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Little Conch Key (AKA Walkers Island) Offered By

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Little Conch Key (AKA Walkers Island) Offered by: Price: $13,000,000 Often referred to as Walker’s Island, this once-in-a-lifetime private island is located at mile marker 62 in the heart of the Florida Keys and is accessible via two separate causeway drives from the east and west of the island. The island is neighbored on the east by Conch Key., a small, old-world fishing village and to the east is Duck Key, a high-end residential island that is also home to world-class Hawk’s Cay Resort. The Island is divided into two sections West Side of the Island (Conch Key Cottages): 2.26 acres of upland 16 Transient rights Small Dock and Boat Basin Most of the older ‘50s cottages were destroyed in the storm East half of the island: 1.77 acres of upland 8 Market Rate Development Rights (2 Developed) 2 existing luxury homes each featuring: - 4152 sq. ft. of air conditioned living space - 5 bedrooms/5.1 baths - Elevator - Pool & spa - Two car carport - Custom finishes - Marble and granite and Stainless appointments - Built in 2010- 2011 These homes are Licensed Vacation Rentals in Monroe County allowing for weekly bookings. Gross receipts for 2016 were approx. $225,000 for each house. Taxes for 2017: Conch Key Holdings, Inc. $56,157.88 (North half of Island) Conch Key Watersports, Inc. $39,071.94 (Conch Key Cottages) Zoning: MU Land Area: Upland 4.03 +/- Acres Total AERIAL PLAT VIEW & ISLAND LAYOUT 62250 Overseas Hwy 11, Conch Key, FL 33050 578641 Residential Active $13,000,000 Provided as a courtesy of American Caribbean Real Estate - Middle Keys 9141 Overseas Hwy Marathon, FL 33050 Office - (305) 743-7636 ext. 211 Mobile - (305) 923-1902 Toll Free - (800) 940-7636 [email protected] http://www.ACREsales.com Listing Board: Marathon/Lower Keys As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: Yes Off Shore Island: Yes County: Monroe Subdivision: Conch Key (62.5) 20 - Duck Key, Coral Key, Mile Marker: 62.50 Area: KW Neighborhood: Conch Key Side: Ocean Flood Zone: VE,VE Handicap Access: Alternate Key #: 1115797 Add'l Parcel #1: 00099090-000000 Add'l Parcel #2: 00099090-000100 Parcel #: 00099060-000000 Bldg Nbr: Zoning: MU - Mixed Use District Deed Restrictions: Unknown Taxes: 95,229.82 Tax Year: 2017 Pub Sewer HkUp: Yes Dcmntd Septic Tnk: Style: Multi-Units Waterfront: Yes Control Depth: 4 Unit/Complex: Pool: Yes Year Built: 1943 Total Units: 0 Lot Size: Lot SqFt: Acres: 4.03 Living Apx SqFt: 416 SqFt Source: Seller Total Bedrooms: 10 Full Baths: 10 Half Baths: 2 Total Baths: 10.20 Floor Number: Rentals Allowed: Yes Min Rental Days: 7 Max Rental Days: Limitd Reprsntation: No Sold Comments: Remarks - Consumer: Rare opportunity to own an entire Florida Key!2 luxury Balinese inspired homes, 4152 sq. ft. each w/marble, granite and tropical hardwood finishing materials. 2 pools Top Line stainless appliances. 16 Transient rights, 6 Market Rate Rights 6 vacant lots for future development. Ready for upscale mini resort development (think Little Palm) or retain as private estate. 15 min to Airport, shopping, dining, Hospital. There are three stilt cottages, previously part of Conch Key Cottages which was destroyed by the hurricane of 2017. Houses are licensed vacation rentals and grossed over 400,000 last year. Aerial photo pre-hurricane. Directions: Located ocean side at mile marker 62 between Conch Key and Duck Key Legal: 15 65 34 LITTLE CONCH KEY NW1/2 OR501-201/203 OR571-718D/C OR825-1455 OR864-1884/1885 OR936-693/95 OR1165-2192/93 1165-2 Porch/Balcony: Deck; Patio Utilities: Cable Available; Elect Separate Meter; Association Info: Mandatory Home Owners Asc: FKAA; Municipal Sewer Yes; 1st Right of Refusal: No Interior Features: Bar; Built-in Cabinets; Cathedral Shutters: Bahama Fee Includes: None; Other Ceilings; Drapes/Blinds Incl; Elevator; Fireplace(s); Floor: Marble; Tile Floor; Vinyl Floor; Wood Floor Tax Exemptions: None Granite Counter Top; Pantry; Security System; Smoke Roof: Metal Roof; Shingle Roof License Info: # of Transient Licns: 16; Transient Alarms; Split Bedroom; Storage; Tray Ceilings; Walk-in Pets: Pets Not Applicable Rntl Licns Closet; Window Treatments Neighborhood Feature: Beach; Manager on Waterfront: Oceanfront; Open Water Pre-Wired: Cable; Surround Sound Premises Waterview: Ocean View; Open Water View Specialty Rooms: Laundry Room; Utility Room Security: Electric Gate Dockage: Dock Length: 300; Dock: Composite; Appliances: Dishwasher; Disposal; Dryer; Gas Land Size: 2 Less Than 5 Acres Basin; Boat Ramp; Boat Slip; Seawall: Concrete Appliances; Ice Machine; Microwave; Oven; Range; Terms: Seller Finance Psble Building Style: Above Flood: Yes; Stories: 2 Stories Refrigerator; Stainless Steel Appl; Washer Title: Negotiable Vehicle Storage: Carport; Covered Parking; Guest Exterior Features: Detached Guest Qtrs; Fencing; Property Rights: Multi-Use/Commercial; Transient Parking; Off Street Parking; Open Parking Hot Tub; Sandy Beach; Storage License Furnished: Furnished Accessibility Feat: Elevator Financial Status: Bank Owned: No; Potential Short Cooling/Heating: Attic Fan; Central A/C; Pool Info: In Ground; Heated: Yes; Concrete Sale: No Combination A/C; Heat; Window/Wall Unit Construction: CBS; Frame Windows/Doors: Aluminum Windows; French Doors; Impact Rstnce Doors; Impact Rstnce Window Transaction Guidelines Property: 62250 & 62400 Overseas Hwy Marathon, FL 33050 Property Tours: American Caribbean Real Estate will facilitate the requests for additional information, schedule property showings and present all purchase offers to the property owners. It is respectfully requested that you do not contact the owner or management at the property. For all requests and viewing scheduling, please direct your real estate representative to: Ginger Henderson 305-731-5751 or Jody Owen 305-923-1902 Terms: The property is offered “As Is” in Fee Simple Title. No going concern is included. Offering Procedure: Offers should specify the following: A) Price; B) Financing Terms; C) Length of Inspection Period D) Length of Closing Period: E) Financial Strength and Experience of Prospective Buyer. Address offers to: Little Conch Key Development Corp. c/o American Caribbean Real Estate Middle Keys 9141 Overseas Hwy Marathon, FL 33050 Phone: 305-743-7636 Fax: 1-800-768-3849 E-mail: [email protected] SURVEYS FEASABILITY STUDY January 26, 2017 Mr. Tom Cirrito 619 Sombrero Beach Road Marathon Florida 33050 Re: Walkers Island and Little Conch Key - Specific Purpose Feasibility Study Dear Mr. Cirrito: You have asked us to conduct a specific purpose feasibility study for the existing and potential development options for Walker’s Island and Little Conch Key located in unincorporated Monroe County. Since Walker’s Island and Little Conch Key are two parts of one island, the review shall look at the two parcels independently and as a combined single parcel. Furthermore, specific scenarios for hotel/ motel development, residential development, commercial development or a hybrid development shall be discussed. The Monroe County Land Development Code and Comprehensive Plan have been reviewed pursuant to the existing development and the potential to add new development to the island. INTRODUCTION T h e I s l a n d i s l o c a t e d i n unincorporated Monroe County, Fl on the southern side of US Highway #1 at approximately Mile Marker 62. The upland area of the island is 4.03 acres1 - of which Walker’ s Walker’s Island is 1.77 areas and Island Conch Key 2.26 acres. According to the Flood Insurance Rate Maps (FIRM), the island is located in the velocity (V) zone. Conch As shown in the adjacent aerial, Key Walker’s Island refers to parcels on Walker’s the southeast side of the island Island and Little Conch Key is on the northwest parcels. Both entities include uplands and submerged lands. Monroe County zoning designation i s M i x e d U s e ( M U ) , t h e Comprehensive Plan designation is Mixed Use Commercial (MC). These designations allow for many uses including residential (market, affordable and transient housing) in addition to various commercial, institutional, maritime, light industrial and public uses. 1 Upland area are according Monroe County Property Appraiser’s data as well as other County information. A comprehensive survey was not provided for review. Development on this island is subject to the Monroe County Comprehensive Plan and Land Development Code (LDC). In addition, this island is located within the Florida Keys Area of Critical State Concern (ACSC) which gives the State of Florida’s Department of Economic Opportunity (DEO) an active supervisory role with regard to the use of the land and water in the County, including review and approval of any change to the County’s Comprehensive Pan and LDC. In accordance with State regulations, the updated County Comprehensive Plan and LDC were adopted in February 2016. Specific regulations concerning density, setbacks, height, and open space remained unchanged; however, the ability to transfer entitlements from one site to another became more restrictive. The County Code distinguishes residential uses into three categories: market rate residential, affordable/workforce residential and transient residential. Specific parcels for these various types of development are contingent upon the uses permitted per zoning district. Market rate and affordable/ employee housing uses include single-family, duplex and multi-family development. Affordable housing regulations include density bonuses as an incentive to develop deed restricted housing for the County’s workforce. Since 1992, any new development in Monroe County, whether residential, transient or non-residential (ie commercial, industrial, commercial fishing, etc) is governed by the Rate of Growth Ordinance (ROGO). A landowner who desires to construct a new home, new business or new motel room, must obtain for an allocation pursuant to the ROGO ordinance. Each year the County issues a limited number of allocations - quarterly for residential development and bi-annually for commercial development.
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