92661 Overseas HwyTavernier, FL 33070

Property Details for 92661 Overseas Hwy

Year built

1973

Lot size

0.43 AC

Property size (Sq ft)

1,796 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

00490210-000100

APU

490210000100

Description

This exceptional investment opportunity presents a thriving franchise restaurant and accompanying real estate in the desirable Tavernier, Florida location at 92661 Overseas Highway. The free-standing building boasts a highly sought-after drive-through, a significant advantage in this market. Currently operating as a successful franchise with a full lunch and dinner menu, the business generates a substantial net income, yielding an approximate 10% return on the asking price of $2,400,000 with minimal owner involvement. A capable general manager is in place, and the majority of employees are committed to continuing under new ownership. The sale includes all furniture, fixtures, and equipment. Strategically positioned in a median location, the property enjoys excellent visibility and benefits from its proximity to the new Tavernier Publix supermarket and over eighty planned new housing units, ensuring a robust customer base. Convenient access to northbound and southbound traffic further enhances its appeal. The limited competition for soft-serve ice cream and the established presence of a popular ice cream brand add to the property's value. The ample parking on the large lot caters to the needs of customers. The current franchise agreement has approximately 11 years remaining, offering long-term stability. However, the franchise is optional, allowing for flexibility in future operations and potential conversion to another restaurant concept. This turnkey business presents a rare opportunity to acquire a profitable enterprise with significant growth potential in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,950,436

  6.5%

  $1,800,402

  7%

  $1,671,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,508,903

  Geo Method

  $1,508,903

• Alternative Use

  Use

  Valuation

  Residential

  $1,518,706

  Hospitality

  $1,391,127

  Educational

  $1,157,401

  Medical

  $1,197,206

  Retail

  $1,800,402

Location Insight

City

Tavernier

County

Monroe

State

Florida

Latitude

25.0168

Longitude

-80.5115

CBSA code

28580

CBSA name

KEY WEST-MARATHON, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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