700 W Ocean Drive, Key Colony, FL 33051 (MLS# 613586)

700 W Ocean Drive, Key Colony, FL 33051

$3,000,000

Property Type: Commercial Sale Bedrooms: 1 Baths: 4 Square Footage: 11,226 Lot Size (sq. ft.): 55,250 Status: Closed

Current Price: $3,000,000 List Date: 2/07/2025 Last Modified: 8/31/2026

Overview

Description

Prime trophy property on Key Colony Beach For Sale! Now Vacant and available immediately! This landmark & well known Restaurant and Bar has been owned, and in the past operated, by the same owner since 1990. Large 1.27 Acre lot in the heart of Key Colony Beach is very visible and has ample parking for customers and employees with 312' of frontage on W. Ocean Dr. There are two free-standing buildings on site. The main building houses the Restaurant, Bar and Banquet Hall & totals 8,436 sf. of finished sq. ft. Second building totals 2,790 sf. and has another kitchen and work areas that are somewhat unused. This is a whopping total of 11,226 sf. of finished sq. ft. for both buildings which is extremely hard to find anywhere in the Keys. Existing State Food Service License for 150- 249 Seats, KCB Cafe/Restaurant License for 150 Seats and a full liquor 5-COP-SRX liquor license that is non transferrable. Also, there is a 2b/1 ba apartment on the 2nd floor. There is an opportunity to f ... (Read more)

Listing Details MLS# 613586

Location, Tax & Legal

Street #: 700
Direction: W
Street Name: Ocean
Street Suffix: Drive
Key/Island: Key Colony
State/Province: FL
Zip Code: 33051
Subdivision: Key Colony Bch 1st Addn Amd Plat (53.5)
County: Monroe
Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony

Contract Information

Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: No
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Species List: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 55250
Waterfront: No
Business Name: Not included
Year Established: 1989-12-31
# Parking Spaces: ample
Off Street Parking: yes
# Stories: 2
Total # Buildings: 2
Building SqFt: 11226
SqFt Source: Tax Records
Living Apx SqFt: 11226
Year Built: 1990
Total Bedrooms: Yes
Full Baths: Yes
Half Baths: 3
Total Baths: 4

Status Change Info

Under Contract Date: 2025-10-22
Leased Date: 2025-10-31
Sold Comments: Price included Vacant Lot

License Info

# of City License: 2

Association Info

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

More Information

Misc Property Info

Recorded Plat: Yes

Property Info

# Kitchens: 2

Auction Info

Auction: No

Financial Status

Bank Owned: No
Potential Short Sale: No

Property Features

License Info: SRX (Non-Transferab) Type: Bar; Restaurant Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Central Air Utilities: FKAA; Municipal Sewer Appliances: No Appliances Miscellaneous: High Traffc Location; High Visibility Construction: CBS; Other Electric: Three Phase Shutters: Other Floor: Other Roof: Other Roof Land Size: 1 Less Than 2 Acres Fee Includes: None Terms: Seller Finance Psble Title: Negotiable Tenant Paid: Cable; Electric; Garbage; Gas; Insurance; Taxes; Water

Listing Office: RE/MAX Keys Connection (KW)

Last Updated: August - 31 - 2026

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.