$3,200,000
Key West, FL 33040
MLS# 118719
Status: Closed
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Property Description
The Grand Guesthouse is a rock-solid investment with outstanding financials and consistent year-over-year growth. Where in the current marketplace can one find proven and consistent returns in excess of a 7.5% cap rate? This is the best lodging property investment currently available; includes 2 buildings with 10 transient rental units + a 2-bedroom unit as on-site manager's residence. Front building is an 1885 historic bungalow; circa 1952 rear building houses 4 1-bedroom suites. Charming and well-maintained, the Grand Guesthouse attracts new and return visitors whilst maintaining excellent occupancy and ADR. Green Lodging Property, recipient of the Superior Small Lodging's White Glove award & Cert. of Exc. from Trip Adviser.
Details
Maps
Contract Information
Current Price: $3,200,000
Listing Date: 2013-10-14
Listing Board: Key West Association
Leased Price Monthly: $3,200,000
Limited Representation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Location, Tax & Legal
Street #: 1116
Street Name: Grinnell
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: GG Watson Sub (1.0)
County: Monroe
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 50 x 93.5
Lot SqFt: 4675
Waterfront: No
Business Name: The Grand Guesthouse
Year Established: 1999-01-01
# Parking Spaces: 6
# Stories: 2
Total # Buildings: 2
Building SqFt: 3384
Total Units: 11
Year Built: 1885
Association Info
Mandatory Home Owners Asc: No
License Info
# of Transient Licns: 3
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2014-09-22
Leased Date: 2014-09-26
Leased Price Monthly: $3,200,000
Status: Closed
Property Features
Deed Restrictions: Unknown
Type: Hotel/Motel; Other Services
Dockage: None
Cooling: Ceiling Fans(s); Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Laundry Room
Miscellaneous: Fencing; Manager on Premises; Patio; Residence on Premise; Storage
Construction: Frame
Electric: Circuit Breakers
Floor: Combo
Roof: Metal Roof
Land Size: Less Than 1/4 Acre
Terms: Owner Consider 2nd
Property Rights: Transient License
Listing Office: At Home in Key West, Inc.
Last Updated: September - 09 - 2024
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