124 Duval Street, Key West, FL 33040 (MLS# 599036)

124 Duval Street, Key West, FL 33040

$6,800,000

Situated directly on Duval Street - entrance to the bar, 2nd floor guesthouse unit, Ben & Jerry's ice cream shop and entrance to rear patio restaurant.

Clever motto for the Bar which will make an ideal, popular tee shirt and on other memorabilia.

Walkway entrance from Duval Street to the 40 seat cafe & 5 guesthouse rooms of the Smallest Bar Inn.

Entrance to rear, two story building housing 4 of the 5 total guesthouse rooms. The 5th unit located above the front building accessed off Duval Street.

Rear two story building with four units. 2 up and 2 down.

2nd floor open air, covered patio available to the Inn guests.

Canopy covered open air patio. Ideal for private meetings, Happy Hour gatherings for the guests easily catered by the restaurant below.

Staircase to 2nd floor, large 2 bedroom, 2 bathroom unit - accessed from Duval Street.

Standard single room with half kitchen. Ample kitchen cabinets, counter space, sink & under counter refrigerator,

Current tenant - 40 seat Paradise Restaurant & Bar. Open air patio food service with small interior service bar. Located down the walkway from Duval Street.

Interior restaurant service bar with a few bar stools. Restaurant holds a beer & wine license.

Open air seating in the restaurant located down the walkway at the rear of the property.

Current tenant - Popular Ben & Jerry's walk-in ice cream shop right on Duval Street.

Historic, late 1800's structure. Formerly the Old Custom's House for Key West. One of the few buildings with 8 gabled windows.

Example of the large tin shingled roofs protected by Key West's Historic Architectural Review Commission.

Two of the historically significant (8) gabled windows along the 4 sides of the roof.

Rear 4 unit building with a view of the back side of the Duval Street building housing the restaurant, bar, ice cream store and the 2nd floor, 5th largest guesthouse unit.

Property Type: Commercial Sale Square Footage: 3,489 Lot Size (sq. ft.): 3,534 Status: Closed

Current Price: $6,800,000 List Date: 6/24/2022 Last Modified: 9/09/2024

Overview

Description

Old Town, Circa late 1800's Historically recognized Building, Mixed Commercial Use property. Lower prime 100 block of Duval Street, owner-operated Bar & Guesthouse operation...plus... separate cafe & franchised ice cream store leasehold rental income stream. Operated as the infamous SMALLEST BAR IN KEY WEST & the SMALLEST BAR INN. - - The guesthouse with a 40+ year track record, operates with (5) licensed transient units, one of which is sized as a large two bedroom, two bath unit. - - The long established bar operation with a 22 year track record, does extremely well tucked into an alley way, set back just 20' from the sidewalk creating its charm & fame. A Google search of the SMALLEST BAR IN KEY WEST will best describe its notoriety .....The combination of transient units with the bar operation generates a significant gross income for its overall size. Additionally, both the 40 seat cafe and street side ice cream parlor leaseholds, generate an additional $100,000+, steady a ... (Read more)

Listing Details MLS# 599036

Location, Tax & Legal

Street #: 124
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

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
Species List: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 3534
Waterfront: No
Business Name: Smallest Bar Inn
Year Established: 1989-12-31
# Stories: 2
Total # Buildings: 2
Building SqFt: 3489
SqFt Source: Tax Records
Living Apx SqFt: 3489
Year Built: 1933

Status Change Info

Under Contract Date: 2022-02-01
Leased Date: 2022-06-23
Sold Comments: all cash transaction, no bank financing.

License Info

# of Transient Licns: 5

Association Info

Mandatory Home Owners Asc: No
Voluntary Home Owners Asc: No
1st Right of Refusal: No
Assoc Approval Req: No

More Information

Appliances

Other: under counter refrig

Financial Status

Bank Owned: No
Potential Short Sale: No

Property Features

Deed Restrictions: No License Info: SRX (Non-Transferab); Other/See Remarks Property Info: License Included Type: Apartment 3 or more; Hotel/Motel; Restaurant Waterfront: None Waterview: No Waterview Dockage: None Cooling: Ceiling Fans(s); Heat Pump Utilities: FKAA; Municipal Sewer; Separate Meters Interior Features: Furnished; Smoke Alarms; Wet Bar Construction: Frame Roof: Metal Roof; Shingle Roof Land Size: None Fee Includes: None Terms: No Seller Finance Title: Negotiable Property Rights: Beverage License; Multi-Use/Commercial; Transient License

Documents

Licenses, survey, site & floor plan, etc ›

124 Duval - Brief Property Description ›

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

Last Updated: September - 09 - 2024

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