It can be a difficult decision to sell your commercial property, particularly if it is business that you’ve put a lot of blood, sweat and tears into. The truth is, however, that circumstances change in our lives, and sometimes it is a good idea to sell in order to turn a profit, retire, or move on to the next adventure! Change can always be disconcerting, but it doesn’t have to be scary. Instead, think of what you want in the future, what is happening in the present, and remember: nothing changes if you don’t. Currently, especially in the Florida Keys, commercial property is in high demand! It’s a good time to take stock and think about where you are and what you want.
3 Signs It Is a Good Time To Sell Your Commercial Property
- You’ve developed a passion for something your current property won’t accmmodate
- Your business is doing very well and you wish to retire soon
- Your type of business/industry is on the way out
If you are a successful entrepreneur and you own a commercial building that houses a prosperous pizza place, but lately all you’ve been doing is browsing the Bed and Breakfasts for sale, maybe your intuition is telling you something…it’s time to forge a new path! If you’re a successful entrepreneur in one arena, the odds are extremely high you’ll be successful at another business venture. It’s okay to get bored with one type of industry and want to try your hand at something else! Make sure to develop a reasonable exit strategy (the average commercial property takes 6 – 9 months to sell from start to finish) and you’ll want to hire a professional commercial property real estate agent
Your business is doing great – but your children have no interest in running it, and you wish to retire soon. You need to consult with a CPA and get your retirement funds in order, and then you need to sell while you business is at its peak. Don’t wait until you start to falter and business starts to wane – the best time to sell is always when business is at an all time high, if possible. Sell when your property is in tip top shape.
If you are a business owner of a commercial property that isn’t doing so well, don’t be afraid to sell! Someone else may envision your space doing something completely different and may find your commercial property perfect for whatever entrepreneurship that they envision. Take the money and invest it or start a completely new business in an area you’d be more comfortable with. One thing is for certain – for every building or business that isn’t for you, it is right up someone else’s alley! Don’t be afraid to admit it’s just not going well and get out before you get in deeper, so that you can pursue a dream you will feel successful and proud of!
Hot Key West Business Opportunities
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Newest Key West Commercial Properties on the Market
![2710 Roosevelt Blvd Boulevard N KEY WEST, Florida Prime Restaurant/Bar location for lease in Key West. Seller is motivated and will consider all serious offers. Very visible endcap location in Overseas Market. 6,000 sf. interior available and includes all Furniture, Fixtures and Equipment. Licensed for over 200 Seats. Includes an SRX/COP liquor license and a large full service bar inside with bar seating and tables. Comfortable Indoor AC dining and outdoor patio seating available. A ton of parking surrounds the restaurant. Perfect location for a major national Restaurant and Bar or other Retail uses are possible. Favorable, long term 20 yr. lease in place, started in Feb. 2017 with approx. 14 yr. balance. Landlord Approval required for any Lease assignment. Current Denny's franchise is optional and would require Denny's application and approval. Denny's opened in Key West back in 1996 at another location by current franchisee. Overseas Market just went through major improvements. Current tenants in Overseas Market include Winn Dixie, Ross, CVS, Five Guys, Domino's, Advanced Auto, US Post Office, Jersey Mike's and other retail and office tenants.](https://cdn.photos.sparkplatform.com/flk/20240524160808514044000000-o.jpg)
2710 Roosevelt Blvd Boulevard N KEY WEST, Florida
2 Baths 6,000 SqFt
![295 51St Street Gulf MARATHON, Florida Exceptional 6-unit multi-family commercial property conveniently accessible from both 51st Street and 50th Street. This property offers unparalleled convenience and charm in the heart of Marathon. Comprised of three buildings surrounding a serene courtyard oasis complete with a sparkling pool, tiki bar, and grill. Boasting a total of five efficiencies and a separate two-bedroom, two-bathroom unit, making it an investor's dream. Each unit has undergone extensive remodeling, featuring tile floors, impact windows, AC systems, state-of-the-art appliances, cabinets, and quartz countertops. Ample off-street parking for over eight vehicles. Zoned MU Commercial with six TBRs (Building Rights), this property offers versatile opportunities for investors, whether for short-term rentals, long-term leasing, or commercial endeavors.CA/NDA and proof of funds or bank pre-approval is required.](https://cdn.photos.sparkplatform.com/flk/20240408235334380252000000-o.jpg)
295 51St Street Gulf MARATHON, Florida
7 Beds 7 Baths 2,614 SqFt
![243 61St Street Gulf Street MARATHON, Florida A rare and unique income producing Hotel in Marathon. Tropical Cottages is a boutique & very profitable Mom and Pop Motel. Total of 11 valuable Transient Licenses, 13 Rooms plus office with kitchen & check in room. There are 9 buildings on the property, 8 adorable free standing cottages and the main building with 3 rooms. Each room has been tastefully and tropically renovated inside and out. Each room is unique and comes fully furnished. Most of the units have small kitchenettes including sink with microwave and refrigerator. All units have refrigerator & microwave. Each of the cottages have shiny new Victorian shingle roofs. Additionally, there is a large Tiki Hut & Bar along with Food Truck with seating area. The Food Truck is leased for $5,000 per mos. and the Tiki Bar operations are owner operated. Both add to income and a great amenity for the guests. On site is a full laundry room with Commercial grade washers/dryers and storage rooms throughout. All housekeeping is done on site. Small but friendly efficient staff has been there long term and willing to stay on with new owners. There are a total of 6 lots encompassing over 1/2 acre of land, total .56 Ac or 24,384 sf. There is ample off street parking for guests. Zoning is GC and land use is recognized as Hotel/Motel. Bonus of Deeded waterfront access at the end of 61st St. which has a boat ramp and staging area for all types of watercrafts and sports. Same family ownership since 2010. Tropical Cottages was started back in the mid 1950's as a Fish camp and is one of the few remaining Mom & Pop Motels throughout the Florida Keys. Priced at just over 7% cap rate. Motel generates substantial Net income year after year to current owners. Sellers may consider Seller Financing to a qualified buyer and must have 40%-50% or more down payment. Terms to be negotiated.](https://cdn.photos.sparkplatform.com/flk/20240306215504991065000000-o.jpg)
243 61St Street Gulf Street MARATHON, Florida
13 Beds 14 Baths 4,461 SqFt
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