90311 Old HwyIslamorada, FL 33036
- Retail properties
- 9,600 SF
Property Details for 90311 Old Hwy
- Year built
- 1981
- Lot size
- 0.63 AC
- Property size (Sq ft)
- 9,600 SF
- Property type
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $10,423,112
- 6.5%
- $9,621,334
- 7%
- $8,934,096
-
Comparable approach
- Method
- Valuation
- Relative Method
- $8,063,764
- Geo Method
- $8,063,764
-
Alternative Use
- Use
- Valuation
- Residential
- $8,115,955
- Hospitality
- $7,434,172
- Educational
- $6,185,144
- Medical
- $6,397,860
- Retail
- $9,621,334
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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