716 South Street, Key West, FL 33040 (MLS# 116627)

716 South Street, Key West, FL 33040

$2,900,000

Virtual Tour

http://www.visualtour.com/shownp.asp?sk=13&t=2821388

Property Type: Commercial Sale Lot Size (sq. ft.): 13,743 Status: Closed

Current Price: $2,900,000 List Date: 6/18/2012 Last Modified: 9/09/2024

Overview

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.

Listing Details MLS# 116627

Location, Tax & Legal

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

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: 13743
Waterfront: No
Business Name: Sea Shell Motel
# Stories: 2
Building Ht. Ft.: 20
Total # Buildings: 4
Building SqFt: 7826
Total Units: 17
Year Built: 1948

Status Change Info

Under Contract Date: 2013-09-30
Leased Date: 2013-10-31

License Info

# of City License: 4
# of Transient Licns: 2

Association Info

Mandatory Home Owners Asc: No

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

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.