Listing ID602684
Sold For$9,000,000$3.5M
StatusClosed
Sold Date3/21/2024
Bedrooms5
Total Baths7
Full Baths5
Partial Baths2
SqFt
6,740
CountyMonroe
SubdivisionSeaside Sub (94.5)
Year Built1958
Property TypeCommercial
Property Sub TypeCommercial
Once in a lifetime opportunity to purchase Snappers Key Largo Restaurant & Bar, an iconic Key Largo establishment with a 40+ yr. track record of success. There are very few direct Oceanfront Restaurant & Bars in the Upper Keys and very limited waterfront competition. Indoor & Outdoor patio seating with 12 wet boat slips overlooking the Atlantic Ocean. Restaurant is licensed for over 250 Seats. Restaurant & kitchen were totally rebuilt with all new Furniture, Fixtures & Equipment plus most of the electric & plumbing all updated in 2018. Includes 4 unique hotel rooms on 2nd floor with transient license & 2 bd house for employees. Fully approved & permitted Plans to rebuild the Turtle Club as well as Food Truck included. Turtle Club will be an elevated Oceanfront building with a new bar and seating overlooking open Atlantic Ocean. This will add tremendous growth to top and bottom line income. Overall, there are 4 large lots included with a total of 2.37 ac. of Uplands and .57 Ac of submerged baybottom that is owned, not leased. In addition, the corner lot on the highway is included with a large sign that is very visible to both N & S bound traffic. There is ample customer and employee parking which is rare and valuable. Strong financial numbers both Gross & Net. Room to substantially grow income by adding daily lunch, breakfast and rebuilding the Turtle Club. Also may be suitable for franchising opportunities as all IP is included and fully trademarked.
County
Monroe
Half Baths
2
Property Sub Type
Commercial
Property Type
Commercial
Subdivision
Seaside Sub (94.5)
Year Built
1958
Zoning
SC - Sub Urban Commercial District
Appliances: Other
YES
Cooling/Heating
Ceiling Fans(s), Central Air
Interior Features
Furnished
Number of Efficiencies
4
Number of Kitchens
1
Number of Stories
2
SqFt Source
Property Data Card
Construction
CBS, Frame
Control Depth
5
Dockage
Boat Slip, Other Dockage, First Come Dock
Electric
Circuit Breakers, Three Phase
Flood Zone
VE,VE,AE,AE,VE,AE
Land Size
2 Less Than 5 Acres
Lot Size
2.37 ac
Lot SqFt
103364
Number of Boat Slips
12
Off Street Parking
Ample
Seawall
Concrete
Side
right
Style
Commercial
Total Number of Buildings
3
Total Units
6
Vehicle Storage
Guest Parking, Off Street Parking
Vehicle Storage: Car(s)
4+
Waterfront
yes
Waterfront Type
Oceanfront
Waterview
Ocean View
Area
26 - Key Largo S of MM 96.9
Key/Island
Key Largo
Mile Marker
94.5
Parcel Number
00492290-000000
Business Name
Snappers Key Largo
Days On Market
531
Miscellaneous
High Traffc Location, Open Water View, Highway Frontage, High Visibility
Type 2
Apartment 3 or more,Restaurant,Marina,Bar
Utilities
FKAA, Propane, Municipal Sewer
Year Established
1960-01-01
1st Right of Refusal
no
Auction
no
Bank Owned
no
Fee Includes
None
Financial Status: Bank Owned
no
Financial Status: Potential Short Sale
no
HOA
no
Legal
RE-SUB SEASIDE PB2-10 KEY LARGO PT SQR 4 PB2-10 A/K/A LOTS 1 & 2 SQR 4 PB1-97 & BAY BTM ADJ TO LOTS 1 & 2 & PT GOV LOT 4
License Info
SRX (Non-Transferab)
Net Leasable Area
6740
Number of Transient License
4
Potential Short Sale
no
Property Rights
Beverage License, Transient License
Tax Year
2021
Taxes
49588
Terms
No Seller Finance
©2024 Florida Keys MLS, Inc. The data relating to real estate for sale on this web site comes in part from the Florida Keys Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Information is deemed reliable but not guaranteed. Data last updated: Thursday, March 28th, 2024 at 01:14:55 PM.
Contact - Listing ID 602684
BASCOM GROOMS
1110 Truman Ave
KEY WEST, FL 33040
Phone: 3052957511
Fax: 3057680171
Data services provided by IDX Broker