$5,200,000
Key West, FL 33040
MLS# 116484
Status: Closed
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Property Description
11% Cap Rate! One of the most beautiful multi-use guesthouse compounds in Key West, includes 4 parcels, 17 trans lic plus 2 non-trans units, a licensed restaurant, and available 5 COP-S full liquor license for $1560/yr. Just off Duval on quaint Appelrouth Ln., the lush, tropically landscaped complex contains 6 buildings, heated pool, large hot tub, gym, and 8 off-street parking spaces. Upside potential is enormous by implementing the many sources of revenue options available: an upscale SPA, office, restaurant/bar, retail, guesthouse. A truly unique historic property investment in the very heart of the Old Town Key West commercial district.
Details
Maps
Contract Information
Current Price: $5,200,000
Listing Date: 2012-05-07
Listing Board: Key West Association
Leased Price Monthly: $5,200,000
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 #: 409
Street Name: Appelrouth
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unrecord (1.0)
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 20000
Waterfront: No
Business Name: Big Rubys Guesthouse
# Parking Spaces: 8
# Stories: 3
Total # Buildings: 8
Building SqFt: 12101
Year Built: 1977
Association Info
Mandatory Home Owners Asc: No
License Info
# of City License: 2
# of County License: 2
# of Transient Licns: 3
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2013-06-28
Leased Date: 2013-07-19
Leased Price Monthly: $5,200,000
Status: Closed
Property Features
Deed Restrictions: Unknown
License Info: 2-Cop (Beer & Wine); 5-Cop (Transferable); Non Trans Rntl Lic
Type: Hotel/Motel; Office Buildings; Restaurant; Retail; Other Services
Dockage: None
Cooling: Ceiling Fans(s); Wall/Window Unit(s)
Utilities: FKAA; Generator; Municipal Sewer; Propane; Separate Meters
Miscellaneous: Fencing; High Visibility; Hot Tub; Lobby; Patio; Pool; Residence on Premise; Spa; Storage; Utility Building
Construction: CBS; Combo Construction; Frame
Floor: Carpet; Tile; Wood
Roof: Combo Roof; Metal Roof
Land Size: 1/4 - 1/2 Acre
Terms: Assumable-Qualify; Owner Consider 2nd; Seller Finance Psble; Other Financing
Property Rights: Beverage License; Transient License
Listing Office: At Home in Key West, Inc.
Last Updated: September - 09 - 2024
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