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    Florida Keys Income-Producing Assets Title is generated by Realmo AI

    27340 Overseas Highway, Ramrod Key, FL 33042

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    For Sale
    $12,250,000

    COMMERCIAL - Ramrod Key, FL

    Lot size:
    1.67 Acres
    Added:
    Nov 21, 2025
    Days on Market:
    182
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 27340 Overseas Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    SC - Sub Urban Commercial
    Standard status
    Active
    APN
    00200900-000000
    Lot size
    1.67 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    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) OR396-1077
    Tax Annual Amount
    93581

    Utilities

    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water front
    1

    Building Details

    Year built
    1958
    Floors in Building
    2
    Number of units
    25
    Flooring type
    Concrete, Tile
    Roof type
    Other

    We can help!

    Listing Contact
    Team Gardner/Langley

    Listing agent Team Gardner/Langley License #BK612006

    Listing office Berkshire Hathaway HomeServices Knight & Gardner Realty 336 Duval St., Key West, FL

    Listing date Nov 21, 2025

    MLS# 617400

    Copyright © 2026 Key West Association 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

    • 25 Transient Rental Licenses: Highly valuable and potentially transferable, offering significant income potential.
    • Established 150‑Seat Restaurant: Includes a newer tiki structure, ideal for waterfront dining.
    • 25‑Room Hotel: Turnkey lodging operation benefiting from strong tourism demand.
    • Dive Shop & Vessel: Includes a 49‑passenger vessel with a 2COP bar license and established customer base.
    • 5COP Quota Liquor License (available separately): Allows for the sale of beer, wine, and spirits, enhancing restaurant/bar profitability.
    • Income‑Producing Assets: Rare combination of licenses, entitlements, and established businesses in the Florida Keys.

    Overview

    This sale encompasses a combination of income-producing assets, licenses, and entitlements in the Florida Keys. It features 25 transient rental licenses, currently in use and potentially transferable to another qualifying development, subject to approvals. A 150-seat restaurant is included, featuring a newer tiki structure suited for waterfront or resort-style dining. A separately available 5COP quota liquor license allows for the sale of beer, wine, and spirits for on-premises consumption, also allowing for packaged liquor sales. The sale also includes a 25-room hotel, benefiting from transient licenses and Florida Keys tourism. A dive shop and vessel are part of the offering, including a 49-passenger coast guard approved vessel with its own 2cop bar license allowing for wine and beer sales, retail/gear component, and a established customer base. The property is located in Ramrod Key, FL 33042 and has a lot size of 1.67 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Snorkel, Scuba Dive, ... Swimming Pool Looe Key Reef ... Hotel & Motel Tranquility Bay Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Auto Parts Store Bar & Pub Food Market Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ramrod Key
    County
    Monroe
    State
    Florida
    Longitude
    -81.40633
    Latitude
    24.661777

    FAQs

    What type of property is this?
    Hotel - Rare opportunity: licenses, restaurant, hotel, dive shop, and vessel.
    Where is this hotel located?
    The property is located at 27340 Overseas Highway Ramrod Key, FL.
    What is the asking price?
    The asking price for this property is $12,250,000.
    What are key features of this property?
    This property features: 25 Transient Rental Licenses: Highly valuable and potentially transferable, offering significant income potential.; Established 150‑Seat Restaurant: Includes a newer tiki structure, ideal for waterfront dining.; 25‑Room Hotel: Turnkey lodging operation benefiting from strong tourism demand.
    (305) 902-2447
    We can help!
    Listing Contact
    Team Gardner/Langley
    Real Estate License ID: BK612006
    Request Owner's contact information
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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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