325 Duval Street, Key West, FL 33040

$10,000,000
Property Type: Commercial Bedrooms: 14 Baths: 12 Square Footage: 2,640 Lot Size (sq. ft.): 12,725 Status: Closed
Current Price: $10,000,000 List Date: 4/11/2023 Last Modified: 9/09/2024

Description

Possible Short term Owner Financing Considered - Lower Duval Street, 12 unit guesthouse complex offering over sized single rooms, suites & 2 bedroom units with kitchens with large heated pool. - - - Perfect location within the 2-4 block Entertainment District of Old Town inclusive of bars, restaurants, theaters, Mallory Square attractions and the cruise ship port. >>>> Huge 13,000 sq ft parcel buffered from traffic & street noise, with rooms being setback 40' from Duval. The 200' deep parcel provides a unique 100 foot separation between the front & rear, 3 & 2 story structures - offering guests considerably more privacy. *** Valuable 6 space, compact car guest parking situated between the two collective 7,000 sq.ft buildings. Casa 325 Suites offers a melding of a (7) unit, 100 year old 3 story, ship builders' construction - along with a more recently developed, 5 unit, 2 story structure offering larger rooms & vaulted ceilings. +++ All units have custom furniture built from reclaimed Dade County Pine. Large 2 bdrm ADA unit with kitchen. Prime Duval Street attractions booth included, situated at driveway entrance, currently leased out but should be operated by the Guesthouse operation itself. ||||| Go to Casa325.com for full array of pictures, layout of units & rates. Excellent Trip Advisor Rating. There are also (13) electric meters & ( 7 ) water meters on site. ** See 'Documents for Survey, Licenses & aerial with lot lines ** CASH FLOW - 2021 - $1.33 mil gross / NOI - $705,000. 89% Average Occupancy |2022 - $1.3 mil gross / NOI $600,000 - 88% Average Occupancy. $665,000 Advance Bookings as of 10/2023 - 12/2024 The over sized rooms and property amenities will support higher rates than what is being charged. (7) out of the 12 units have kitchens

More Information MLS# 598172

Contract Information

Listing Board: Key West Association Limited Representation: No Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Species List: No Current Price: $10,000,000 Listing Date: 2021-10-20 Sold Price: $10,000,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Off Shore Island: No Mile Marker: 1 Marathon Neighborhood: N/A Side: N/A Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 1004499 Parcel #: 00004320-000000 Zoning: HRCC - Historic Residential Commercial Core Legal: KW PT LOT 4 SQR 24 H3-262 G39-327/28 OR107-365/66 OR1190-2210 OR1198-1129/30 OR1235-1123D/C OR1235-1124/43 OR1235-1146/ Taxes: 29998.8 Tax Year: 2020 Street #: 325 Street Name: Duval 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: 55' x 241 Lot SqFt: 12725 Business Name: casa325 suites Total Units: 0 Year Established: 1989-12-31 # Parking Spaces: 6 Off Street Parking: yes # Stories: 2 SqFt Source: Property Data Card Total # Buildings: 2 Building SqFt: 6235 Style: Commercial Living Apx SqFt: 2640 Year Built: 1933 Total Bedrooms: 14 Full Baths: 12 Total Baths: 12

Remarks & Misc

Remarks – Consumer: Possible Short term Owner Financing Considered - Lower Duval Street, 12 unit guesthouse complex offering over sized single rooms, suites & 2 bedroom units with kitchens with large heated pool. - - - Perfect location within the 2-4 block Entertainment District of Old Town inclusive of bars, restaurants, theaters, Mallory Square attractions and the cruise ship port. >>>> Huge 13,000 sq ft parcel buffered from traffic & street noise, with rooms being setback 40' from Duval. The 200' deep parcel provides a unique 100 foot separation between the front & rear, 3 & 2 story structures - offering guests considerably more privacy. *** Valuable 6 space, compact car guest parking situated between the two collective 7,000 sq.ft buildings. Casa 325 Suites offers a melding of a (7) unit, 100 year old 3 story, ship builders' construction - along with a more recently developed, 5 unit, 2 story structure offering larger rooms & vaulted ceilings. +++ All units have custom furniture built from reclaimed Dade County Pine. Large 2 bdrm ADA unit with kitchen. Prime Duval Street attractions booth included, situated at driveway entrance, currently leased out but should be operated by the Guesthouse operation itself. ||||| Go to Casa325.com for full array of pictures, layout of units & rates. Excellent Trip Advisor Rating. There are also (13) electric meters & ( 7 ) water meters on site. ** See 'Documents for Survey, Licenses & aerial with lot lines ** CASH FLOW - 2021 - $1.33 mil gross / NOI - $705,000. 89% Average Occupancy |2022 - $1.3 mil gross / NOI $600,000 - 88% Average Occupancy. $665,000 Advance Bookings as of 10/2023 - 12/2024 The over sized rooms and property amenities will support higher rates than what is being charged. (7) out of the 12 units have kitchens

Deed Restrictions

No: 1

Association Info

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

License Info

# of City License: 12 # of County License: 12 # of Transient Licns: 12 Other/See Remarks: 1

Type

Hotel/Motel: 1

Fee Includes

None: 1

Dockage

None: 1

Accounts & Meters

# Water Meters: 7 # Electric Meters: 13

Appliances

Refrigerator: 1 Washer: 1

Property Info

# Kitchens: 7 # Refrigerators: 12 # Washers: 3 # Dryers: 3 License Included: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1 Heat Pump: 1 Wall/Window Unit(s): 1

Waterfront

None: 1

Electric

Circuit Breakers: 1

Waterview

No Waterview: 1

Floor

Wood: 1

Interior Features

Cathedral Ceilings: 1 Drapes/Blinds Incl: 1 Furnished: 1 Laundry Room: 1 Smoke Alarms: 1 Split Bedroom: 1 Window Treatments: 1

Windows/Doors

Double Hung Windows: 1

Vehicle Storage

Guest Parking: 1 Off Street Parking: 1

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Title

Negotiable: 1

Property Rights

Transient License: 1

Miscellaneous

Lobby: 1 Patio: 1 Pool: 1 Utility Building: 1

Roof

Shingle Roof: 1 Tin Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Shutters

Panel: 1

Status Change Info

Sold Date: 2023-12-15 Sold Price: $10,000,000 Status: Closed

Property Features

Deed Restrictions: No License Info: Other/See Remarks Property Info: License Included Type: Hotel/Motel Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air; Heat Pump; Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Interior Features: Cathedral Ceilings; Drapes/Blinds Incl; Furnished; Laundry Room; Smoke Alarms; Split Bedroom; Window Treatments Appliances: Refrigerator; Washer Miscellaneous: Lobby; Patio; Pool; Utility Building Construction: Frame Electric: Circuit Breakers Shutters: Panel Floor: Wood Roof: Shingle Roof; Tin Roof Land Size: Less Than 1/4 Acre Fee Includes: None Title: Negotiable Property Rights: Transient License
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: September - 09 - 2024
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.