Updated 10 months ago on .
Looe Key Reef Resort
Investment Info:
Other commercial investment investment. Florida Keys
Asking Price: $13,900,000
Hotel/Bar & Restaurant/Dive & Snorkel Charter
Recent Appraisal 12.8M (FFE is an additional $500k) --- Business is for sale or looking for investor to build 25 condo units on property. Leaving the dive and bar business operational.
Licensing rights are already in hand. Average condo price 1.5M each With HOA fees average 1k monthly in the area.
Diving revenues 250-850k yearly depending on weather
Bar generates 1.2M yearly operating at roughly 45%
Approval for Liquor store on property adds 350k+ yearly
Located 25 minutes from Key West FL