Pine Key, an uninhabited 9-acre island located in Tampa Bay, Florida, known as Beer Can Island, is up for sale for $14.2 million. The island was originally purchased by four individuals in 2017 for around $64,000, with the intention of creating a fun and enjoyable space for the community. However, the owners have now decided to move on, prompting the sale of the island. The property was put on the market in February and was open for cryptocurrency and cash offers, with an auction ending in March.
The island, which dates back to the 1940s, is described by the owners as an “extraordinary haven” encompassing approximately 9 acres of pine tree-covered upland and 60 acres of shoal area. The island features amenities such as a full-sized tiki bar, sand volleyball court, and an inflatable slide, making it a popular destination for festivals, weddings, and concerts. Despite attracting tourists and visitors, the island has faced challenges in terms of zoning restrictions and safety concerns, including a boat capsizing incident in 2022.
Issues with zoning regulation and concerns about access for emergency responders have prompted the county to push for the island to be designated as a privately owned nature preserve rather than a private party place. The owners have invested significant resources into the property, including $1 million in zoning-related attorney fees, as well as $5 million in renovations. The island also suffered damage from Hurricane Idalia in the past year. The decision to sell the island comes as activities on the island have ceased while the zoning issues are being addressed.
The current owners have expressed gratitude for the support they have received from the community and members who have enjoyed the island over the years. They have stated that Pine Key is one of the only privately owned islands in Tampa Bay, making the opportunity to purchase it unique. The island could potentially be zoned for residential use, allowing the new owner to build a house on the property. The owners acknowledge that all good things must come to an end, and for them, the time to part ways with Pine Key has arrived.
The sale of Pine Key has generated interest and offers from potential buyers, with the auction process seeing various bids from interested parties. The island, once a popular spot for beachgoers and partiers, is now closed to the public as the future of the property is decided. As the sale of the island progresses, the owners look forward to passing on the legacy of Pine Key to a new owner who can continue to cherish and enjoy the unique paradise that Beer Can Island has to offer.
