810-812 Duval Street, Key West, FL 33040 (MLS# 586161)

810-812 Duval Street, Key West, FL 33040

$6,950,000

Property Type: Commercial Bedrooms: 11 Baths: 11.2 Lot Size (sq. ft.): 10,703 Status: Closed

Current Price: $6,950,000 List Date: 6/18/2019 Last Modified: 9/09/2024

Description

Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St and equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy. With an excellent ROI plus occupancy upside, the 11 exquisitely appointed guest rooms are each unique and are situated in 4 historic homes on nearly 1/4 acre of land in the heart of Key West's Commercial District. Lush tropical gardens, pools and spa create an enchanting paradise for guests who frequently visit the inn. With 20 years of success, the Tropical Inn has a large percentage of repeat guests. Tropical Inn consistently outperforms the average daily rate for Key West B&B's and 2019 revenue is up over 13% from 2018. The property consists of 4 parcels with 11 transient licenses and a commercial retail space on Duval St.

Supplements: currently leased by Vino's wine bar where guests enjoy a daily Happy Hour. Guests are also served continental breakfast and fresh fruit daily. Beautifully maintained structures and grounds along with a long consistent history of excellent financials make Tropical Inn a rock solid investment ready for a new owner to take the reigns and increase its enduring prosperity.

More Information MLS# 586161

Contract Information

Listing Board: Key West Association Limited Representation: No Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Current Price: $6,950,000 Listing Date: 2019-06-18 Sold Price: $6,950,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 1 Marathon Neighborhood: N/A Side: N/A Flood Zone: X Alternate Key #: 1017361 Add'l Parcel #1: 00016940-000000 Parcel #: 00016950-000000 Add'l Parcel #2: 00016990-000000 Bldg Nbr: 4 Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl Legal: KW PT LOT 1 SQR 6 TR 4 and KW PT LOT 1 SQR 6 TR 4 G49-535/36 and KW PT LOT 1 SQR 6 TR 4 D2-234 and KW PT LOT 1 SQR 6 TR Taxes: 35214.39 Tax Year: 2018 Street #: 810-812 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: Add'l Parcel #3 00016980-000000 Lot SqFt: 10703 Business Name: Tropical Inn Total Units: 12 Year Established: 1999-10-28 # Parking Spaces: 2 Off Street Parking: Yes # Stories: 1 SqFt Source: Property Data Card Total # Buildings: 4 Building SqFt: 4429 Style: Commercial Year Built: 1890 Total Bedrooms: 11 Full Baths: 11 Half Baths: 2 Total Baths: 11.2

Remarks & Misc

Remarks – Consumer: Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St and equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy. With an excellent ROI plus occupancy upside, the 11 exquisitely appointed guest rooms are each unique and are situated in 4 historic homes on nearly 1/4 acre of land in the heart of Key West's Commercial District. Lush tropical gardens, pools and spa create an enchanting paradise for guests who frequently visit the inn. With 20 years of success, the Tropical Inn has a large percentage of repeat guests. Tropical Inn consistently outperforms the average daily rate for Key West B&B's and 2019 revenue is up over 13% from 2018. The property consists of 4 parcels with 11 transient licenses and a commercial retail space on Duval St. Directions: US1 South to Duval Street. Go right (north) on Duval St for 1 1/2 blocks. Tropical Inn is then on the left (west) side of Duval Street. Do not disturb business. Listing Agent must be present.

Association Info

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

License Info

# of Transient Licns: 11

Type

Bar: 1 Hotel/Motel: 1 Restaurant: 1 Retail: 1

Fee Includes

None: 1

Dockage

None: 1

Accounts & Meters

# Sewer Accounts: 5 # Water Meters: 5 # Electric Meters: 5

Appliances

Dishwasher: 1 Dryer: 1 Refrigerator: 1 Washer: 1

Property Info

# Kitchens: 2 # Refrigerators: 13 # Washers: 2 # Dryers: 3 # Dishwashers: 1

Cooling

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

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Carpet: 1 Tile: 1 Wood: 1

Interior Features

Cathedral Ceilings: 1 Drapes/Blinds Incl: 1 Entrance Foyer: 1 Furnished: 1 Laundry Room: 1 Pantry: 1 Smoke Alarms: 1 Whirlpool Bath Tub: 1 Window Treatments: 1

Windows/Doors

Wood Windows: 1

Vehicle Storage

Car(s): 2 Off Street Parking: 1

Construction

Frame: 1

Land Size

More than 1 Lot: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Property Rights

Multi-Use/Commercial: 1 Transient License: 1

Miscellaneous

Fencing: 1 High Traffc Location: 1 High Visibility: 1 Hot Tub: 1 Lobby: 1 Patio: 1 Pool: 1 Spa: 1 Storage: 1 Other Miscellaneous: 1

Roof

Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2021-07-13 Sold Price: $6,950,000 Status: Closed

Property Features

Type: Bar; Hotel/Motel; Restaurant; Retail Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Cooling: Ceiling Fans(s); Central Air; Heat; Heat Pump; Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Interior Features: Cathedral Ceilings; Drapes/Blinds Incl; Entrance Foyer; Furnished; Laundry Room; Pantry; Smoke Alarms; Whirlpool Bath Tub; Window Treatments Appliances: Dishwasher; Dryer; Refrigerator; Washer Miscellaneous: Fencing; High Traffc Location; High Visibility; Hot Tub; Lobby; Patio; Pool; Spa; Storage; Other Miscellaneous Construction: Frame Floor: Carpet; Tile; Wood Roof: Metal Roof Land Size: More than 1 Lot Fee Includes: None Property Rights: Multi-Use/Commercial; Transient License

Documents

Site Plan Rendering ›

Confidentiality Agreement ›

Property Information Sheet ›

Listing Office: Truman & Co. (KW)

Last Updated: September - 09 - 2024

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