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Featured Property of the Day: 551 Broadway Street, Longboat Key

Posted by Judie Berger on Sunday, May 27th, 2018 at 4:34pm.

A rare, seaside income opportunity on boating water nestled between the Gulf and the bay. This 1946 vintage, uniquely charming six-unit limestone structure is located on a corner lot on one of the original building sites in the Historic Village of Long Beach on tropical North Longboat Key. Included are 3 platted non-conforming contiguous lots; two are vacant residential waterfront lots (7009 & 7017 Longboat Drive N.) Perfect for vacation rentals, located just .01 mile to the beach access to Longboat Key's famous beaches and the waters of the Gulf of Mexico where blazing sunsets are enjoyed each night. New seawall, no bridges to the bay and direct access in minutes to Longboat Pass and the Gulf of Mexico. In operation since the 1800s, the Historic Village offers a treasured island lifestyle with restaurants and a Center for the Arts, nearby community boat ramp and fishing piers. Although the value is mainly in the land (2 conforming lots), the historic value and renewed interest in vintage buildings cannot be ignored. Restoring the building with 6 beachside vacation rentals could be a worthwhile investment. The six rental units include five efficiency units and one, one-bedroom unit. There is no recent rental history, however, a limited past history is available. The popular waterfront Mar Vista Restaurant is just two blocks away. The island trolley, a block away, heads north to Anna Maria Island’s restaurants and boutiques, or south to St. Armands Circle for shopping, dining and nightlife. $1,200,000

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