27340 Overseas Highway , Ramrod, FL 33042
Ramrod, FL 33042
Description
Discover a prime investment opportunity with this unique commercial property located on 1.67 acres along the scenic Overseas Highway of the Florida Keys. This site features an impressive 470' of highway frontage and sits on a 40' wide canal, providing excellent boating access and approximately 17 boat slips along the seawall. Transferable quota Liquor License was recently appraised at $800,000. This license would allow for an onsite Liquor Store as well. There are 25 Transient Licenses Transient Licenses were recently appraised at $200,000 each for a total of $5,000,000. Currently this business is operating as the Looe Key Reef Resort, this multifaceted, profitable business includes a dive shop, motel, swimming pool, snorkel and dive charter business offering dive instruction and trips to the Looe Key sanctuary, a large tiki bar, kitchen and restaurant, and onsite food truck. Development Potential: The existing motel presents an excellent opportunity for conversion into affordable/workforce housing, allowing for the strategic relocation of the 25 transferable transient licenses within unincorporated Monroe County. This flexibility opens doors for various development scenarios, catering to diverse market needs. Offers a strategic advantage with the ability to transfer transient licenses to another location within 14 miles noting that the receiving site may not be required to adhere to affordable housing requirements, enhancing the potential for development or redevelop the current property. With its prime location, extensive licenses, and existing business operations, this property stands out as a lucrative investment opportunity in the heart of Florida's beautiful Keys. Don't miss your chance to capitalize on this rare offering. Buyer to verify all information.
Details
| MLS# | 613450 |
|---|---|
| Listing Type | For Sale |
| Building Name | LOOE KEY REEF RESORT |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 81 |
| Listing Provided By | Bluescape Real Estate | Lanny Gardner |
Features
| Building(s) | 3 |
|---|---|
| Zoning | SC - Sub Urban Commercial Distri |
| Acreage | 1.67 |
| Water Front | Yes |
| Property View | Canal |
Market Activity 33042
The data relating to real estate for sale on this web site come s in part from the Internet Data Exchange program of the Marathon and Lower Keys Association of REALTORS®, Inc. MLS. Real Estate listings held by brokerage firms other than Key Colony Beach Realty, Inc. are marked with the MLS logo and detailed information about them includes the name of the listing broker’s office.
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Learn More About This Property
| State | FL |
|---|---|
| County | Monroe |
| City | Ramrod |
| Zip Code | 33042 |
| Area | 09 Ramrod Key |
| Community Name | Breezeswept Bch Est (27.5) |
| Listing VS Median (In Breezeswept Bch Est (27.5)) | |
Price: $13,965,000 low | high Med: $1,124,500 On site: 81 low | high Med: 94.000000 | |