$2,900,000
Key West, FL 33040
MLS# 116627
Status: Closed
1 / 21
Property Description
Established Motel and Hostel has 17 transient licenses, total of 21 bedrooms. Owner may offer financing to qualified buyer. Money making operation. 10% cap rate with net of $332,100 in 2011. Current owner has plans for 17 rooms, a three-story replacement building which was submitted to the City of Key West. Currently operated as 14 private hotel rooms (one handicap) and three hostel rooms. Corner property with several parking spaces. There is a bike rental license included. Gross over $600,000/yr. Extra storage & housekeeping rooms. Large lot & room for pool.
Details
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: $2,900,000
Listing Date: 2012-06-18
Sold Price: $2,900,000
Location, Tax & Legal
KW Neighborhood: Old Town-S of Truman
City: KEY WEST
Mile Marker: 1
Side: Median
Flood Zone: AE
Alternate Key #: 1037681
Parcel #: 00036870000000-00037880000100
Bldg Nbr: 0
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Legal: Alt.#s 1037681 and 8785682 as per Monroe County Tax Records
Taxes: 26884
Tax Year: 2011
Street #: 716
Street Name: South
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: White & Pierce Diagram (1.0)
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Lot Size: 132 ' X 104'
Lot SqFt: 13743
Business Name: Sea Shell Motel
Total Units: 17
# Parking Spaces: 0
# Stories: 2
Building Ht. Ft.: 20
Total # Buildings: 4
Building SqFt: 7826
Style: Commercial
Year Built: 1948
Remarks & Misc
Remarks – Consumer: Established Motel and Hostel has 17 transient licenses, total of 21 bedrooms. Owner may offer financing to qualified buyer. Money making operation. 10% cap rate with net of $332,100 in 2011. Current owner has plans for 17 rooms, a three-story replacement building which was submitted to the City of Key West. Currently operated as 14 private hotel rooms (one handicap) and three hostel rooms. Corner property with several parking spaces. There is a bike rental license included. Gross over $600,000/yr. Extra storage & housekeeping rooms. Large lot & room for pool.
Deed Restrictions
Unknown: 1
Association Info
Mandatory Home Owners Asc: No
Association Fee $: 0
License Info
# of City License: 4
# of Transient Licns: 2
Non Trans Rntl Lic: 1
Type
Hotel/Motel: 1
Dockage
None: 1
Property Info
Gross Annual Expense: 0
NOI: 0
Cooling
Wall/Window Unit(s): 1
Electric
Circuit Breakers: 1
Construction
CBS: 1
Stucco: 1
Land Size
1/4 - 1/2 Acre: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Title
Negotiable: 1
Property Rights
Transient License: 1
Miscellaneous
Fencing: 1
Manager on Premises: 1
Residence on Premise: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Sold Date: 2013-10-31
Sold Price: $2,900,000
Status: Closed
Property Features
Deed Restrictions: Unknown
License Info: Non Trans Rntl Lic
Type: Hotel/Motel
Dockage: None
Cooling: Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Miscellaneous: Fencing; Manager on Premises; Residence on Premise
Construction: CBS; Stucco
Electric: Circuit Breakers
Land Size: 1/4 - 1/2 Acre
Title: Negotiable
Property Rights: Transient License
Listing Office: At Home in Key West, Inc.
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.