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    Profitable Marina & Unique Resort Title is generated by Realmo AI

    200 Treasure Harbor Drive, Plantation Key, FL 33036

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    Claim this Listing
    For Sale
    $8,500,000

    COMMERCIAL - Plantation Key, FL

    Property size:
    1,069 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $7,951/SF
    Added:
    Nov 15, 2024
    Days on Market:
    553
    Last Refresh:
    May 22 at 2:06 pm

    Property Features for 200 Treasure Harbor Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    MR - Marine Use
    Bathrooms
    4
    Rooms
    Bathroom 4, Bathroom 2, Bathroom 3, Bathroom 1
    Appliances
    Washer, Dryer
    Standard status
    Active
    APN
    00410540-000200
    Size
    1,069 SF
    Lot size
    1.09 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    TREASURE HARBOR SECTION 1 PLANTATION KEY PB4-44 PT OF MC KEES MUSEUM OF SUNKEN TREASURE INC TRACT OR783-1730/1731 OR102
    Tax Annual Amount
    22152

    Utilities

    Heating system
    Varies by Unit (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water front features
    Ocean Front
    Water front
    1

    Building Details

    Year built
    1948
    Floors in Building
    1
    Building materials
    CBS, Combo Construction
    Roof type
    Concrete, Metal

    We can help!

    Listing Contact
    Gregory Dully
    Gregory Dully

    Listing agent Gregory Dully License #3420625

    Listing office RE/MAX All Keys Real Estate 98880 Overseas Hwy., Key Largo, FL

    Listing date Nov 15, 2024

    MLS# 612264

    Copyright © 2026 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.

    HighLights

    • Very Profitable Marina & Unique Resort with reported $800,000+/yr NET Income (2025 projection) and offered at over 9.5% Cap rate.
    • Rare 1+ Acre Oceanside Lot with deep water protected harbor and 18 large boat slips accommodating 50+ ft. yachts.
    • Includes Successful Boat Rental Business with 17 boats and Lucrative Vacation Rental Business with (10) Aqua Lodges and 1 houseboat.
    • Fully equipped marina with water, new 30/50 Amp electric at each slip, fuel dock, office, ship store, workshop, garage/storage, and new waste/pump‑out station.
    • Recently added amenities: New Concrete In‑ground Pool, Deck, Fence, and brand new floating docks.
    • Manager on site handles responsibilities, allowing for absentee ownership.

    Overview

    This offering features a very profitable marina and unique resort located in Islamorada, FL. The business is included in the sale, with a reported net income exceeding $800,000 per year for 2025. The property is offered at over a 9.5% cap rate at the asking price. A manager is on-site to handle responsibilities, with oversight from the absentee owner. The property includes a rare 1+ acre oceanside lot with multiple potential uses. The deep water protected harbor features 18 large boat slips capable of accommodating yachts of 50+ ft. Approach depth is approximately 6 ft.+ at high tide with a clearly marked channel. A successful boat rental business with 17 boats is included in the sale, as well as a lucrative vacation rental business with 10 aqua lodges and 1 houseboat. Features include water, new 30 Amp and 50 Amp electric at each slip, a fuel dock, and a 1069 square foot concrete building with an office, ship store, workshop, and garage/storage. There are also 2 outdoor showers and 2 bath houses with indoor showers, stalls, and a dressing area. The property includes a new waste/pump-out station and fuel station. An additional separate concrete building is used for storage on the North side of the property. A new concrete in-ground pool, deck, and fence have just been completed, along with brand new floating docks. The property is zoned MR - Marine Use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bump and Jump Boat ... Boat Rental Service Treasure Harbor Resort ... Boat Rental Service Treasure Harbor Hotel & Motel Aqua Lodge Association / Organization

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plantation Key
    County
    Monroe
    State
    Florida
    Longitude
    -80.572066
    Latitude
    24.956857

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    FAQs

    What type of property is this?
    Marina - Profitable marina and resort with significant income potential.
    Where is this marina located?
    The property is located at 200 Treasure Harbor Drive Plantation Key, FL.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Very Profitable Marina & Unique Resort with reported $800,000+/yr NET Income (2025 projection) and offered at over 9.5% Cap rate.; Rare 1+ Acre Oceanside Lot with deep water protected harbor and 18 large boat slips accommodating 50+ ft. yachts.; Includes Successful Boat Rental Business with 17 boats and Lucrative Vacation Rental Business with (10) Aqua Lodges and 1 houseboat.
    (305) 900-4232
    We can help!
    Listing Contact
    Gregory Dully
    Gregory Dully
    Real Estate License ID: 3420625
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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