www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
32442135
32442140

491 Dock St, Cedar Key, FL 32625 For Sale

DB
FL SL3394244
$2,500,000
97 days on market
Updated 71 days ago

Salinity at Cedar Key

Details
APN 0876100000
Property Type Hospitality, Mixed Use (+1)
Sub Type Bar, Restaurant (+1)
Square Footage 8,672
Net Rentable (SqFt) 8,672
Units 12
Cap Rate 16.28%
NOI $407,000
Occupancy 80%
Pro-Forma Cap Rate 16.2%
Pro-Forma NOI $405,000
Price per SqFt $288
Year Built 1964
Year Renovated 2
Buildings 1
Stories 2
Lot Size (SqFt) 9,583
Zoning Commercial Mixed Use
Investment Type Owner/User
Occupancy Date 04/15/2026
Ownership Scott & Eden Sykes

Boutique waterfront hotel with 12 rooms & 4 retail shops in downtown Cedar Key.

Marketing description

Introducing a rare coastal investment opportunity in the charming and highly sought-after community of Cedar Key. This boutique hotel and retail property offers a unique blend of lifestyle and income, catering to the growing demand for experiential travel along Florida’s Gulf Coast.

The property consists of 12 thoughtfully designed guest rooms and 4 street-level retail spaces, creating multiple revenue streams and a dynamic on-site atmosphere. Guests are drawn to the property’s proximity to the water, walkability to downtown, and authentic Old Florida charm.

With strong in-place performance and opportunity to enhance operations, investors can capitalize on increasing tourism demand, rising nightly rates, and limited competitive inventory in the area.

This is an ideal acquisition for an investor seeking a trophy coastal asset with immediate income and long-term upside potential.

Investment highlights

  • Boutique hospitality asset with established income
  • 12 hotel rooms + 4 retail units
  • Prime coastal location with Gulf access and views
  • Walkable to shops, dining, and marinas
  • Strong tourism-driven market fundamentals
  • Value-add opportunity through management and branding
  • Limited hotel inventory in Cedar Key market
  • 1031 exchange eligible

Listing Contacts

DB
FL SL3394244

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$407,000.00
$33,916.67/mo

Valuation Metrics

0
DSCR
16.28%
Cap Rate
16.28%
ROI

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Jason Mitchell
License
CQ1059241
Brokerage
Jason Mitchell Real Estate
Title
Broker of Record
Brokerage Address
3501 N Ocean Dr, Hollywood, FL 33019
Name
Diane Blake
License
SL3394244
Brokerage
Jason Mitchell Real Estate
Brokerage Phone
754-307-0607
Title
Jason Mitchell
Brokerage Address
3501 North Ocean Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591