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3591 S Roosevelt Boulevard - Oceanfront Commercial Complex, Key West, FL

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3591 S Roosevelt Boulevard - Oceanfront Commercial Complex

Key West, FL 33040

Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:1963
Building Size:21,582 SF Land Area:1.32 AC (57,499 SF)
For Sale Price:$5,750,000 Price/SF:$266.43
Cap Rate:7.50 %
Parking:67 Surface spaces are available; Ratio of 3.02/1,000 SF

Sale Notes:
Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. The two restaurants and large rear underutilized warehouse deliver 21,582 SF of space. With parking for over 75 cars in the rear and 24 leased spaces, there is further mixed use development opportunity on the property as well. Price is for land and real estate only. This property is being sold as a restaurant leasehold opportunity with leases in place; a turn-key Benihana International franchise owned by the owner of the real estate and a leasehold on an upscale Key West Italian restaurant brand La Trattoria. Tenant on property will deliver a cap rate of over 7.5%.
The property is located directly on A1A. This is a major oceanfront highway in Key West leading to the islands public beaches and resorts.

BHHS Knight & Gardner Realty
Claude J Gardner
(305) 766-3133

Will Langley
(305) 294-5155

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