$2,900,000
Key West, FL 33040
MLS# 116627
Status: Closed
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Property Description
Established Motel and Hostel has 17 transient licenses, total of 21 bedrooms. Owner may offer financing to qualified buyer. Money making operation. 10% cap rate with net of $332,100 in 2011. Current owner has plans for 17 rooms, a three-story replacement building which was submitted to the City of Key West. Currently operated as 14 private hotel rooms (one handicap) and three hostel rooms. Corner property with several parking spaces. There is a bike rental license included. Gross over $600,000/yr. Extra storage & housekeeping rooms. Large lot & room for pool.
Details
Contract Information
Current Price: $2,900,000
Listing Date: 2012-06-18
Listing Board: Key West Association
Leased Price Monthly: $2,900,000
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 #: 716
Street Name: South
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: White & Pierce Diagram (1.0)
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 132 ' X 104'
Lot SqFt: 13743
Waterfront: No
Business Name: Sea Shell Motel
# Stories: 2
Building Ht. Ft.: 20
Total # Buildings: 4
Building SqFt: 7826
Total Units: 17
Year Built: 1948
Association Info
Mandatory Home Owners Asc: No
License Info
# of City License: 4
# of Transient Licns: 2
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2013-09-30
Leased Date: 2013-10-31
Leased Price Monthly: $2,900,000
Status: Closed
Property Features
Deed Restrictions: Unknown
License Info: Non Trans Rntl Lic
Type: Hotel/Motel
Dockage: None
Cooling: Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Miscellaneous: Fencing; Manager on Premises; Residence on Premise
Construction: CBS; Stucco
Electric: Circuit Breakers
Land Size: 1/4 - 1/2 Acre
Title: Negotiable
Property Rights: Transient License
Listing Office: At Home in Key West, Inc.
Last Updated: September - 09 - 2024
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