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Island Hotel Bed & Breakfast




Restaurant & Bar
373 2nd Street
Cedar Key, Fl  32625

Turnkey Offering
Sales Price: $2,000,000




The Island Hotel is a rustic beachy Inn, Restaurant & Bar located in the quaint little town of Cedar Key. There are 10 Guest Rooms, 60 Seats inside the restaurant and 35 in the Bar. The outside courtyard can also hold 60 seats with an outdoor Bar. There is seating off the porch of the restaurant as well. Cedar Key has fewer than 1,000 permanent residents and a fascinating history as it’s Florida’s second oldest town. Many say it’s what Key West was like 50 years ago. The town was founded in the 1850s but in 1861 it became the western station on the Florida Railroad, the first link across the state, originating in Fernandina on Amelia Island. Cedar Key is a clamming, fishing, and artist village. The village holds a few festivals a year like the Spring Sidewalk Art Festival and the Fall Seafood Festival, that each attract thousands of visitors to the area.

Cedar Key is one of the oldest ports in the state, and when Florida’s first railroad connected it to the east coast, it became a major supplier of seafood and timber products to the Northeast. Today, it has become a haven for artists and writers, who find the unspoiled environment inspirational to their work. Many people visit each year to walk the historic streets, browse the shops and galleries, explore the back bayous, and enjoy the world-famous restaurants, featuring seafood fresh from local suppliers

For the nature lover, besides world-famous fishing and bird watching, you can find fabulous nature trails to walk in the nearby Lower Suwannee National Wildlife Refuge. Guides are available to take parties for off-shore trips to the outer islands. A public marina with boat docking is available. Federally protected sanctuaries, the Cedar Keys form a chain of barrier islands, ideally suited to a vast range of migratory and shore birds, including the elusive white pelican, roseate spoonbill and bald eagle. The variety of natural habitats, from salt marshes to Indian shell mounds, makes this truly a nature lover’s paradise.
Marketing & Financial Package

Details

  • 10 Guest Rooms with private baths
  • Plus Private Owner’s Quarters, Living Area, Bedroom, Full Bath, mini Kitchenette
  • Restroom for Bar & Restaurant Area
  • Full Bar – 35 Seats
  • Full Restaurant – 60 Seats
  • Outside Courtyard Seating – 60 Seats
  • Outdoor Porches
  • Zoning: Multi Family MF-20
  • 10,012 Area; 7,500 Square Feet Air Condition in Main House
  • 2838 Area; 1,204 Square Feet Air Conditioned.
  • Levy County
  • Year Built 1859– National Register of Historic Places - Main House
  • Year Built: 1901 Owner’s Quarters Building
  • Large Storage Room
  • Commercial Kitchen
  • Yearly Average Occupancy: 2017 BnB: 64%
  • Gross Revenue 2017: $889,956.34
  • NOI: $255,119.62
  • Cap Rate: 12.76