$6,950,000
Key West, FL 33040
MLS# 586161
Status: Closed
11 beds | 11.2 baths
1 / 34
Property Description
Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St and equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy. With an excellent ROI plus occupancy upside, the 11 exquisitely appointed guest rooms are each unique and are situated in 4 historic homes on nearly 1/4 acre of land in the heart of Key West's Commercial District. Lush tropical gardens, pools and spa create an enchanting paradise for guests who frequently visit the inn. With 20 years of success, the Tropical Inn has a large percentage of repeat guests. Tropical Inn consistently outperforms the average daily rate for Key West B&B's and 2019 revenue is up over 13% from 2018. The property consists of 4 parcels with 11 transient licenses and a commercial retail space on Duval St.
Details
Maps
Documents
Contract Information
Current Price: $6,950,000
Listing Date: 2019-06-18
Listing Board: Key West Association
Leased Price Monthly: $6,950,000
Limited Representation: No
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Location, Tax & Legal
Street #: 810-812
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
Style: Commercial
Lot Size: Add'l Parcel #3 00016980-000000
Lot SqFt: 10703
Waterfront: No
Business Name: Tropical Inn
Year Established: 1999-10-28
# Parking Spaces: 2
Off Street Parking: Yes
# Stories: 1
Total # Buildings: 4
Building SqFt: 4429
SqFt Source: Property Data Card
Total Units: 12
Year Built: 1890
Total Bedrooms: 11
Full Baths: 11
Half Baths: 2
Total Baths: 11.2
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
License Info
# of Transient Licns: 11
Property Info
# Kitchens: 2
# Refrigerators: 13
# Washers: 2
# Dryers: 3
# Dishwashers: 1
Vehicle Storage
Car(s): 2
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2021-02-27
Leased Date: 2021-07-13
Leased Price Monthly: $6,950,000
Status: Closed
Property Features
Type: Bar; Hotel/Motel; Restaurant; Retail
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Off Street Parking
Cooling: Ceiling Fans(s); Central Air; Heat; Heat Pump; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Cathedral Ceilings; Drapes/Blinds Incl; Entrance Foyer; Furnished; Laundry Room; Pantry; Smoke Alarms; Whirlpool Bath Tub; Window Treatments
Appliances: Dishwasher; Dryer; Refrigerator; Washer
Miscellaneous: Fencing; High Traffc Location; High Visibility; Hot Tub; Lobby; Patio; Pool; Spa; Storage; Other Miscellaneous
Construction: Frame
Floor: Carpet; Tile; Wood
Roof: Metal Roof
Land Size: More than 1 Lot
Fee Includes: None
Property Rights: Multi-Use/Commercial; Transient License
Supplements
currently leased by Vino's wine bar where guests enjoy a daily Happy Hour. Guests are also served continental breakfast and fresh fruit daily. Beautifully maintained structures and grounds along with a long consistent history of excellent financials make Tropical Inn a rock solid investment ready for a new owner to take the reigns and increase its enduring prosperity.
Site Plan Rendering 
Listing Office: Truman & Co. (KW)
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.