90311 Old HwyIslamorada, FL 33036

Property Details for 90311 Old Hwy

Year built

1981

Lot size

0.63 AC

Property size (Sq ft)

9,600 SF

Property type

Community centers

APN

00436050-000000

APU

436050000000

Description

This exceptional waterfront investment property in Tavernier, Florida, presents a rare opportunity to acquire a highly visible, established business with significant development potential. The property encompasses four parcels totaling 9,600 square feet of building space, including the iconic Landmark Restaurant situated directly on Old Highway and Route 1, boasting 250 feet of road frontage. The property features over 713 feet of seawall and dockage, accommodating approximately 22 deep-water slips with direct ocean access. This turnkey operation includes a substantial existing restaurant, providing immediate income potential. Ample parking is available across the four parcels (Parcel ID #'s-00436050, 00436680, 00436090, 004366700). Adding to the value is a separate 1,114 square foot, two-story, concrete block single-family home located at 103 Harbor Drive, offering additional residential or management possibilities. The property's prime location and established infrastructure make it an ideal investment for both seasoned operators and those seeking a high-return waterfront venture. The property is priced at $8,900,000 and offers a unique blend of commercial and residential components in a highly desirable location. This is a truly exceptional opportunity to own a piece of Tavernier's vibrant waterfront.

• CAP approach

  CAP return

  Valuation

  6%

  $7,866,980

  6.5%

  $7,261,830

  7%

  $6,743,130

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,327,900

  Geo Method

  $3,327,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $13,887,900

  Mixed-Use / Specialty

  $7,346,400

  Hospitality / Lodging

  $5,533,630

  Office

  $7,417,810

  Institutional / Educational

  $7,676,770

  Residential Income

  $8,981,830

  Multifamily

  $10,159,900

  Automotive / Energy

  $6,580,090

  Parking / Income-Based Land

  $2,161,580

  Restaurant / Food Service

  $4,056,660

  Healthcare / Senior Housing

  $7,420,320

Location Insight

City

Tavernier

County

Monroe

State

Florida

Latitude

24.9998

Longitude

-80.5366

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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