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$6,800,000
124 Duval Street
Key West, FL 33040
MLS# 599036
Status: Closed
3489 sqft
Situated directly on Duval Street - entrance to the bar, 2nd floor guesthouse unit, Ben & Jerry's ice cream shop and entrance to rear patio restaurant.
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Situated directly on Duval Street - entrance to the bar, 2nd floor guesthouse unit, Ben & Jerry's ice cream shop and entrance to rear patio restaurant. KW21125dJPG 108773 Clever motto for the Bar which will make an ideal, popular tee shirt and on other memorabilia. Walkway entrance from Duval Street to the 40 seat cafe & 5 guesthouse rooms of the Smallest Bar Inn. 1219211057a_HDR KW21125g (1) Entrance to rear, two story building housing 4 of the 5 total guesthouse rooms. The 5th unit located above the front building accessed off Duval Street. Rear two story building with four units. 2 up and 2 down. 1120211104a_HDR (1) 1120211106b_HDR (1) 1120211107a_HDR (1) 2nd floor open air, covered patio available to the Inn guests. Canopy covered open air patio. Ideal for private meetings, Happy Hour gatherings for the guests easily catered by the restaurant below. 1117211914a_HDR 1027211236_HDR (1) Staircase to 2nd floor, large 2 bedroom, 2 bathroom unit - accessed from Duval Street. 1027211234a_HDR (1) Standard single room with half kitchen. Ample kitchen cabinets, counter space, sink & under counter refrigerator, Current tenant - 40 seat Paradise Restaurant & Bar. Open air patio food service with small interior service bar. Located down the walkway from Duval Street. Interior restaurant service bar with a few bar stools. Restaurant holds a beer & wine license. 1120211113_HDR_2 Open air seating in the restaurant located down the walkway at the rear of the property. 1120211105b_HDR Current tenant - Popular Ben & Jerry's walk-in ice cream shop right on Duval Street. 1120211134_HDR 1120211134a_HDR Historic, late 1800's structure. Formerly the Old Custom's House for Key West. One of the few buildings with 8 gabled windows. Example of the large tin shingled roofs protected by Key West's Historic Architectural Review Commission. Two of the historically significant (8) gabled windows along the 4 sides of the roof. Rear 4 unit building with a view of the back side of the Duval Street building housing the restaurant, bar, ice cream store and the 2nd floor, 5th largest guesthouse unit.

Property Description
Old Town, Circa late 1800's Historically recognized Building, Mixed Commercial Use property. Lower prime 100 block of Duval Street, owner-operated Bar & Guesthouse operation...plus... separate cafe & franchised ice cream store leasehold rental income stream. Operated as the infamous SMALLEST BAR IN KEY WEST & the SMALLEST BAR INN. - - The guesthouse with a 40+ year track record, operates with (5) licensed transient units, one of which is sized as a large two bedroom, two bath unit. - - The long established bar operation with a 22 year track record, does extremely well tucked into an alley way, set back just 20' from the sidewalk creating its charm & fame. A Google search of the SMALLEST BAR IN KEY WEST will best describe its notoriety .....The combination of transient units with the bar operation generates a significant gross income for its overall size. Additionally, both the 40 seat cafe and street side ice cream parlor leaseholds, generate an additional $100,000+, steady annual income. - - Located on Lower Duval Street, half a block down from Sloppy Joe's & Captain Tony's Saloon; dead center within the high pedestrian traffic flow of the famed Key West Entertainment District. Short walk for arriving cruise ship passengers & the late afternoon Mallory Square Sunset revelers. - - The bar serves full alcohol & package under a valuable 5-Cop (S) Liquor License available only to the limited number of Inns operating within an Historic Structure. Bar income tied to a % of room sales. License is renewable annually with the State for a reasonable fee & and must remain with the property upon a sale. - - The small size of the overall operation requires very few employees.- - - Perfect mixed use property for an Owner/ Operator desiring an established bar & guesthouse business, with two additional commercial lease revenues.

Details
Maps
Documents
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
Species List: No
Current Price: $6,800,000
Listing Date: 2022-01-04
Sold Price: $6,800,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Off Shore Island: No
Mile Marker: 1
Marathon Neighborhood: N/A
Side: N/A
Flood Zone: AE
Alternate Key #: 1000566
Parcel #: 00000570-000000
Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl
Legal: KW PT LOT 2 SQR 8 G13-252 OR546-980 OR871-1405/06 OR871-1407/08 OR871-1409 OR1190-2420/21 OR2584-392/94 OR2587-2046/47C
Taxes: 19213.8
Tax Year: 2021
Street #: 124
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: 36' x 100'
Lot SqFt: 3534
Business Name: Smallest Bar Inn
Total Units: 0
Year Established: 1989-12-31
# Parking Spaces: 0
Off Street Parking: 0
# Stories: 2
SqFt Source: Tax Records
Total # Buildings: 2
Building SqFt: 3489
Style: Commercial
Living Apx SqFt: 3489
Year Built: 1933
Remarks & Misc
Remarks – Consumer: Old Town, Circa late 1800's Historically recognized Building, Mixed Commercial Use property. Lower prime 100 block of Duval Street, owner-operated Bar & Guesthouse operation...plus... separate cafe & franchised ice cream store leasehold rental income stream. Operated as the infamous SMALLEST BAR IN KEY WEST & the SMALLEST BAR INN. - - The guesthouse with a 40+ year track record, operates with (5) licensed transient units, one of which is sized as a large two bedroom, two bath unit. - - The long established bar operation with a 22 year track record, does extremely well tucked into an alley way, set back just 20' from the sidewalk creating its charm & fame. A Google search of the SMALLEST BAR IN KEY WEST will best describe its notoriety .....The combination of transient units with the bar operation generates a significant gross income for its overall size. Additionally, both the 40 seat cafe and street side ice cream parlor leaseholds, generate an additional $100,000+, steady annual income. - - Located on Lower Duval Street, half a block down from Sloppy Joe's & Captain Tony's Saloon; dead center within the high pedestrian traffic flow of the famed Key West Entertainment District. Short walk for arriving cruise ship passengers & the late afternoon Mallory Square Sunset revelers. - - The bar serves full alcohol & package under a valuable 5-Cop (S) Liquor License available only to the limited number of Inns operating within an Historic Structure. Bar income tied to a % of room sales. License is renewable annually with the State for a reasonable fee & and must remain with the property upon a sale. - - The small size of the overall operation requires very few employees.- - - Perfect mixed use property for an Owner/ Operator desiring an established bar & guesthouse business, with two additional commercial lease revenues.
Status Change Info
Sold Comments: all cash transaction, no bank financing.
Sold Date: 2022-06-23
Sold Price: $6,800,000
Status: Closed
Deed Restrictions
No: 1
Association Info
Mandatory Home Owners Asc: No
Voluntary Home Owners Asc: No
1st Right of Refusal: No
Assoc Approval Req: No
License Info
# of Transient Licns: 5
SRX (Non-Transferab): 1
Other/See Remarks: 1
Type
Apartment 3 or more: 1
Hotel/Motel: 1
Restaurant: 1
Fee Includes
None: 1
Dockage
None: 1
Accounts & Meters
# Water Meters: 2
# Electric Meters: 8
Appliances
Other: under counter refrig
Property Info
License Included: 1
Cooling
Ceiling Fans(s): 1
Heat Pump: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Interior Features
Furnished: 1
Smoke Alarms: 1
Wet Bar: 1
Construction
Frame: 1
Land Size
None: 1
Terms
No Seller Finance: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Separate Meters: 1
Title
Negotiable: 1
Property Rights
Beverage License: 1
Multi-Use/Commercial: 1
Transient License: 1
Roof
Metal Roof: 1
Shingle Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Deed Restrictions: No
License Info: SRX (Non-Transferab); Other/See Remarks
Property Info: License Included
Type: Apartment 3 or more; Hotel/Motel; Restaurant
Waterfront: None
Waterview: No Waterview
Dockage: None
Cooling: Ceiling Fans(s); Heat Pump
Utilities: FKAA; Municipal Sewer; Separate Meters
Interior Features: Furnished; Smoke Alarms; Wet Bar
Construction: Frame
Roof: Metal Roof; Shingle Roof
Land Size: None
Fee Includes: None
Terms: No Seller Finance
Title: Negotiable
Property Rights: Beverage License; Multi-Use/Commercial; Transient License
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.

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