$4,975,000
Key West, FL 33040
MLS# 604404
6 beds | 5 baths | 3118 sqft
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Property Description
KEY WEST WATERFRONT INVESTMENT OPPORTUNITY!! Once in a lifetime chance to restore and/or redevelop a commercial waterfront property located on the edge of Old Town, Key West. Built prior to 1912 and owned by the same family for over 100 years, 901 Eisenhower Drive is well-sited on an expansive 15,609SF lot and zoned as General Commercial offering endless investment potential. Conditional uses include a restaurant, hotel, or marina. The property is currently set up as a legal five-unit multi-family rental with two structures consisting of a historic main home and a separate cottage. The main residence has 4 units including 5 bedrooms and 4 bathrooms while the separate cottage includes 2 bedrooms and 1 bathroom. Located on Garrison Bight and just a half a block away from Bayview Park, Tennis Courts, and biking distance to the island's best beaches and amenities. Buyer to verify restoration and or development rights. Tenant Occupied/48 hours notice to show - we may not be able to all units on the same day.
Details
Maps
Documents
Contract Information
Current Price: $4,975,000
Listing Date: 2023-03-01
Listing Board: Key West Association
List Price: $4,975,000
Limitd Reprsntation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Species List: No
Location, Tax & Legal
Street #: 901
Street Name: Eisenhower
Street Suffix: Drive
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Off Shore Island: No
Subdivision: Benj Alburys Subd (2.0)
Mile Marker: 2
County: Monroe
Area: 01 - Key West
KW Neighborhood: The Meadows
Marathon Neighborhood: N/A
Side: Bay/Gulf
Flood Zone: AE,AE
Alternate Key #: 1024015
Parcel #: 00023230-000000
Zoning: CG - General Commercial
Legal: KW BENJ ALBURYS SUBD PB1-3 PT LOT 11 & ALL LOT 12 OF TR 7 Y-586 B3-150 OR393-833/34 OR117-41/42 OR186-490/91 OR771-402/0
Taxes: 12530.8
Tax Year: 2021
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 76x175
Lot SqFt: 15609
Waterfront: Yes
Control Depth: 4
# Parking Spaces: 5+
Off Street Parking: Yes
# Stories: 2
Building Ht. Ft.: 30
Total # Buildings: 2
Building SqFt: 3788
SqFt Source: Tax Records
Living Apx SqFt: 3118
Total Units: 5
Year Built: 1912
Total Bedrooms: 6
Full Baths: 5
Total Baths: 5
Remarks & Misc
Remarks – Consumer: KEY WEST WATERFRONT INVESTMENT OPPORTUNITY!! Once in a lifetime chance to restore and/or redevelop a commercial waterfront property located on the edge of Old Town, Key West. Built prior to 1912 and owned by the same family for over 100 years, 901 Eisenhower Drive is well-sited on an expansive 15,609SF lot and zoned as General Commercial offering endless investment potential. Conditional uses include a restaurant, hotel, or marina. The property is currently set up as a legal five-unit multi-family rental with two structures consisting of a historic main home and a separate cottage. The main residence has 4 units including 5 bedrooms and 4 bathrooms while the separate cottage includes 2 bedrooms and 1 bathroom. Located on Garrison Bight and just a half a block away from Bayview Park, Tennis Courts, and biking distance to the island's best beaches and amenities. Buyer to verify restoration and or development rights. Tenant Occupied/48 hours notice to show - we may not be able to all units on the same day.
Status Change Info
Status: Active
License Info
# of City License: 5
Association Info
Mandatory Home Owners Asc: No
Voluntary Home Owners Asc: No
1st Right of Refusal: No
Misc Property Info
Recorded Plat: Yes
Accounts & Meters
# Electric Meters: 5
Property Info
# Kitchens: 5
1 Bed/Bath: 3
2 Bed/Bath: 2
Cash Flow (Pre-Tax): 100800
Vehicle Storage
Car(s): 4+
Auction Info
Auction: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Deed Restrictions: No
License Info: Non Trans Rntl Lic
Type: Apartment 3 or more; Other Comrcl Style
Waterfront: Bay Front
Waterview: Bay/Gulf View
Dockage: Basin; Other Dockage
Vehicle Storage: Off Street Parking
Cooling: Ceiling Fans(s); Wall/Window Unit(s)
Utilities: Buyer to Verify; FKAA; Municipal Sewer; Separate Meters
Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer
Miscellaneous: High Traffc Location; High Visibility; Residence on Premise
Construction: Frame
Electric: Circuit Breakers; Single Phase
Windows/Doors: Jalousie Windows; Other Windows/Doors
Floor: Tile; Wood
Roof: Metal Roof
Land Size: 1/4 - 1/2 Acre
Fee Includes: None
Terms: Buyer Obtain Finance; No Seller Finance; Private Financing; Other Financing
Title: Negotiable
Tenant Paid: Cable; Electric; Water
Property Rights: Multi-Use/Commercial; Transfer Bldg Rights; Other/See Remarks
Listing Office: Truman & Co. (KW)
Last Updated: April - 01 - 2024
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