Kristopher G. Wagner, P.A., Director, Commercial Sales with Keyes Commercial Real Estate Company, negotiated the sale of Kona Kai Resort, Gallery & Botanical Gardens, located at 97802 Overseas Highway in Key Largo, Florida.
The 11-room resort property, which also features an owner’s suite, is considered one of the most exclusive resorts known to the Florida Keys. It sold for $3,150,000.
Wagner represented both the seller, Resort Property Management of the Keys, Inc., and the Buyer, Kona Kai Resort Management Group, LLC, in the transaction, which closed July 22.
This property had been fully renovated over the past 4-5 years, and ranked #1 with Trip Advisor for Inns and Bed & Breakfast resorts in Key Largo.
“The property is a very well run property and on course for the best year of performance in its history. As it turned out, the buyer was a fan of the Keys and traveled there frequently, so this purchase made great business sense,” commented Wagner.
The property was being marketed as an off-market listing, as it was of great importance to the seller to not disrupt the normal business operations or guests.