$9,000,000
Key Largo, FL 33037
MLS# 602684
Status: Closed
5 beds | 7 baths | 6740 sqft
1 / 106
Property 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.
Details
Maps
Documents
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
Confidential and Non-Discloser Agreement 
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.