About 27340 Overseas Highway
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.
