700 W Ocean Drive , FL - KEY COLONY
1 Beds, 1 Baths (full), Commercial
Prime trophy property on Key Colony Beach now for sale. 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 fully utilize the building by adding Catering and more Special Events, Weddings, Parties, Meetings, etc.Zoning on Key Colony Beach is B-1, Neighborhood Business District which does allow for many Commercial uses.Property is currently leased and existing business and F, F & E not included at this time. See List Broker for details. In addition to this parcel, there is an adjoining 28,205 sf. Vacant Land parcel that may or may not be included. Roughly 147 x 191 rectangle shape. Zoning in this parcel is R-3, Multi -Unit Residential and may allow for up to 5 units to be built. Note KCB is ROGO Exempt. MLS# 613589 Price for this vacant lot is an additional $1 Million.Seller may consider Owner Financing to a Qualified & Crediworthy Buyer at Owners sole discretion.
Listing Summary for 700 W Ocean Drive
Price:
$3,500,000
Bedrooms:
1
Bathrooms:
1
Half Baths:
n/a
Square Footage:
11,226
Lot Sq. Ft.:
55,250
Year Built:
n/a
Property Type:
Commercial
Sub-Type:
Commercial
MLS® #:
613586
Status:
Active
Address:
700 W Ocean Drive
City:
Key Colony
State:
FL
Zip:
33051
County:
Monroe
Key:
Key Colony
Side of Island:
Ocean
Community:
Key Colony Beach 1st Addn Amd Plat
Mile Marker:
53.50
Tax Year:
2024
Date Listed:
02-07-2025
Additional Information
Is Waterfront:
No
Waterfront Type:
n/a
View
n/a
Has Pool:
n/a
Pool Info:
n/a
Short Sale:
No
Foreclosure:
No
Pets:
n/a
Docakge Type:
n/a
Dockage Length:
n/a
Dockage Seawall:
n/a
Dockage Construction:
n/a
Security:
n/a
Building Construction:
n/a
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The information being provided by the Florida Keys MLS is exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. The MLS data provided for the property above (613586) is provided courtesy of (RE/MAX Keys Connection (KW)). Data last updated on 03-03-2025.
