3591 S Roosevelt Boulevard, Key West, FL 33040 (MLS# 572027)

3591 S Roosevelt Boulevard, Key West, FL 33040

$5,500,000

Property Type: Commercial Square Footage: 21,582 Lot Size (sq. ft.): 57,499 Status: Closed

Current Price: $5,500,000 List Date: 9/20/2016 Last Modified: 9/09/2024

Description

Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. Tenant on property will deliver a cap rate of over 7.5%.

Supplements: The two restaurants and large rear underutilized warehouse deliver 21,582 SF of space. With parking for over 75 cars in the rear and 24 leased spaces, there is further mixed use development opportunity on the property as well. Price is for land and real estate only. This property is being sold as a restaurant leasehold opportunity with leases in place; a turn-key Benihana International franchise owned by the owner of the real estate and a leasehold on an upscale Key West Italian restaurant brand La Trattoria. The property is located directly on A1A. This is a major oceanfront highway in Key West leading to the islands public beaches and resorts.

More Information MLS# 572027

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 Current Price: $5,500,000 Listing Date: 2016-09-20 Sold Price: $5,500,000

Location, Tax & Legal

KW Neighborhood: New Town City: KEY WEST Off Shore Island: No Mile Marker: 4 Side: Ocean Flood Zone: VE Alternate Key #: 1054968 Parcel #: 00054350-000000 Zoning: PS - Public & Semi Public Services Legal: KW KW FWDN SUB PB 1-205 LOTS 1, 2 & PT LOT 3 OCEAN BLVD PLAT1 & PARCEL LYING NW'LY THEREOF OR183-552/555 OR652-375/377 O Taxes: 25501.05 Tax Year: 2015 Street #: 3591 Direction: S Street Name: Roosevelt Street Suffix: Boulevard Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Key West Fwdn Sub (4.0) County: Monroe Area: 04 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Control Depth: 0 Lot Size: 1.32 Lot SqFt: 57499 Total Units: 0 # Parking Spaces: 75 Off Street Parking: yes Building SqFt: 21582 Style: Commercial Living Apx SqFt: 21582 Year Built: 1963

Remarks & Misc

Remarks – Consumer: Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. Tenant on property will deliver a cap rate of over 7.5%. Directions: On South Roosevelt Blvd, next to the Key West International Airport.

Deed Restrictions

Unknown: 1

Association Info

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

Type

Franchise: 1 Office Buildings: 1 Professional Service: 1 Restaurant: 1 Retail: 1 Wholesale Mfg/Wrhse: 1

Fee Includes

None: 1

Dockage

None: 1

Waterfront

None: 1

Waterview

Ocean View: 1 Open Water View: 1

Vehicle Storage

Off Street Parking: 1

Construction

CBS: 1 Combo Construction: 1

Land Size

1 Less Than 2 Acres: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2018-09-21 Sold Price: $5,500,000 Status: Closed

Property Features

Deed Restrictions: Unknown Type: Franchise; Franchise; Office Buildings; Professional Service; Restaurant; Retail; Wholesale Mfg/Wrhse Waterfront: None Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Off Street Parking Utilities: FKAA; Municipal Sewer Construction: CBS; Combo Construction Land Size: 1 Less Than 2 Acres Fee Includes: None

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

Last Updated: September - 09 - 2024

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