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139 Seaside Avenue, Key Largo, FL 33037

$9,000,000
Property Type: Commercial Bedrooms: 5 Baths: 7 Square Footage: 6,740 Lot Size (sq. ft.): 103,364 Status: Closed
Current Price: $9,000,000 List Date: 5/05/2023 Last Modified: 9/10/2024

Description

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.

More Information MLS# 602684

Contract Information

Listing Board: Key West Association Limited Representation: No Potential Short Sale: No Bank Owned: No Current Price: $9,000,000 Listing Date: 2022-10-06 Sold Price: $9,000,000

Location, Tax & Legal

City: KEY LARGO Mile Marker: 94.5 Marathon Neighborhood: N/A Side: Ocean Flood Zone: VE,VE,AE,AE,VE,AE Alternate Key #: 1608505 Add'l Parcel #1: 00491700-000000 Parcel #: 00492290-000000 Add'l Parcel #2: 00491590-000000 Zoning: SC - Sub Urban Commercial District 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 Taxes: 49588 Tax Year: 2021 Street #: 139 Street Name: Seaside Street Suffix: Avenue Key/Island: Key Largo State/Province: FL Zip Code: 33037 Subdivision: Seaside Sub (94.5) County: Monroe Area: 26 - Key Largo S of MM 96.9

General Property Description

Realtor.COM Type: Commercial Waterfront: Yes Control Depth: 5 Lot Size: 2.37 ac Lot SqFt: 103364 Business Name: Snappers Key Largo Total Units: 6 Year Established: 1960-01-01 # Parking Spaces: Ample Off Street Parking: Ample # Stories: 2 SqFt Source: Property Data Card Total # Buildings: 3 Building SqFt: 6740 Style: Commercial Living Apx SqFt: 6740 Year Built: 1958 Total Bedrooms: 5 Full Baths: 5 Half Baths: 2 Total Baths: 7

Remarks & Misc

Remarks – Consumer: 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. Directions: Mile Marker 94.5 on Overseas Hwy exit Oceanside onto Ocean View Blvd to Seaside Ave.

Status Change Info

Sold Comments: Great job RE/MAX All Keys Commercial Team Sold Date: 2024-03-21 Sold Price: $9,000,000 Status: Closed

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

License Info

# of Transient Licns: 4 SRX (Non-Transferab): 1

Type

Apartment 3 or more: 1 Bar: 1 Marina: 1 Restaurant: 1

Fee Includes

None: 1

Dockage

Boat Slip: 1 First Come Dock: 1 Seawall: Concrete Other Dockage: 1

Property Info

# Boat Slips: 12 # Kitchens: 1 # Efficiencies: 4

Cooling

Ceiling Fans(s): 1 Central Air: 1

Waterfront

Oceanfront: 1

Electric

Circuit Breakers: 1 Three Phase: 1

Waterview

Ocean View: 1

Interior Features

Furnished: 1

Vehicle Storage

Car(s): 4+ Guest Parking: 1 Off Street Parking: 1

Construction

CBS: 1 Frame: 1

Land Size

2 Less Than 5 Acres: 1

Terms

No Seller Finance: 1

Utilities

FKAA: 1 Municipal Sewer: 1 Propane: 1

Title

Negotiable: 1

Property Rights

Beverage License: 1 Transient License: 1

Miscellaneous

High Traffc Location: 1 High Visibility: 1 Highway Frontage: 1 Open Water View: 1

Auction Info

Auction: No

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

License Info: SRX (Non-Transferab) Type: Apartment 3 or more; Bar; Marina; Restaurant Waterfront: Oceanfront Waterview: Ocean View Dockage: Boat Slip; First Come Dock; Other Dockage Vehicle Storage: Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air Utilities: FKAA; Municipal Sewer; Propane Interior Features: Furnished Miscellaneous: High Traffc Location; High Visibility; Highway Frontage; Open Water View Construction: CBS; Frame Electric: Circuit Breakers; Three Phase Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: No Seller Finance Title: Negotiable Property Rights: Beverage License; Transient License

Documents

Listing Office: RE/MAX Keys Connection (KW)
Last Updated: September - 10 - 2024
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.
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