2264 Overseas Highway, Marathon, FL 33050 (MLS# 598993)

2264 Overseas Highway, Marathon, FL 33050

$8,650,000

Property Type: Commercial Bedrooms: 32 Baths: 24 Lot Size (sq. ft.): 60,306 Status: Closed

Current Price: $8,650,000 List Date: 1/01/2022 Last Modified: 12/03/2024

Description

Built in 2018, turnkey waterfront development comprised of eight single family houses currently licensed as weekly vacation rentals, each with four bedrooms and three full bathrooms, built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, kayak launch, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of local dining options, two popular beaches, two major marinas and Marathon Airport. This property is only one hour from the Key West airport and 2.5 hours from the Miami airport. Monthly rental rates currently average $12,400/mo for each unit 1-5 and $16,500/mo for each unit 6-8.

More Information MLS# 598993

Contract Information

Listing Board: Marathon/Lower Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Species List: No Current Price: $8,650,000 Listing Date: 2021-12-29 Sold Price: $8,650,000

Location, Tax & Legal

City: MARATHON Off Shore Island: No Mile Marker: 49 Marathon Neighborhood: Old Town West (11th to 25th) Side: Bay/Gulf Flood Zone: AE,AE,VE Alternate Key #: 1119491 Parcel #: 00102290-000000 Zoning: MU - Mixed Use Commercial Mixed Use Legal: 9 66 32 KEY VACCAS PT LOT 1 AND ADJ PT R-O-W OR71-43 OR73-462 OR499-151/52 OR499-154/55 OR570-338E OR775-977 OR944-192QC Taxes: 35751.58 Tax Year: 2021 Street #: 2264 Street Name: Overseas Street Suffix: Highway Key/Island: Marathon State/Province: FL Zip Code: 33050 Subdivision: Misc Marathon West (49.0) County: Monroe Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W

General Property Description

Realtor.COM Type: Commercial Waterfront: Yes Control Depth: 5 Lot Size: 144*93 Lot SqFt: 60306 Total Units: 0 SqFt Source: Tax Records Total # Buildings: 9 Building SqFt: 2304 Style: Commercial Year Built: 1953 Total Bedrooms: 32 Full Baths: 24 Total Baths: 24

Remarks & Misc

Remarks – Consumer: Built in 2018, turnkey waterfront development comprised of eight single family houses currently licensed as weekly vacation rentals, each with four bedrooms and three full bathrooms, built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, kayak launch, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of local dining options, two popular beaches, two major marinas and Marathon Airport. This property is only one hour from the Key West airport and 2.5 hours from the Miami airport. Monthly rental rates currently average $12,400/mo for each unit 1-5 and $16,500/mo for each unit 6-8. Directions: US-1 South, property is on right hand side just after Marriott in Marathon

Deed Restrictions

No: 1

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

Type

Hotel/Motel: 1 Other Comrcl Style: 1

Fee Includes

None: 1

Dockage

Dock: Wood Dock Privileges: 1

Appliances

Dishwasher: 1 Disposal: 1 Dryer: 1 Range: 1 Refrigerator: 1 Washer: 1

Property Info

# Kitchens: 8 # Refrigerators: 8 # Range/Ovens: 8 # Washers: 8 # Dryers: 8 # Dishwashers: 8 4 Bed/Bath: 8

Cooling

Ceiling Fans(s): 1 Heat Pump: 1

Waterfront

Bay Front: 1 Gulf Front: 1 Open Water: 1

Waterview

Bay/Gulf View: 1 Open Water View: 1

Floor

Tile: 1

Interior Features

Drapes/Blinds Incl: 1 Furnished: 1 Laundry Room: 1 Smoke Alarms: 1 Window Treatments: 1

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Vehicle Storage

Carport: 1 Covered Parking: 1

Construction

Combo Construction: 1 Concrete: 1 Other: 1

Land Size

2 Less Than 5 Acres: 1

Utilities

Buyer to Verify: 1

Miscellaneous

Chickee Hut: 1 Fencing: 1 High Visibility: 1 Highway Frontage: 1 Open Water View: 1 Pool: 1 Storage: 1 Utility Building: 1

Roof

Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Tenant Paid

Tnt Pays No Utils: 1

Status Change Info

Sold Date: 2022-03-04 Sold Price: $8,650,000 Status: Closed

Property Features

Deed Restrictions: No Type: Hotel/Motel; Other Comrcl Style Waterfront: Bay Front; Gulf Front; Open Water Waterview: Bay/Gulf View; Open Water View Dockage: Dock Privileges Vehicle Storage: Carport; Covered Parking Cooling: Ceiling Fans(s); Heat Pump Utilities: Buyer to Verify Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Smoke Alarms; Window Treatments Appliances: Dishwasher; Disposal; Dryer; Range; Refrigerator; Washer Miscellaneous: Chickee Hut; Fencing; High Visibility; Highway Frontage; Open Water View; Pool; Storage; Utility Building Construction: Combo Construction; Concrete; Other Floor: Tile Roof: Metal Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Tenant Paid: Tnt Pays No Utils

Documents

NDA - Required ›

Listing Office: Engel & Völkers Marathon

Last Updated: December - 03 - 2024

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