323 Petronia Street, Key West, FL 33040 (MLS# 578214)

323 Petronia Street, Key West, FL 33040

$1,570,990

Property Type: Commercial Bedrooms: 5 Baths: 6 Square Footage: 2,889 Lot Size (sq. ft.): 9,476 Status: Closed

Current Price: $1,570,990 List Date: 1/13/2018 Last Modified: 9/09/2024

Description

A rare opportunity in Old Town in the vibrant Petronia St corridor in the Bahama Village neighborhood. Two parcels & Three buildings: (325) Bldg #1 recently upgraded building with retail fronting on Petronia St along with 7 parking spaces, a 1-bedroom vacation rental upstairs (323) Bldgs #2&3 Identical single story buildings in the rear each containing 2 1-bedroom long-term rentals. Given the location and the 9476 sf lot with parking, these parcels are ripe for redevelopment (with City Planning Board approval) or conversion to vacation rentals. There is space for more commercial on Petronia St and the razing of bldgs #2&3 for 4 units, total of 5 vacation rental complex amidst tropical gardens and pool. Or, simply renovate bldgs #2&3 for long-term or vacation rentals

Supplements: to increase income stream potential. Located in the City's transient receiver zone.

More Information MLS# 578214

Contract Information

Listing Board: Key West Association 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: $1,570,990 Listing Date: 2018-01-12 Sold Price: $1,570,990

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 0 Side: Median Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 1013684 Add'l Parcel #1: 1013692 (323) Parcel #: 00013290-00000&00013300-000000 Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med Legal: KW LT 11 SQR 1 TR 3 AND PT ADJ VACATED ALLEY and KW LT 12 SQR 1 TR 3 Taxes: 11689 Tax Year: 2017 Street #: 323 Street Name: Petronia Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Old Town - Unlisted (1.0) County: Monroe Area: 02 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Control Depth: 0 Lot Size: 103 x 92 Lot SqFt: 9476 Total Units: 6 # Parking Spaces: 7 Off Street Parking: YES # Stories: 2 SqFt Source: Property Data Card Total # Buildings: 3 Building SqFt: 2889 Style: Commercial Living Apx SqFt: 2889 Year Built: 1978 Total Bedrooms: 5 Full Baths: 6 Total Baths: 6

Remarks & Misc

Remarks – Consumer: A rare opportunity in Old Town in the vibrant Petronia St corridor in the Bahama Village neighborhood. Two parcels & Three buildings: (325) Bldg #1 recently upgraded building with retail fronting on Petronia St along with 7 parking spaces, a 1-bedroom vacation rental upstairs (323) Bldgs #2&3 Identical single story buildings in the rear each containing 2 1-bedroom long-term rentals. Given the location and the 9476 sf lot with parking, these parcels are ripe for redevelopment (with City Planning Board approval) or conversion to vacation rentals. There is space for more commercial on Petronia St and the razing of bldgs #2&3 for 4 units, total of 5 vacation rental complex amidst tropical gardens and pool. Or, simply renovate bldgs #2&3 for long-term or vacation rentals Directions: US1/Truman Ave South to Whitehead Street. Right on Whitehead Street and go 2 blocks to Petronia St. Left on Petronia St and destination in in the middle of the block on the right.

Deed Restrictions

No: 1

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee $: 0

License Info

# of City License: 6 Non Trans Rntl Lic: 1 Other/See Remarks: 1

Type

Apartment 3 or more: 1 Retail: 1

Fee Includes

None: 1

Dockage

None: 1

Accounts & Meters

# Sewer Accounts: 2 # Water Meters: 2 # Electric Meters: 6

Appliances

Dryer: 1 Range: 1 Refrigerator: 1 Washer: 1

Property Info

# Kitchens: 5 # Refrigerators: 5 # Range/Ovens: 5 # Washers: 1 # Dryers: 1 License Included: 1 1 Bed/Bath: 5

Cooling

Ceiling Fans(s): 1 Wall/Window Unit(s): 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Tile: 1

Windows/Doors

Aluminum Windows: 1 Other Windows/Doors: 1

Vehicle Storage

Car(s): 4+ Off Street Parking: 1

Construction

CBS: 1

Land Size

Less Than 1/4 Acre: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Property Rights

Multi-Use/Commercial: 1 Tranfrble Comm SqFt: 1

Miscellaneous

High Traffc Location: 1 Residence on Premise: 1 Storage: 1

Roof

Metal Roof: 1 Tar/Gravel Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Tenant Paid

Electric: 1

Status Change Info

Sold Date: 2018-04-02 Sold Price: $1,570,990 Status: Closed

Property Features

Deed Restrictions: No License Info: Non Trans Rntl Lic; Other/See Remarks Property Info: License Included Type: Apartment 3 or more; Retail Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Appliances: Dryer; Range; Refrigerator; Washer Miscellaneous: High Traffc Location; Residence on Premise; Storage Construction: CBS Floor: Tile Roof: Metal Roof; Tar/Gravel Roof Land Size: Less Than 1/4 Acre Fee Includes: None Tenant Paid: Electric Property Rights: Multi-Use/Commercial; Tranfrble Comm SqFt

Listing Office: Truman & Co. (KW)

Last Updated: September - 09 - 2024

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