409 Appelrouth Lane, Key West, FL 33040 (MLS# 116484)

409 Appelrouth Lane, Key West, FL 33040

$5,200,000

Property Type: Commercial Lot Size (sq. ft.): 20,000 Status: Closed

Current Price: $5,200,000 List Date: 5/07/2012 Last Modified: 9/09/2024

Description

11% Cap Rate! One of the most beautiful multi-use guesthouse compounds in Key West, includes 4 parcels, 17 trans lic plus 2 non-trans units, a licensed restaurant, and available 5 COP-S full liquor license for $1560/yr. Just off Duval on quaint Appelrouth Ln., the lush, tropically landscaped complex contains 6 buildings, heated pool, large hot tub, gym, and 8 off-street parking spaces. Upside potential is enormous by implementing the many sources of revenue options available: an upscale SPA, office, restaurant/bar, retail, guesthouse. A truly unique historic property investment in the very heart of the Old Town Key West commercial district.

More Information MLS# 116484

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: $5,200,000 Listing Date: 2012-05-07 Sold Price: $5,200,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 0 Side: Median Alternate Key #: 1010308 Parcel #: 517 Whitehead St.-519 Whitehea Bldg Nbr: 0 Zoning: HRO - Historic Residential/Office Legal: KW PT LOT 4 SQR 51 QQ-359 G11-40 G25-123/32 COUNTY JUDGE'S PROB PROG DOCKET 9-82 OR711-177/79 OR747- Taxes: 20882.79 Tax Year: 2010 Street #: 409 Street Name: Appelrouth Street Suffix: Lane Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Old Town - Unrecord (1.0) Area: 01 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Lot SqFt: 20000 Business Name: Big Rubys Guesthouse # Parking Spaces: 8 # Stories: 3 Building Ht. Ft.: 0 Total # Buildings: 8 Building SqFt: 12101 Style: Commercial Year Built: 1977

Remarks & Misc

Remarks – Consumer: 11% Cap Rate! One of the most beautiful multi-use guesthouse compounds in Key West, includes 4 parcels, 17 trans lic plus 2 non-trans units, a licensed restaurant, and available 5 COP-S full liquor license for $1560/yr. Just off Duval on quaint Appelrouth Ln., the lush, tropically landscaped complex contains 6 buildings, heated pool, large hot tub, gym, and 8 off-street parking spaces. Upside potential is enormous by implementing the many sources of revenue options available: an upscale SPA, office, restaurant/bar, retail, guesthouse. A truly unique historic property investment in the very heart of the Old Town Key West commercial district. Directions: On Appelrouth Lane between Duval and Whitehead Streets.

Deed Restrictions

Unknown: 1

Association Info

Mandatory Home Owners Asc: No Association Fee $: 0

License Info

# of City License: 2 # of County License: 2 # of Transient Licns: 3 2-Cop (Beer & Wine): 1 5-Cop (Transferable): 1 Non Trans Rntl Lic: 1

Type

Hotel/Motel: 1 Office Buildings: 1 Restaurant: 1 Retail: 1 Other Services: 1

Dockage

None: 1

Property Info

Gross Annual Expense: 0 NOI: 0

Cooling

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

Floor

Carpet: 1 Tile: 1 Wood: 1

Windows/Doors

Double Hung Windows: 1 French Doors: 1 Glass Doors: 1 Wood Windows: 1

Construction

CBS: 1 Combo Construction: 1 Frame: 1

Land Size

1/4 - 1/2 Acre: 1

Terms

Assumable-Qualify: 1 Owner Consider 2nd: 1 Seller Finance Psble: 1 Other Financing: 1

Utilities

FKAA: 1 Generator: 1 Municipal Sewer: 1 Propane: 1 Separate Meters: 1

Property Rights

Beverage License: 1 Transient License: 1

Miscellaneous

Fencing: 1 High Visibility: 1 Hot Tub: 1 Lobby: 1 Patio: 1 Pool: 1 Residence on Premise: 1 Spa: 1 Storage: 1 Utility Building: 1

Roof

Combo Roof: 1 Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2013-07-19 Sold Price: $5,200,000 Status: Closed

Property Features

Deed Restrictions: Unknown License Info: 2-Cop (Beer & Wine); 5-Cop (Transferable); Non Trans Rntl Lic Type: Hotel/Motel; Office Buildings; Restaurant; Retail; Other Services Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Generator; Municipal Sewer; Propane; Separate Meters Miscellaneous: Fencing; High Visibility; Hot Tub; Lobby; Patio; Pool; Residence on Premise; Spa; Storage; Utility Building Construction: CBS; Combo Construction; Frame Floor: Carpet; Tile; Wood Roof: Combo Roof; Metal Roof Land Size: 1/4 - 1/2 Acre Terms: Assumable-Qualify; Owner Consider 2nd; Seller Finance Psble; Other Financing Property Rights: Beverage License; Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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