58182 Overseas Highway, Marathon, FL 33050 (MLS# 577031)

58182 Overseas Highway, Marathon, FL 33050

$6,450,000

Property Type: Commercial Bedrooms: 26 Baths: 16.4 Lot Size (sq. ft.): 119,835 Status: Closed

Current Price: $6,450,000 List Date: 10/11/2017 Last Modified: 9/10/2024

Description

Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately!

Supplements: The recently constructed (2000) elevated 10-unit suite hotel (made up of 8 two bedroom rooms and 2 three bedroom rooms for a total of 22 bedrooms) plus a 4 bedroom 2 bath oceanfront home. The large property has an in-ground pool, 195 ft. of beach overlooking the Atlantic Ocean, separate office, laundry room, manager's apartment, elevator, and covered parking. Some of the photos are pre-Irma and the name La Te Da by the Sea does not convey.

More Information MLS# 577031

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: $6,450,000 Listing Date: 2017-10-09 Sold Price: $6,450,000

Location, Tax & Legal

KW Neighborhood: Outside of Key West City: MARATHON Off Shore Island: No Mile Marker: 58.9 Side: Ocean Alternate Key #: 1454036 Add'l Parcel #1: 00371000-000000 Parcel #: 00370940-000000-00370980-00000 Add'l Parcel #2: 00371060-000000 Zoning: MU - Mixed Use Commercial Mixed Use Legal: CRAINS SUBD PB1-51 GRASSY KEY LOTS 1 2 & 3 SQR 36 & W'LY 15' UNNAMED ST ADJ LOT 1 RES B-C-C 8/11/61 & ADJ PORTION OF FLA Taxes: 28338.08 Tax Year: 2016 Street #: 58182 Street Name: Overseas Street Suffix: Highway Key/Island: Marathon State/Province: FL Zip Code: 33050 Subdivision: Grassy Key (58.9) County: Monroe Area: 19 - Crawl Key & Grassy Key

General Property Description

Realtor.COM Type: Commercial Waterfront: Yes Control Depth: 3 Lot SqFt: 119835 Business Name: La Te Da by the Sea Total Units: 38 Year Established: 2017-01-01 # Parking Spaces: 70 # Stories: 3 Building Ht. Ft.: 35 SqFt Source: Property Data Card Total # Buildings: 3 Building SqFt: 13586 Style: Commercial Year Built: 2000 Total Bedrooms: 26 Full Baths: 16 Half Baths: 4 Total Baths: 16.4

Remarks & Misc

Remarks – Consumer: Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately! Directions: Oceanfront at MM58 in Grassy Key between Marathon and Duck Key.

Deed Restrictions

Unknown: 1

Association Info

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

License Info

# of Transient Licns: 38

Type

Bar: 1 Grocery/Convenience: 1 Hotel/Motel: 1 Mobile Home Park: 1 Restaurant: 1 Retail: 1

Fee Includes

None: 1

Dockage

None: 1

Appliances

Dishwasher: 1 Range: 1 Refrigerator: 1

Property Info

# Kitchens: 11 # Refrigerators: 11 # Range/Ovens: 11 # Dishwashers: 11 2 Bed/Bath: 8 3 Bed/Bath: 2 4 Bed/Bath: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1

Waterfront

Oceanfront: 1 Open Water: 1

Waterview

Ocean View: 1 Open Water View: 1

Floor

Tile: 1

Interior Features

Drapes/Blinds Incl: 1 Furnished: 1 Laundry Room: 1 Split Bedroom: 1 Window Treatments: 1

Vehicle Storage

Covered Parking: 1 Guest Parking: 1 Off Street Parking: 1

Construction

CBS: 1

Land Size

2 Less Than 5 Acres: 1

Terms

No Seller Finance: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Property Rights

Transient License: 1

Miscellaneous

Elevator: 1 High Traffc Location: 1 High Visibility: 1 Highway Frontage: 1 Open Water View: 1 Pool: 1 Residence on Premise: 1

Roof

Concrete Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Shutters

Accordion: 1

Status Change Info

Sold Date: 2018-09-18 Sold Price: $6,450,000 Status: Closed

Property Features

Deed Restrictions: Unknown Type: Bar; Grocery/Convenience; Hotel/Motel; Mobile Home Park; Restaurant; Retail Waterfront: Oceanfront; Open Water Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Covered Parking; Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air Utilities: FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Split Bedroom; Window Treatments Appliances: Dishwasher; Range; Refrigerator Miscellaneous: Elevator; High Traffc Location; High Visibility; Highway Frontage; Open Water View; Pool; Residence on Premise Construction: CBS Shutters: Accordion Floor: Tile Roof: Concrete Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: No Seller Finance Property Rights: Transient License

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

Last Updated: September - 10 - 2024

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