For Sale
$5,200,000

5325 Treadway DrPort Richey, FL 34668

Prime waterfront restaurant, marina, hotel

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 1.51-acre waterfront property in Port Richey, Florida, presents a unique redevelopment opportunity. The site boasts a 200-foot commercial marina (80% leased), a currently operating restaurant with a liquor license and seating for 165, and a former hotel building. The property is situated on the Cotee River, near popular establishments and attractions, benefiting from a prime location within a designated redevelopment area. The city has invested $5 million in recent infrastructure improvements, including new lighting, streets, sidewalks, and golf cart paths. The property is zoned C2 Commercial, allowing for a wide range of uses, and includes six lots across three parcels. Comprehensive Phase 1 environmental reports and surveys are available. Concept plans for a 90-120 room hotel resort are also available. The asking price is $5,200,000, with seller financing a possibility. The property offers significant upside potential due to its location, existing infrastructure, and zoning. The current NOI is $85,000, with a pro-forma NOI of $1,200,000 and a pro-forma cap rate of 15%. The property includes 71 parking spaces and two buildings with two stories each. The total net rentable square footage is 15,000 square feet. The existing restaurant lease has one year remaining. This is a multi-tenant property with eight tenants.

Highlights

  • 1.51-acre waterfront commercial property in Port Richey, Florida, the only port in Pasco County with Gulf access, offering significant commercial docking expansion potential.
  • Seaside Restaurant with lease in place (business also for sale), 165-seat capacity, and liquor license; hotel currently not operating; 80% leased commercial wet slips offer high income potential.
  • Prime Cotee River location near Hooters, Dawgs Bar & Grill, a casino cruise ship, and other major entertainment venues.
  • C2 Commercial zoning, 75% FAR, 200' of wet slip commercial marina, existing bar, and additional development land; located in Port Richey's redevelopment area with ongoing boardwalk and waterway dredging projects.
  • $5 million in recent city infrastructure improvements (lighting, streets, sidewalks, golf cart paths); seller financing available; concept plans for a 90-120-room hotel resort development.
  • Three parcels (six lots total), 1.51 acres of C2-zoned land, 200' waterfront commercial marina, hotel, and existing bar; City of Port Richey supports hotel resort development; Phase 1 environmental and surveys completed.

Property Details for 5325 Treadway Dr

Property type
Specialty properties, Marinas
Square Feet
6,700 SF
Year Renovated
2021
Buildings
2
Stories
2
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Port Richey
County
Pasco
State
Florida
Latitude
28.273333428969
Longitude
-82.725703362231
5325 Treadway Dr, Port Richey, Florida

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5325 Treadway Dr
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