Four political entrepreneurs paid $63,000 for a Florida island. It is currently listed for $14 million.

• Beer Can Island in Tampa Bay, Florida is on the market for $14.2 million.
• Four friends bought the island in 2017 for $63,000, according to the London Times.
• They faced the challenge of convincing local residents to support their business plan.

A quirky party venue in Tampa Bay, Florida is on the market for $14.2 million.

Pine Key is an island in the middle of Tampa Bay. Created by the State Dredging Project. Spanning approximately 69 acres, only 9 of which are above water, it boasts a photogenic white beach and surrounding blue waters.

Commonly known as “Beer Can Island” because of the beer cans left behind by sailors, it has transformed over the past seven years into one of Florida’s party hotspots.

It was purchased by four entrepreneur friends in 2017 for $63,650.

Russell Loomis, 46, one of the visionary quartet, said in an interview with The Times of London: On to the next person. ”

According to his LinkedIn profile, Loomis Technology app business background and running a debt relief company. In 2017, he and his friends built a floating tiki bar using 258 plastic barrels. They gathered at Pine Key, finding a parking spot for a floating watering hole.

“It was a very exciting time, but it also came with a lot of challenges. We didn’t know what we were getting ourselves into when we bought it.”

When they bought the island, it already had a reputation as an unofficial party spot for local residents, but due to the lack of facilities and public facilities, the owners seemed more than happy to part with it. Ta.

But years later, after bringing in food and alcohol supplies and fixing up restrooms, picnic tables and a 120-foot inflatable slide, the once-defunct island became a hub for boaters looking to relax. became.

“Running an island is different than running a regular business. It requires a whole new learning curve,” Loomis said.

“If you run a bar on the mainland, you’ll have a truck with all your inventory and stock the shelves. On the island, you actually go shopping, load it into a van, load it from the van onto a boat, and the boat goes anywhere on the island. But I’ll go.

“The logistics are the most difficult,” Loomis said.

Nevertheless, Loomis, Cole Weaver, James Wester, and John Gadd made investments. $5 million for the project, the island has turned into a hot spot for party-goers. He also hosted weddings and music events, and once sold up to 3,000 concert tickets at a time.

Others were less enthusiastic about their friend’s business plan.

While many were pleased with the friends’ decision to get the pimps off the island, others were unsure.

“The core group of people thought it was their island and they didn’t understand until we bought it. It was actually private land and they were trespassers. Owners They just didn’t force it and they felt they had a right to it. We opened it up. We launched it and created facilities and entertainment,” Loomis said.

In an effort to appease some locals, Weaver spent 100 days on the island, building relationships with the boating community and reassuring them they could come to the island if they wanted.

weaver, real estate agent and architectural engineer, While most of the island will remain open to anyone who wishes to come ashore, it has been decided to mark off some areas as “members only” for a fee.

Local authorities also agitated that the island should be used as a nature reserve rather than a party. Manatees live near the island and seek comfort in the warm waters during the winter. But Weaver believes the only wildlife on the island are seagulls and the rats that plagued her during her stay, the Times reported.

new owner

The island will be auctioned off as a cryptocurrency NFT, but cash offers will also be accepted, Fox reports. The auction will begin in early March and end on April 1, 2024.

The highest bidder becomes the new island owner. However, this unique property comes with its own set of challenges.Last year it was underwater Under 5 feet of water during Hurricane Idalia, The Tampa Bay Times reported.

“We’ve had a tremendous amount of interest and a lot of calls, from developers who want to build homes to people who want to continue doing what we’re doing,” Weaver told the Times. .

“It was a fun time…a good time. It’s not every day you wake up and go back to your island,” he said.