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Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

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3 Things to Know Before You Buy a Restaurant in the Florida Keys

3 Things to Know Before You Buy a Restaurant in the Florida KeysStarting your own business is always an exciting prospect. If you’re thinking about buying a restaurant in the Florida Keys, here’s what you need to know.

3 Things to Know Before You Buy a Restaurant in the Florida Keys

Many people take the plunge by becoming a business owner, but often do so not really knowing what they need to know in order to be successful at it, and an aspiring restaurant owner is no different. In fact, folks wanting to open their own restaurant are in a tougher spot than most new business owners. Here are three key things you need to know and understand about opening a restaurant.

Owning a Restaurant is Hard Work!

This is probably the single most important thing you need to know as a prospective restaurant owner. Restaurant ownership, especially during the first few years, is not fun. It can feel like a 24/7 job, as many times the work continues well after closing. Constantly being at the restaurant and dealing with restaurant issues can take its toll on both you and your family. Are you prepared to deal with that?

Know the Rules and Regulations

The first thing you’ll have to worry about is your state’s health and food safety standards. Then your locality’s general business operating rules come into play. Some of the local rules you may need to be aware of include advertising and the building’s appearance and functionality.

Advertising: The Keys have specific rules regarding signage used to advertise your business.

The building: Keeping the outside of your building neat and clutter-free is a must, and it has to meet code requirements.

Not playing by the rules can get you shut down before you get going with all that hard work you’re going to be doing, especially in the smaller localities.

Think Twice Before Hiring Friends and Family

It’s never a good idea to lend money to friends or family, and hiring them to work for you isn’t a wise thing to do either. Perhaps it may work out in the beginning, but in the long term you need to employ trustworthy, hard-working, competent outsiders. Doing so can spare a lot of resentment and hurt feelings.

Hot Key West Business Opportunities

101600 Overseas Highway $20,000,000

101600 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 3,717 SqFt

139 Seaside Avenue $10,500,000

139 Seaside Avenue KEY LARGO, Florida

5 Beds 7 Baths 6,740 SqFt

5730 4Th Avenue $9,995,000

5730 4Th Avenue Stock Island, Florida

9 Baths 6,444 SqFt

1622 Overseas Highway $9,900,000

1622 Overseas Highway MARATHON, Florida

3,400 SqFt

12685 Overseas Highway $8,500,000

12685 Overseas Highway MARATHON, Florida

5,607 SqFt

517 Duval & 518 Bahama Street $7,500,000

517 Duval & 518 Bahama Street KEY WEST, Florida

4 Baths 7,854 SqFt

3428 Roosevelt Boulevard N 1,2,3,4,5,6 $5,995,000

3428 Roosevelt Boulevard N 1,2,3,4,5,6 KEY WEST, Florida

7 Baths 8,046 SqFt

$5,250,000

Key Largo, Florida

2 Baths 4,680 SqFt

96180 Overseas Highway $4,650,000

96180 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 1,445 SqFt 0.960 Acres

919 - 921 Duval Street $3,750,000

919 - 921 Duval Street KEY WEST, Florida

9 Beds 6 Baths 4,173 SqFt

101350 Overseas Highway $3,250,000

101350 Overseas Highway KEY LARGO, Florida

2 Baths 6,674 SqFt

1100 Indies Drive S $2,725,000

1100 Indies Drive S Duck, Florida

4 Beds 4 Baths 3,402 SqFt 0.290 Acres

100150 Overseas Highway $2,400,000

100150 Overseas Highway KEY LARGO, Florida

2,436 SqFt

352 Seaview Drive E $2,200,000

352 Seaview Drive E Duck, Florida

2 Beds 3 Baths 1,440 SqFt 0.190 Acres

218 Bristol Court $1,999,000

218 Bristol Court Tavernier, Florida

3 Beds 2 Baths 1,628 SqFt 0.150 Acres

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!

In the meantime, check out these 1-click searches:

  • All Businesses for Sale
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Newest Key West Commercial Properties on the Market

Old Town creative small office space, located on the 2nd floor at 524 Front Street in Key West. Office #2 is available for lease starting February 11th approximately 115sf, perfect small space for a couple of desks, shared sitting area, porch & kitchenette. Location is in the Heart of Old Town in the Cruise Ship District. All utilities included. In addition to monthly rent quoted is sales tax. $750 Active

524 Front Street Office #2 KEY WEST, Florida

1 Baths 115 SqFt

Great opportunity to purchase a SIX UNIT corner property!  All units are spacious with 2 bedrooms and 1 bath. Separately metered for water and electric.  Five units are month to month and one unit has a lease ending 9/2023. Close to dining, resorts, marina, and only minutes to Key West.  Ideal for investors, perfect for employee housing or owner occupier with rental income.  Prime corner 125x50 lot with ample off street parking. Sale is subject to court approval of Personal Rep. for the Estate of Co-Seller. $1,750,000 Active

6336 2nd Street Stock Island, Florida

6 Beds 6 Baths 5,394 SqFt

Endless possibilities! Rare multi-use commercial/residential building located in prime location in Old Town, Key West. Now available, 2000 sq.ft. commercial space on ground floor with 2 bathrooms and bonus office/storeroom. Upstairs are (3) three large residential apartments with a terrace. All the units have independent entrances and separate electric meters. The first apartment has 3 large bedrooms, 2 full bathrooms, stainless steel appliances & spacious balcony. The second apartment has a new kitchen with 2 bedrooms, 1 bathroom. The third unit is a large studio with full kitchen and bathroom. Enjoy the proximity to the beaches, restaurants, shopping and all the attractions. This mixed-use property is a must see! Perfect for 1031 exchange, investor, employee housing or owner occupier. As per request, rental income and annual expenses are available. Schedule your viewing today! $2,900,000 Active

1110 White Street KEY WEST, Florida

6 Beds 6 Baths 3,657 SqFt

Fantastic space available in the heart of the evening crowd across from the Opal and Ocean Key House Hotels and steps away from world famous Mallory Square, Key West's popular Sunset Celebration. High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street. Ground level storefront with large display windows and approximately 1250 sq. ft. of retail space with an additional 950 sq. ft. of space that could be combined next door for a total of 2,200 sf. ft. Triple net expenses and sales tax are in addition to the amount quoted $8,300 Active

308 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

View All

Posted in: Buyers, Buying Commercial Real Estate, Buying Tips, Commercial Real Estate, Restaurants & Bars Tagged: Buying a Commercial Building, Buying a Restaurant, Restaurant, Tips

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Key West Office

RE/MAX ALL KEYS REAL ESTATE
305-296-1400 Office

Business Address:
517 Duval St Suite 200, Key West, FL 33040

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RE/MAX ALL KEYS REAL ESTATE
305-451-0060 Office

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AREAS WE COVER:

33040, 33043, 33042, 33050, 33036, 33037
Key West, Stock Island, Big Pine Keys, Marathon, Islamorada, Key Largo

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