96 Madeira Road, Upper Matecumbe Key Islamorada, FL 33036

New Listing

$18,000,000

Property Type: Commercial Sale Baths: 2 Status: Active

Current Price: $18,000,000 List Date: 2/23/2026 Last Modified: 2/23/2026

Description

''The Pulse of Islamorada'' ... Iconic Islamorada Restaurant & Cabana Bar available for Sale, Real Estate and Business included. Spanning over 1,000 feet of bayfront and 500 ft of Highway frontage, where the locals & visitors come from near & far to watch nightly sunsets over the bay, enjoy food & libations, and listen to live bands daily. This property includes over 5 acres of real estate (survey available), full service bar with 5 Cop liquor license, 250 seat outdoor restaurant, private party & tournament hosting area. New parking lot, lighting, & drainage completed in 2020 with plenty of parking to expand the business. Concrete building built in 2015/2016 for gift shop, bathrooms, laundry, prep kitchen, storage, and more. In addition, property includes main kitchen, special event tiki bar, dockage, beach, boat ramp, and more. Sale includes 4 on site building rights & 2 boat slips in the Islamorada Yacht Basin located adjacent to property. Room for expansion. Voted Best Sunset year after year. Additional information and financials available upon request. NDA and POF required. Contact Listing Agent . All information to be verified by Buyer/Buyer's Agent.

More Information MLS# 613627

Contract Information

Listing Board: Florida Keys Limited Representation: No Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Current Price: $18,000,000 Listing Date: 2025-02-08 List Price: $18,000,000

Location, Tax & Legal

City: ISLAMORADA Off Shore Island: No Mile Marker: 82.5 Marathon Neighborhood: N/A Side: Bay/Gulf Flood Zone: AE,AE,VE,0.2 PCT ANN Alternate Key #: 1491764 Parcel #: 00399370-000000 Zoning: HC - Highway Commercial Legal: BLK 3 LTS 5 THRU 9 AND BLK 4 WLY 217 FT LOT 1 AND PT OF LOTS 1, 2, 3 AND 4 LYING NWLY OF BASIN AND PT OF BAY BTM NWLY OF Taxes: 48210.63 Tax Year: 2023 Street #: 96 Street Name: Madeira Street Suffix: Road Key/Island: Upper Matecumbe Key Islamorada State/Province: FL Zip Code: 33036 Subdivision: Strattons (82.5) County: Monroe Area: 23 - Upper Matecumbe

General Property Description

Realtor.COM Type: Commercial Waterfront: Yes Control Depth: 4 Lot Size: see survey Lot SqFt: 0 Business Name: Lorelei Restaurant & Total Units: 0 Year Established: 1951-12-31 # Parking Spaces: 200+ # Stories: 1 SqFt Source: Tax Records Total # Buildings: 3 Building SqFt: 4750 Style: Commercial Year Built: 2011 Half Baths: 2 Total Baths: 2

Remarks & Misc

Remarks – Consumer: ''The Pulse of Islamorada'' ... Iconic Islamorada Restaurant & Cabana Bar available for Sale, Real Estate and Business included. Spanning over 1,000 feet of bayfront and 500 ft of Highway frontage, where the locals & visitors come from near & far to watch nightly sunsets over the bay, enjoy food & libations, and listen to live bands daily. This property includes over 5 acres of real estate (survey available), full service bar with 5 Cop liquor license, 250 seat outdoor restaurant, private party & tournament hosting area. New parking lot, lighting, & drainage completed in 2020 with plenty of parking to expand the business. Concrete building built in 2015/2016 for gift shop, bathrooms, laundry, prep kitchen, storage, and more. In addition, property includes main kitchen, special event tiki bar, dockage, beach, boat ramp, and more. Sale includes 4 on site building rights & 2 boat slips in the Islamorada Yacht Basin located adjacent to property. Room for expansion. Voted Best Sunset year after year. Additional information and financials available upon request. NDA and POF required. Contact Listing Agent . All information to be verified by Buyer/Buyer's Agent. Directions: At mile marker 82 bayside.

Deed Restrictions

Unknown: 1

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

License Info

5-Cop (Transferable): 1 Other/See Remarks: 1

Type

Bar: 1 Restaurant: 1 Retail: 1

Fee Includes

None: 1

Misc Property Info

Recorded Plat: Yes

Dockage

Dock: Concrete Basin: 1 Boat Ramp: 1 Boat Slip: 1

Appliances

Dishwasher: 1 Refrigerator: 1

Property Info

# Boat Slips: 2 License Included: 1

Waterfront

Bay Front: 1

Electric

220 Volt: 1

Waterview

Bay/Gulf View: 1

Construction

CBS: 1 Combo Construction: 1 Frame: 1

Land Size

5 Less Than 10 Acres: 1

Terms

Seller Finance Psble: 1

Utilities

Buyer to Verify: 1 FKAA: 1 Municipal Sewer: 1 Propane: 1

Title

Title Ins - Buyer: 1

Property Rights

Beverage License: 1

Miscellaneous

Handicap Access: 1 High Traffc Location: 1 High Visibility: 1 Highway Frontage: 1 Loading Dock: 1 Manager on Premises: 1 Open Water View: 1 Storage: 1 Other Miscellaneous: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Status: Active

Property Features

Deed Restrictions: Unknown License Info: 5-Cop (Transferable); Other/See Remarks Property Info: License Included Type: Bar; Restaurant; Retail Waterfront: Bay Front Waterview: Bay/Gulf View Dockage: Basin; Boat Ramp; Boat Slip Utilities: Buyer to Verify; FKAA; Municipal Sewer; Propane Appliances: Dishwasher; Refrigerator Miscellaneous: Handicap Access; High Traffc Location; High Visibility; Highway Frontage; Loading Dock; Manager on Premises; Open Water View; Storage; Other Miscellaneous Construction: CBS; Combo Construction; Frame Electric: 220 Volt Land Size: 5 Less Than 10 Acres Fee Includes: None Terms: Seller Finance Psble Title: Title Ins - Buyer Property Rights: Beverage License

Documents

Survey ›

NDA ›

Listing Office: Berkshire Hathaway HomeServices Keys Real Estate - Islamorada

Last Updated: February - 23 - 2026

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

Search powered by FBS Products