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    Islamorada, FL 33036

    Sponsored
    For Sale
    $6,995,000

    Prime Islamorada location, multiple development options.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional Islamorada investment opportunity presents a unique blend of commercial and residential potential. Spanning 30,415 square feet, this property boasts two Village Center parcels extending from the highway to the bay. Currently housing a 3,995 square foot restaurant and bar with a valuable 5COP liquor license (no food quota), the property offers immediate income potential. The Village Center zoning allows for a diverse range of uses, including single-family estates, multi-family compounds, luxury townhomes, vacation rentals, restaurants, marinas, wedding venues, and general stores with package sales. A significant advantage is the inclusion of a bayfront boat basin with dockage for up to seven vessels, and sufficient depth for an additional 100-foot dock. The property also includes deeded bay bottom. The Village of Islamorada officially recognizes three waterfront market-rate dwelling units, represented by transferable development rights (TDRs). These TDRs can be used on-site, transferred elsewhere, or sold. Village Center zoning permits up to eight market-rate dwelling units, potentially creating a luxurious townhome community with the addition of further TDRs. This property is ideally situated for redevelopment into a spectacular residential estate, a thriving new business, or the revitalization of an existing iconic establishment. All information should be independently verified by the buyer. Priced at $6,995,000.

    Property Features for

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1963
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.6331
    Latitude
    24.9226

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Islamorada location, multiple development options.
    Where is this commercial real estate located?
    The property is located at Islamorada, FL.
    What is the asking price?
    The asking price for this property is $6,995,000.
    (305) 852-0400
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    Islamorada, FL 33036
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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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    Islamorada, FL 33036
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