MIAMI—A rare oceanfront development site in the Florida Keys is up for grabs. CBRE is marketing Knights Key RV Resort & Marina, a 24-acre oceanfront redevelopment opportunity at 1 Knights Key Blvd. in Marathon, FL.
Knights Key is entitled for development of 199 transient resort units, 48 marina slips and 5,700-square-feet of commercial real estate space. Developers could choose to build a hotel, hotel-condominium, or fractional-ownership units. Lisa Zaranek, a senior associate at CBRE Hotels, says the “magnitude and density” and the location the Florida Keys makes the opportunity “very rare.”
Knights Key is located at the entrance to the famous Seven Mile Bridge, which means there's easy access to the Florida Bay for boating, fishing, and other water sports enthusiasts. The site is a peninsula surrounded by about 2,500 feet of shoreline with views of the Atlantic Ocean. The Florida Keys commercial real estate is also close to restaurants, shopping, dive shops, charter boats, boat rentals, and other local amenities.
"The inherent high barriers to entry in the Florida Keys are very appealing to hoteliers, developers, high-net-worth individuals, as well as institutional and regional investors," says Calum Weaver, first vice president, of CBRE's Multi-Housing Group. The CBRE team representing the seller includes Zaranek, Christian Charre, Paul Weimer, and Natalie Castillo with CBRE Hotels, as well as Weaver, Gerard Yetming, and Robert Given with CBRE's South Florida Multi-Housing Group.
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