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Florida City - Key Largo Corridor
4.9 Acres of Commercial Land Offered at $4,500,000 in Homestead, FL 33035
Investment Highlights
- great exposure, grand-fathered zoning designation
- Operates on a she string budget and always full
- Plenty of traffic and easy to monetize
Executive Summary
The marina is full rented and operates as a self service operation. Boats hardly move they basically pay rent to be there. A restaurant or other development would be ideal. The property has a hard left hand turn on US1. B2-3 zoning in Miami-Dade County.
The road sign revert to the property in 3 years adding another $8,000 to the bottom line per month, or can be converted to a digital sign which will generate $25,000 per month. The marina currently generates $20,000 a month in revenue with very little effort. The slip rents are relatively low, with minimal turnover. Ideally adding food and drink to the revenue source.
Financial Summary (Actual - 2023) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$240,000
|
$48,979.59
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Net Operating Income | |
|---|---|
| Annual | $240,000 |
| Annual Per AC | $48,979.59 |
Property Facts
| Price | $4,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Bulk/Portfolio Sale | Proposed Use | Marina |
| No. Lots | 1 | Total Lot Size | 4.90 AC |
| Price | $4,500,000 |
| Sale Type | Investment |
| Sale Conditions | Bulk/Portfolio Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Marina |
| Total Lot Size | 4.90 AC |
1 Lot Available
Lot
| Price | $4,500,000 | Lot Size | 4.90 AC |
| Price Per AC | $918,367 |
| Price | $4,500,000 |
| Price Per AC | $918,367 |
| Lot Size | 4.90 AC |
Sailboat marina at the entrance to the Florida Keys. Property is in Miami Dade County and has a liberal commercial zoning designation( B3). This site is ideal for development.
Description
South Dade Marina Summary Address: 54409 S. Dixie Highway (US1) Miami, FL 33035( on the Florida City to Key Largo US1 corridor) Folio: Miami Dade County: 30 9928 000 0030 Zoned: commercial with very valuable airport /terminal or marina primary use designation. Acres: 4.90 net, 213,616.24 sqft. Price: $4.5 million Position : East side of US1 , direct access to Manatee Bay and open ocean. Formal hard turn entrance directly on US1. Permitted wet boat slips: 27 Permitted dry boat slips: 25 The canal leads out to Manatee Bay without any fixed bridges. Property extends to the other side or south side of the canal. The bottom of the canal is also part of this property. The property has a fixed boat ramp on the western side of the property with direct access to the bay. Two buildings are on the site, one was a single-family residence now used as a workshop, and a restaurant now used as an office. The property has a two-side jumbo billboard sign (currently in a prepaid lease that reverts back to the property in under 3 years). The sign should generate an additional $8000 per month. Current monthly net $20,000. The property has a FISHCAMP designation since 1950’s, that allows the property to house RV trailers and short-term cabin rentals. This is perfect for AirBnB rentals, currently it has 3 motorhomes rented on site. The big value is the underlying zoning of B3. ( extremely liberal commercial).
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 (2024) | |
| Land Assessment | $2,800 (2024) | Total Assessment | $803,545 (2024) |
PROPERTY TAXES
zoning
| Zoning Code | B-2 (Zoned B3 liberal commercial. Operating as a sailboat marina, but still has Fish Camp Designation that allows food sales, & short term rental housing.) |
| B-2 (Zoned B3 liberal commercial. Operating as a sailboat marina, but still has Fish Camp Designation that allows food sales, & short term rental housing.) |
-
Raymar Rodriguez -
Berkshire Hathaway HomeServices Florida Realty
Presented by
Florida City - Key Largo Corridor
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