enjoy food and drinks, and listen to live music. The property includes over 5 acres of land with a survey available. It features a full-service bar with a 5 Cop liquor license and a 250-seat outdoor restaurant. There is also a private party and tournament hosting area. A new parking lot, lighting, and drainage system were completed in 2020, providing ample parking for business expansion. A concrete building, constructed in 2015/2016, houses a gift shop, bathrooms, laundry facilities, a prep kitchen, and storage space. Additional amenities include a main kitchen, a special event tiki bar, dockage, a beach, and a boat ramp. The sale includes four on-site building rights and two boat slips in the Islamorada Yacht Basin, which is located adjacent to the property. There is room for expansion. The property has been voted Best Sunset year after year and is located in Upper Matecumbe Key Islamorada, FL. The property is zoned HC - Highway Commercial and can be used for restaurant, bar, and retail purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Map

    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.633079
    Latitude
    24.921771

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    FAQs

    What type of property is this?
    Bar - Iconic Islamorada restaurant and cabana bar with real estate included.
    Where is this bar located?
    The property is located at 96 Madeira Rd Upper Matecumbe Ky Islamorada, FL.
    What is the asking price?
    The asking price for this property is $23,000,000.
    What are key features of this property?
    This property features: - Iconic Islamorada restaurant and cabana bar business and real estate included in sale.; - Prime bayfront location with over 1,000 feet of bayfront and 500 feet of highway frontage, known for sunset views.; - Includes a 5 Cop liquor license, 250-seat outdoor restaurant, and private event space.
    (305) 664-4444
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    96 Madeira Rd Upper Matecumbe Ky Islamorada, FL 33036
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