90311 Old HwyIslamorada, FL 33036

  • Retail properties
  • 9,600 SF
For Sale
$8,900,000 View listing

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
90311 Old Hwy, Islamorada, Florida

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$20,387
$1,715,175
$768,501
$2,483,676
-
$1,715,175
$768,501
$2,483,676

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