700 Ocean dr - Restaurant FOR SALE


Key Colony Beach, FL 33051
$3,500,000 USD
305-304-0084
700 Ocean dr, Key Colony Beach, FL for Sale
$3,500,000 USD
Restaurant - FOR SALE
1/32
null | Request Cap Rate

700 Ocean dr
Key Colony Beach, FL 33051


OVERVIEW

Prime trophy property on Key Colony Beach now for sale. This landmark & well known Restaurant and Bar has been owned, and in the past operated, by the same owner since 1990. Large 1.27 Acre lot in the heart of Key Colony Beach is very visible and has ample parking for customers and employees with 312' of frontage on W. Ocean Dr. There are two free-standing buildings on site. The main building houses the Restaurant, Bar and Banquet Hall & totals 8,436 sf. of finished sq. ft. Second building totals 2,790 sf. and has another kitchen and work areas that are somewhat unused. This is a whopping total of 11,226 sf. of finished sq. ft. for both buildings which is extremely hard to find anywhere in the Keys. Existing State Food Service License for 150- 249 Seats, KCB Cafe/Restaurant License for 150 Seats and a full liquor 5-COP-SRX liquor license that is non transferrable. Also, there is a 2b/1 ba apartment on the 2nd floor. There is an opportunity to fully utilize the building by adding Catering and more Special Events, Weddings, Parties, Meetings, etc. Zoning on Key Colony Beach is B-1, Neighborhood Business District which does allow for many Commercial uses. Property is currently leased and existing business and F, F & E not included at this time. See List Broker for details. In addition to this parcel, there is an adjoining 28,205 sf. Vacant Land parcel that may or may not be included. Roughly 147' x 191' rectangle shape. Zoning in this parcel is R-3, Multi -Unit Residential and may allow for up to 5 units to be built. Note KCB is ROGO Exempt. MLS# 613589 Price for this vacant lot is an additional $1 Million. Seller may consider Owner Financing to a Qualified & Creditworthy Buyer at Owners sole discretion.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$312 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Key Colony Inn

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.27 AC

LAND SF

55,250 SF

ZONING

B-1

APN/PARCEL ID

00074740-000000

ASK ABOUT THIS PROPERTY

Curtis A. Skomp, CCIMLoopnet LeadMore Info
305-304-0084

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Curtis A. Skomp, CCIMLoopnet LeadMore Info
305-304-0084

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.