81908 Overseas Hwy Islamorada, FL 33036-3605
- Bars
- 3,995 SF
- 0.29 lot acres
Current Use by Public Records
- Bars
Property Details for 81908 Overseas Hwy
- Year built
- 1963
- Lot size
- 0.29 lot acres
- Property size
- 3,995 SF
- Property type
- Bars
- APN
- 00399280-000000
- APU
- 399280000000
Description
This exceptional 30,415 sq ft Islamorada property presents a unique redevelopment opportunity. Located on Overseas Highway with 100 ft of frontage, it boasts a 3,995 sq ft vacant building, previously a restaurant and bar, holding a coveted 5COP liquor license (no food sales required, package store permitted). The Village Center zoning allows for diverse uses including residential (single-family estate, multi-family compound, up to 8 units with additional TDRs), retail (package store, general store), hospitality (restaurants), and marina development. The property includes a bayfront boat basin with dockage for up to 7 vessels, plus potential for a 100 ft dock expansion, and deeded bay bottom. Three transferable development rights (TDRs) are also included. Two parcels are sold together. The property was built in 1963 and sits on a single-story building. Asking price is $7,500,000 ($1,877.35/sq ft).
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,820,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,785,000
- 6.5%
- $1,955,000
- 7%
- $1,930,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,635,000
- Geo Method
- $1,765,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,950,000
- Retail
- $1,605,000
- Mixed-Use
- $1,570,000
- Hospitality
- $1,575,000
- Educational
- $1,735,000
- Residential Income
- $1,625,000
- Energy
- $1,585,000
- Income-Based Land
- $1,980,000
- Food Service
- $1,640,000
Location Insight
- Map
- Local Demand
- City
- Islamorada
- County
- Monroe
- State
- Florida
- Longitude
- -80.6337
- Latitude
- 24.9199
- CBSA code
- 28580
- CBSA name
- KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA
