$7,250,000
Key Colony, FL 33051
MLS# 599775
Status: Closed
3 beds | 4 baths | 5546 sqft
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Property Description
This is a money-making, membership-only swim, and beach club with very limited competition in the area. Located in Marathon, the boating and fishing heart of the Florida Keys, the property has 137 feet of private white sandy beach overlooking the Atlantic Ocean. A 65' x 35' zero edge, in-ground, concrete pool is the centerpiece of the property. The pool is temperature-controlled with a waterfall and a separate heated spa. The club features a relaxing waterfront restaurant and full service bar for the club members only. All furniture, fixtures, and equipment is included in the sale of the property. Gross income is over $1.5 million per year and the 2021 adjusted net income with all owner benefits approx. $950,000/ yr. There are two apartments, a gorgeous oceanfront 2bd/2ba second floor owner's apartment with private waterfront deck overlooking the Ocean and a ground floor efficiency apartment.
Details
Maps
Contract Information
Current Price: $7,250,000
Listing Date: 2022-02-21
Listing Board: Key West Association
Leased Price Monthly: $7,250,000
Limited Representation: No
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Location, Tax & Legal
Street #: 425
Direction: E
Street Name: Ocean
Street Suffix: Drive
Key/Island: Key Colony
State/Province: FL
Zip Code: 33051
Subdivision: Key Colony Beach (53.5)
County: Monroe
Area: 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 26100
Lot SqFt: 26100
Waterfront: Yes
Business Name: Cabana Club
Year Established: 1971-12-31
Off Street Parking: yes
# Stories: 2
Building SqFt: 5546
Living Apx SqFt: 5546
Year Built: 1957
Total Bedrooms: 3
Full Baths: 4
Total Baths: 4
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2022-04-27
Leased Date: 2022-05-05
Leased Price Monthly: $7,250,000
Status: Closed
Property Features
Type: Restaurant; Other Services
Waterfront: Oceanfront
Waterview: Ocean View
Dockage: None
Utilities: FKAA; Municipal Sewer
Construction: Concrete
Land Size: 1/2 - Less Than 1 AC
Fee Includes: Other
Listing Office: RE/MAX Keys Connection (KW)
Last Updated: August - 31 - 2026
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.