824-826 Duval Street, Key West, FL 33040

$5,800,000
Property Type: Commercial Bedrooms: 6 Baths: 8 Lot Size (sq. ft.): 9,500 Status: Closed
Current Price: $5,800,000 List Date: 1/03/2020 Last Modified: 9/09/2024

Description

Strong Investment Opportunity in place with a proven track record, rare opportunity to tap into the existing & growing tourism district of Key West Florida. Premium Old Town location on the famous Duval Street, this mixed-use building has 8 units: 6 one bedroom transiently licensed guest rooms & 2 commercial store front spaces. Off street parking lot with a min of 8 spaces from rear lane leads pass the in-ground pool to main electronic entrance of the 6 upstairs residential units. Remotely managed low maintenance vacation rentals allow auto check in for guests. Exceptional net operating income for a 5200sf CBS building located in the X flood zone, property has been converted to condominium units but all are under common ownership.

More Information MLS# 587053

Contract Information

Listing Board: Key West Association Limited Representation: No Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Current Price: $5,800,000 Listing Date: 2019-08-20 Sold Price: $5,800,000

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 #: 9085082 Add'l Parcel #1: 00017141-000826 Parcel #: 00017141-000000 Add'l Parcel #2: 00017141-000824 Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl Legal: MAISON SUR DUVAL CONDOMINIUM (F/K/A RE 00017140-000000 AK 1017574) OR2160-2191/2272DEC OR2397-879/882AMD Taxes: 0 Tax Year: 0 Street #: 824-826 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: 9500 Lot SqFt: 9500 Total Units: 8 # Parking Spaces: 8 Off Street Parking: yes # Stories: 2 SqFt Source: Property Data Card Total # Buildings: 1 Building SqFt: 5200 Style: Commercial Year Built: 1933 Total Bedrooms: 6 Full Baths: 6 Half Baths: 2 Total Baths: 8

Remarks & Misc

Remarks – Consumer: Strong Investment Opportunity in place with a proven track record, rare opportunity to tap into the existing & growing tourism district of Key West Florida. Premium Old Town location on the famous Duval Street, this mixed-use building has 8 units: 6 one bedroom transiently licensed guest rooms & 2 commercial store front spaces. Off street parking lot with a min of 8 spaces from rear lane leads pass the in-ground pool to main electronic entrance of the 6 upstairs residential units. Remotely managed low maintenance vacation rentals allow auto check in for guests. Exceptional net operating income for a 5200sf CBS building located in the X flood zone, property has been converted to condominium units but all are under common ownership.

Association Info

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

License Info

# of Transient Licns: 6 Other/See Remarks: 1

Type

Hotel/Motel: 1 Office Buildings: 1 Other Comrcl Style: 1 Professional Service: 1 Restaurant: 1 Retail: 1

Fee Includes

Other: 1

Dockage

None: 1

Cooling

Central Air: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Interior Features

Laundry Room: 1

Vehicle Storage

Off Street Parking: 1

Construction

CBS: 1

Land Size

Less Than 1/4 Acre: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Miscellaneous

High Traffc Location: 1 High Visibility: 1 Pool: 1 Other Miscellaneous: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2022-02-18 Sold Price: $5,800,000 Status: Closed

Property Features

License Info: Other/See Remarks Type: Hotel/Motel; Office Buildings; Other Comrcl Style; Professional Service; Restaurant; Retail Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Cooling: Central Air Utilities: FKAA; Municipal Sewer Interior Features: Laundry Room Miscellaneous: High Traffc Location; High Visibility; Pool; Other Miscellaneous Construction: CBS Land Size: Less Than 1/4 Acre Fee Includes: Other
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: September - 09 - 2024
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.