1116 Grinnell Street, Key West, FL 33040 (MLS# 118719)

1116 Grinnell Street, Key West, FL 33040

$3,200,000

Property Type: Commercial Sale Lot Size (sq. ft.): 4,675 Status: Closed

Current Price: $3,200,000 List Date: 10/14/2013 Last Modified: 9/09/2024

Overview

Description

The Grand Guesthouse is a rock-solid investment with outstanding financials and consistent year-over-year growth. Where in the current marketplace can one find proven and consistent returns in excess of a 7.5% cap rate? This is the best lodging property investment currently available; includes 2 buildings with 10 transient rental units + a 2-bedroom unit as on-site manager's residence. Front building is an 1885 historic bungalow; circa 1952 rear building houses 4 1-bedroom suites. Charming and well-maintained, the Grand Guesthouse attracts new and return visitors whilst maintaining excellent occupancy and ADR. Green Lodging Property, recipient of the Superior Small Lodging's White Glove award & Cert. of Exc. from Trip Adviser.

Listing Details MLS# 118719

Location, Tax & Legal

Street #: 1116
Street Name: Grinnell
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: GG Watson Sub (1.0)
County: Monroe
Area: 01 - Key West

Contract Information

Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 4675
Waterfront: No
Business Name: The Grand Guesthouse
Year Established: 1999-01-01
# Parking Spaces: 6
# Stories: 2
Total # Buildings: 2
Building SqFt: 3384
Total Units: 11
Year Built: 1885

Status Change Info

Under Contract Date: 2014-09-22
Leased Date: 2014-09-26

License Info

# of Transient Licns: 3

Association Info

Mandatory Home Owners Asc: No

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

Property Features

Deed Restrictions: Unknown Type: Hotel/Motel; Other Services Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Interior Features: Laundry Room Miscellaneous: Fencing; Manager on Premises; Patio; Residence on Premise; Storage Construction: Frame Electric: Circuit Breakers Floor: Combo Roof: Metal Roof Land Size: Less Than 1/4 Acre Terms: Owner Consider 2nd Property Rights: Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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