Waterfront Restaurant and Marina in Key Largo!

Key Largo, FL (Monroe County)

Seller Financing Available
Waterfront Restaurant and Marina in Key Largo!

Asking Price:$7,500,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Real Estate:N/A

Established:1998

Waterfront Restaurant and Marina in Key Largo!

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Business Description

Come by boat for lunch, brunch, dinner or cocktails!
Rare opportunity to own one of Key Largo's finest and well established waterfront 150 seat restaurants with an indoor bar and outdoor Tiki-bar, full liquor license, immaculately maintained. The restaurant, lovely nestled, cozy inside with a tropical atmosphere is open for lunch, dinner and Sunday brunch. It is one of the locals’ favorite receiving continuing awards for it’s quality dinning with a beautiful wine selection and live music on selected nights. The full service marina offers 16 wet slips to accommodate boats up to 44' and 122 dry slips/storage racks for 35' boats with potential for much more. There is fuel, a limited service boatyard, and boat sales. Restaurant is turn key as well as the marina including two forklifts, a rail hoist, 2000 gallon newer gas tank, 2- 250 gallon diesel tanks and pumps. In addition, there are 5 separate parcels included, two single family residential lots (plans on file and permitting started) and 3 commercial lots (site plan on file) on the Overseas Highway. Record #'s the past years! This is a unique opportunity to acquire an income producing jewel with potential for development and growth. Owner retiring, don't miss out!

Key Largo is the first and longest Key, 33 miles long, in the island chain of the Florida Keys with an easy commute to the two major airports, Fort Lauderdale and Miami. The restaurant industry sales are representing the seventh consecutive year of real growth. Given Key Largo's remarkable land and water scenery with a steady stream of year-round tourism with national and international visitors, the Florida Keys overall have shown a successful rate of revenue and occupancy over the past few years, and developers/investors know it’s a sound place to put their money.

Detailed Information

Real Estate:
Owned
Building SF:
12,257
Employees:
29
Facilities:
Come by boat for lunch, brunch, dinner or cocktails! Rare opportunity to own one of Key Largo's finest and well established waterfront 150 seat restaurants with an indoor bar and outdoor Tiki-bar, full liquor license, immaculately maintained. The restaurant, lovely nestled, cozy inside with a tropical atmosphere is open for lunch, dinner and Sunday brunch. It is one of the locals’ favorite receiving continuing awards for it’s quality dinning with a beautiful wine selection and live music on selected nights. The full service marina offers 16 wet slips to accommodate boats up to 44' and 122 dry slips/storage racks for 35' boats with potential for much more. There is fuel, a limited service boatyard, and boat sales. Restaurant is turn key as well as the marina including two forklifts, a rail hoist, 2000 gallon newer gas tank, 2- 250 gallon diesel tanks and pumps. In addition, there are 5 separate parcels included, two single family residential lots (plans on file and permitting started) and 3 commercial lots (site plan on file) on the Overseas Highway. Record #'s the past years! This is a unique opportunity to acquire an income producing jewel with potential for development and growth. Owner retiring, don't miss out! Key Largo is the first and longest Key, 33 miles long, in the island chain of the Florida Keys with an easy commute to the two major airports, Fort Lauderdale and Miami. The restaurant industry sales are representing the seventh consecutive year of real growth. Given Key Largo's remarkable land and water scenery with a steady stream of year-round tourism with national and international visitors, the Florida Keys overall have shown a successful rate of revenue and occupancy over the past few years, and developers/investors know it’s a sound place to put their money. (Home Based)
Competition:
There were 2 other restaurant sales in Key Largo in the past 2 years. Snappers sold in 2015 for $7,1M and Gilberts sold in 2014 for $11,2M. This is the next restaurant comparable to the other 2 in size and income and the only one on the market. Will be a great purchase for the new buyer.
Growth & Expansion:
A steady stream of year-round tourism with international tourists and families increasing. The Florida Keys overall have shown a successful rate of revenue and occupancy over the past few years, and developers know it’s a sound place to put their money.
Financing:
maybe
Reason for Selling:
Retirement
Home-Based:
This business is Home-Based
Business Website:
http://www.myvisuallistings.com/vt/221351

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Monika Sundstrom

Business Listed By:
Monika Sundstrom

Engel & Voelkers Jupiter, RE

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