81901 Overseas HwyIslamorada, FL 33036

Property Details for 81901 Overseas Hwy

Year built

1947

Lot size

0.38 AC

Property size (Sq ft)

4,942 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

00400070-000000

APU

400070000000

Description

This exceptional turnkey restaurant opportunity is located at 81901 Overseas Hwy, Islamorada, FL, boasting a highly visible corner lot on US-1. The 4,942 square foot building sits on a 0.38-acre lot (16,746 sq ft) and is zoned Village Center, allowing for diverse uses. This established restaurant comfortably seats 160 patrons and benefits from ample parking, easily accessible from US-1, Blackwood Drive, and Old Highway. Its prime location places it within walking distance of luxury resorts, upscale shops, art galleries, and other popular Islamorada attractions. The sale includes all furniture, fixtures, and equipment (FF&E), a food truck, and a transferable liquor license. A significant advantage is the existing, long-term local staff, ready to continue operations. This presents a unique chance to either maintain the existing successful business or implement a new concept in this highly sought-after Islamorada market. The property is situated in an 'X' flood zone. This is a rare opportunity to acquire a thriving restaurant with significant potential in a prime location. The asking price is $2,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,363,466

  6.5%

  $4,950,892

  7%

  $4,597,257

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,149,598

  Geo Method

  $4,149,598

• Alternative Use

  Use

  Valuation

  Residential

  $4,176,263

  Hospitality

  $3,825,434

  Educational

  $3,182,716

  Medical

  $3,292,175

  Retail

  $4,950,892

Location Insight

City

Islamorada

County

Monroe

State

Florida

Latitude

24.919

Longitude

-80.6337

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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