The notion of transforming a deserted island into a paradise might appear daunting for a few friends, but it's not an impossible feat.
Located off the coast of Tampa, Florida, Pine Key Island was acquired by four friends in 2017 for approximately $65,000. Over the ensuing years, these owners diligently renovated the island, elevating its worth to over $14 million as it hit the market once again.
Four Friends Purchased An Abandoned Island In Florida For $65,000 And Turned It Into A Stunning Paradise Valued At $14 Million Previously dubbed Beer Can Island by Tampa locals, this spot was a favored venue for parties, hosting concerts, weddings, and various small-scale events over time.
Cole Weaver, one of the island's proprietors, discussed with WFLA News in Tampa the rationale behind the decision to sell the island at this juncture. "When we bought the island, I think we had a lot more intentions with the island," Weaver admitted, "being able to build a restaurant on the island and do some zoning issues that we've been going through."
Given the island's hefty price tag, numerous visitors over the years are concerned that it may become inaccessible to locals.
Acknowledging the fears of Tampa residents about losing access to the island, Weaver emphasized that it was time for him and his fellow owners to part ways with the property.
"I know Tampa Bay is a little nervous about the potential new buyer, but I think the owners are ready to take the next step in [our] lives and move forward," he added.
"We've tried to do a lot for the Tampa Bay area and keep it public."
While the closure of the island disappoints many, it has undeniably proven to be a profitable venture for the owners. Over the past seven years, they've dedicated themselves to renovating the 9-acre landmass, which also includes an additional 90 acres of submerged land, all now up for sale.
Four Friends Purchased An Abandoned Island In Florida For $65,000 And Turned It Into A Stunning Paradise Valued At $14 Million Although the owners express a desire to keep the island accessible to the people of Tampa Bay, they also understand the aspirations of potential buyers eyeing Pine Key Island.
"While historically recognized for hosting events, Pine Key is equally positioned as an exclusive VIP property, providing a perfect setting for either private sole or corporate ownership," read the press release regarding the island's sale.
