822 Fleming Street, Key West, FL 33040 (MLS# 116023)

822 Fleming Street, Key West, FL 33040

$2,100,000

Property Type: Commercial Lot Size (sq. ft.): 3,936 Status: Closed

Current Price: $2,100,000 List Date: 2/02/2012 Last Modified: 9/09/2024

Description

Built in 1889 as an opulent single family home with wide verandah porches both street and poolside, this beautiful 11-unit guesthouse has all 11 licenses approved by the City (and paid for) pending the completion of one ADA compliant room, currently under const. Converted to a guesthouse in 1991, and completely renovated in 1996, with a beautiful private pool and spa area framed with a shaded arbor featuring classic tile mosaics and a large breakfast room, the Coral Tree Inn can stand alone. The property can also be purchased with 815-823 Fleming St., the Oasis and Coconut Grove, which would be a total of 47 rooms/suites for $9,950,000. Assumable loan to qualified buyers. Huge upside: increase average occ rt from 41% to avg KW 82%.

More Information MLS# 116023

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: $2,100,000 Listing Date: 2012-02-02 Sold Price: $2,100,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 0.5 Side: Bay/Gulf Flood Zone: no Alternate Key #: 1008559 Bldg Nbr: 0 Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med Legal: KW PT LOT 2 SQR 47 G45-407-408 OR966-574 OR1010-1274 OR1079-796/797 OR1124-629 OR1178-2104/2105C/T O Taxes: 14575.74 Tax Year: 2011 Street #: 822 Street Name: Fleming Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Old Town - Unlisted (1.0) Area: 01 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Lot Size: 48'x82' Lot SqFt: 3936 Business Name: Coral Tree Inn Total Units: 11 Year Established: 1991-01-01 # Parking Spaces: 0 # Stories: 0 Building Ht. Ft.: 0 Total # Buildings: 0 Building SqFt: 5508 Style: Commercial Year Built: 1913

Remarks & Misc

Remarks – Consumer: Built in 1889 as an opulent single family home with wide verandah porches both street and poolside, this beautiful 11-unit guesthouse has all 11 licenses approved by the City (and paid for) pending the completion of one ADA compliant room, currently under const. Converted to a guesthouse in 1991, and completely renovated in 1996, with a beautiful private pool and spa area framed with a shaded arbor featuring classic tile mosaics and a large breakfast room, the Coral Tree Inn can stand alone. The property can also be purchased with 815-823 Fleming St., the Oasis and Coconut Grove, which would be a total of 47 rooms/suites for $9,950,000. Assumable loan to qualified buyers. Huge upside: increase average occ rt from 41% to avg KW 82%. Directions: Mid-block of the 800 block of Fleming St., between William and Margaret Streets, in Old Town Key West

Deed Restrictions

Unknown: 1

Association Info

Mandatory Home Owners Asc: No Association Fee $: 0

License Info

2-Cop (Beer & Wine): 1

Type

Hotel/Motel: 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

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Terms

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

Utilities

FKAA: 1 Municipal Sewer: 1

Property Rights

Beverage License: 1 Transient License: 1

Miscellaneous

Fencing: 1 High Visibility: 1 Hot Tub: 1 Lobby: 1 Manager on Premises: 1 Patio: 1 Pool: 1 Sprinkler System: 1 Utility Building: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2012-12-28 Sold Price: $2,100,000 Status: Closed

Property Features

Deed Restrictions: Unknown License Info: 2-Cop (Beer & Wine) Type: Hotel/Motel; Other Services Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Miscellaneous: Fencing; High Visibility; Hot Tub; Lobby; Manager on Premises; Patio; Pool; Sprinkler System; Utility Building Construction: Frame Land Size: Less Than 1/4 Acre Terms: Assumable-Qualify; Owner Consider 2nd; Seller Finance Psble Property Rights: Beverage License; Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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