The best view of the Gulf of Mexico!


This is a 28 Unit Beach Front Motel directly on the Gulf of Mexico, in Cedar Key, Florida. We have been able to negotiate a phenomenal price on this parcel because of the owners need to free up some capital. The complex was originally built in 1973, is two stories, concrete block, and 11,710 square feet. The parcel includes an onsite managers office as well as additional living quarters (mobile home). There is a beautiful in-ground pool overlooking the ocean as well.

This property is currently cash flowing with a Net Operating Income of around $200,000 annually. A detailed 3-Year financial breakdown and complete sales package are available upon request.

There is also a great opportunity to redevelop this parcel being that it has been approved for 13 residential lots (11 ocean front and 2 interior). There is obviously great potential here when the market turns around.

We are looking for a relatively quick, cash closing on this property. Take a look at this negotiated price and please call right away if interested.

 

Price: $2,650,000.00

Property Type: Multi-Family