524 Front Street, Key West, FL 33040

$2,350,000
Property Type: Commercial Lot Size (sq. ft.): 7,836 Status: Closed
Current Price: $2,350,000 List Date: 8/24/2015 Last Modified: 9/09/2024

Description

Upscale, renovated two-story 9,730 SF building in Old Town. Downstairs is leased to a single tenant with annual increases on a NNN basis comprised of 4,880 SF under air plus a 1,500 SF open patio area. Tenant also pays additional rent (in addition to base and triple net expenses)on a percentage of sales. Owner occupied 2nd floor has an impressive suite of offices, storage rooms, mechanical room, 2 one-bedroom apartments opening to wrap around balconies and a staircase entrance to the roof. This property is located in a transient license receiver zone affording the potential to increase income thru the short term rental of the two apartments on premises. Building is located between two large restaurants and adjacent to the Ocean Key Resort, Pier House Resort, The Galleon Resort, A&B Lobster

More Information MLS# 122026

Contract Information

Listing Board: Key West Association Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No For Sale/Lease: For Sale Current Price: $2,350,000 Listing Date: 2015-08-24 Sold Price: $2,350,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 1 Side: Bay/Gulf Alternate Key #: 1000329 Parcel #: 00000330-000000 Bldg Nbr: 0 Legal: Kw Pt Lt 2 and 3 Sqr 6 G49-643/44 and as per Monroe County Tax Records Taxes: 27207 Tax Year: 2014 Street #: 524 Street Name: Front Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Old Town - Unlisted (1.0) County: Monroe Area: 01 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Lot Size: 80' X 78' Lot SqFt: 7836 Business Name: n/a # Parking Spaces: 0 # Stories: 2 Building Ht. Ft.: 0 Total # Buildings: 1 Building SqFt: 9730 Style: Commercial Year Built: 1977

Remarks & Misc

Remarks – Consumer: Upscale, renovated two-story 9,730 SF building in Old Town. Downstairs is leased to a single tenant with annual increases on a NNN basis comprised of 4,880 SF under air plus a 1,500 SF open patio area. Tenant also pays additional rent (in addition to base and triple net expenses)on a percentage of sales. Owner occupied 2nd floor has an impressive suite of offices, storage rooms, mechanical room, 2 one-bedroom apartments opening to wrap around balconies and a staircase entrance to the roof. This property is located in a transient license receiver zone affording the potential to increase income thru the short term rental of the two apartments on premises. Building is located between two large restaurants and adjacent to the Ocean Key Resort, Pier House Resort, The Galleon Resort, A&B Lobster Directions: On Front Street between Duval and Simonton Streets.

Deed Restrictions

Unknown: 1

Association Info

Mandatory Home Owners Asc: No Association Fee $: 0

License Info

# of City License: Galleries Non Trans Rntl Lic: 1

Type

Franchise: 1 Office Buildings: 1 Other Comrcl Style: 1 Professional Service: 1 Restaurant: 1 Retail: 1 Other Services: 1

Fee Includes

None: 1

Dockage

None: 1

Property Info

Gross Annual Expense: 0 NOI: 0

Cooling

Central Air: 1 Heat Pump: 1

Electric

Circuit Breakers: 1

Floor

Carpet: 1 Concrete: 1 Tile: 1

Windows/Doors

Glass Doors: 1 Impact Rstnce Window: 1

Construction

CBS: 1

Land Size

Less Than 1/4 Acre: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Title

Negotiable: 1

Miscellaneous

High Visibility: 1 Patio: 1 Residence on Premise: 1 Storage: 1

Roof

Shingle Roof: 1

Financial Status

Potential Short Sale: No

Tenant Paid

Electric: 1 Garbage: 1 Insurance: 1 Sewer: 1 Taxes: 1 Water: 1

Status Change Info

Sold Date: 2016-07-28 Sold Price: $2,350,000 Status: Closed

Property Features

Deed Restrictions: Unknown License Info: Non Trans Rntl Lic Type: Franchise; Franchise; Office Buildings; Other Comrcl Style; Professional Service; Restaurant; Retail; Other Services Dockage: None Cooling: Central Air; Heat Pump Utilities: FKAA; Municipal Sewer Miscellaneous: High Visibility; Patio; Residence on Premise; Storage Construction: CBS Electric: Circuit Breakers Floor: Carpet; Concrete; Tile Roof: Shingle Roof Land Size: Less Than 1/4 Acre Fee Includes: None Title: Negotiable Tenant Paid: Electric; Garbage; Insurance; Sewer; Taxes; Water
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: September - 09 - 2024
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