Old Town Busniess Opportunity - Key West

Except for the unfortunate few who run afoul of the law while spending a few days in our little island paradise, I'll bet most visitors wonder what life would or could be like if they quit their jobs and moved to Key West.

I fell in love with Key West the very first time I came here. That was along time ago before all the gentrification happened.  Most of the houses in Old Town looked like they were ready to fall down. Conch cruisers (rusted old cars) looked to me to be the primary means of transportation. Key West seemed like a third world country back then. But in spite of all the negatives about Key West (which I now admit were positives), I pondered what I could do to earn enough money to live in this magical island. Before moving to Key West I used to be a lawyer and then a banker.  I did not want to do either in Key West - to me a place not of that other world out there - up in America. I eventually moved here, bought a business, and later go a real estate license. I work way too much, but I enjoy what I do.

Just Listed by Preferred Properties Key West is THIRSTY'S at 531 Greene Street.  Thirsty's is a convenience store in a great tourist location about 150 feet east of Sloppy Joes and one block west of the Historic Seaport. The Pier House and the Hyatt Hotel are one block  north. Thousands of tourist pass by this location daily.

Thirsty's sells made-to-order sandwiches, ice cream, cold drinks, hot coffee, beer and wine, breakfast, cigarettes, sun tan lotion, and a myriad of products tourists need.  All inventory and sales are tracked on computer making it easy for an owner to monitor sales and production any time that he or she is not in the store. There is TV system which provides the owner with multiple views on iphone at any location in the world. The is a Business Opportunity. No real estate conveys.

CLICK HERE to view the Key West MLS datasheet on Thirsty's which is offered at $260,000. Please call me, Gary Thomas, 305-766-2642, for an information package. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

2312 N. Roosevelt Blvd. Key West, Florida - Waterfront Commercial

I wrote about 2312 North Roosevelt Boulevard in Key West soon after it was listed in April. It's time for a second look as this interesting commercial property with terrific US 1 frontage remains unsold. This nearly 20,000 sq ft lot (102' X 194')  lot is located opposite the Key West Yacht Club. There is a traffic study available to prospective buyers to study the tremendous traffic flow that passes this location each day as tourists and locals make their way into the Old Town just a few blocks to the west.

I dug into my old shoebox and found an aerial photo from the not too distant pass taken by Ty Symroski and Wendy Tucker.  I have added arrows to point out the location of 2312 N. Roosevelt which is shown just opposite the Yacht Club. The small Hilton Haven residential enclave is located on the backside of the Yacht Club.

2312 N. Roosevelt Blvd. Photo in 1999

The two year long widening and enhancement of  US 1 from its entrance onto the Island of Key West to White Street was completed in 2014. Within the couple of months the renovation of the four large hotels at the US1 gateway onto to the island of Key West will be compete. They will join in the renaissance that is transforming North Roosevelt Boulevard as it winds its way alongside the Gulf of Mexico toward Old Town. The black and white photo above was taken back in 1965. It shows nearby 1704 N. Roosevelt Blvd. back in 1964. The old Dairy Freeze is history now. Today there is a modern office building in that location. The vast open area behind it is now the athletic field at the Horace O'Bryant School.  I point out the old so that prospective buyers can understand that what was in the past does not mean that an existing use must stay that way in the future. Some smart buyer will purchase 2312 N. Roosevelt and may totally change the present use to something quite different.. 

I walked the entire lot while taking photos for this blog. The width and depth of the space is much larger in person than it appears in these photos.  The 102' ft depth is equal to two large modular homes. The frontage is equal to nearly four modular homes. If you are a developer you'll appreciate the size of the lot.  The lot is located opposite the Yacht Club. The existing building could be razed and a new structure built. With hotel rooms in the Key West core hitting $400 per night, this space might work well for a new small boutique hotel of maybe 20 rooms with yacht club views but more moderate prices. Or maybe a new owner would build quality retail or office space down and create several long term residential units on the second floor. CLICK HERE  to view the Key West mls datasheet on the land parcel.

The tire and auto repair business has been established over 40 years and has extensive name recognition plus repeat customers and significant contract work for government and local businesses Real estate also for sale but business will have to relocate if sold separately from real property. The existing Business Opportunity (Banner Tire Company) is also available for purchase separate from the building/lot offer. This tire and auto repair business has been established over 40 years with extensive name recognition and repeat customers including contract work. The building and lot are for sale but business will have to relocate if sold separately from real property. CLICK HERE  to view the Key West mls datasheet on the business opportunity only. 

Both of the above listings are listed by Preferred Properties Key West.  Please call me, Gary Thomas, 305-766-2642, for more information. I am a buyers agent and a full time Realtor at Preferred Properties Key West. 

Quit Your Job. Move to Key West. Open a Hamburger Joint

I went to Hawaii in 1977 and got a brainstorm of buying a McDonald's franchise in Honolulu. I was absolutely amazed at how much business the McDonald's near Waikiki Beach did. I immediately understood the value of a good location, an inexpensive product, and a potentially huge number of buyers. I got over Hawaii idea real quick. Nothing like feeling like a second class citizen in the United States.

Jimmy Buffet wrong a song about cheese burgers in paradise, except his homage referred to the now defunct lunch counter at Dennis Pharmacy on United and Simonton Streets. I loved that place just like Jimmy. It was caught in a time warp with the curved counters and its pedestrian menu. Lots of locals and cheap tourists went there for lunch. Prices were cheap and the food was pretty good. You can't make money in Key West by selling cheap food at cheap prices, however. The pharmacy closed a about five years ago. The building was remodeled and is now a granite clad bank. The place lost all of its character. And there is one less place to find a cheap hamburger in Paradise.

One place I would have loved to go to no longer exists. It was the Charcoal Hut that was located next door to the STRAND Theatre on Duval Street. The photos below show the Charcoal Hut as it appeared in the 1960s.

Can you imagine a real hamburger for $.35 in Key West - today ?

The cute hamburger joints of 50 years ago are gone. But you can still buy a
Cheese Burger in Paradise. Read on.

217 Duval Street - Old Town - Key West

Just listed, but not by me, the Business Opportunity to run a restaurant / bar on the hottest block of Duval Street in Old Town Key West. The listing Realtor describes this business opportunity this way:

"Great opportunity in the 200 block of world famous Duval Street to take advantage of 157 seat Restaurant/ Bar with attractive long term lease in place, and extensive build-out of historic two story building with phenomenal built in foot traffic. (SRX Liquor License in place.) Highly successful high volume operation, ready to take to the next level. Trade name does not convey."

The Key West Chamber of Commerce reports that Key West had 3,322,555 visitors in 2009 CLICK HERE. You can bet your bottom dollar that nearly every one of those visitors walked by the Cheese Burger joint at 217 Duval Street at least once during their visit. I write this confidently as 217 Duval Street is located just a couple of doors south of the World Famous Sloppy Joes and across the street from Ricks. The 100 to 600 blocks of Duval Street are the money blocks. Day trippers (boat people for the most part but there are some people who drive down from Miami for a few hours in Key West) do most of their walking and shopping in those six blocks. Visitors who stay several days can be seen repeatedly doing the Duval Crawl because they don't know any better. (Seriously.) Rents are high but so are the revenues that this dynamic location provides.

The 35 cent charcoal burgers of 50 years ago have been replaced by $10.95 cheese burgers. The locations are only a few blocks apart but the world is much different now than then. The weather and relaxed lifestyle are a constant, and you can 't put a price tag on that.

If you are looking to buy a place in Key West, please consider calling me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Unlike Hawaii, Key West does not have any volcanoes. Our beaches are not as sandy, sad to say. But everybody is made to feel welcome in Key West. You do not have to be born here to belong. Quit your job and move to Key West.