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2264 Overseas Highway, Marathon, FL 33050

$8,650,000
Property Type: Commercial Bedrooms: 32 Baths: 24 Lot Size (sq. ft.): 60,306 Status: Closed
Current Price: $8,650,000 List Date: 1/01/2022 Last Modified: 12/03/2024

Overview

Description

Built in 2018, turnkey waterfront development comprised of eight single family houses currently licensed as weekly vacation rentals, each with four bedrooms and three full bathrooms, built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, kayak launch, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of local dining options, two popular beaches, two major marinas and Marathon Airport. This property is only one hour from the Key West airport and 2.5 hours from the Miami airport. Monthly rental rates currently average $12,400/mo for each unit 1-5 and $16,500/mo for each unit 6-8.

Listing Details MLS# 598993

Location, Tax & Legal

Street #
2264
Street Name
Overseas
Street Suffix
Highway
Key/Island
Marathon
State/Province
FL
Zip Code
33050
Subdivision
Misc Marathon West (49.0)
County
Monroe
Area
13 - 7 Mile Bridge to Sombrero Bch Rd E & W
City
MARATHON
Off Shore Island
No
Mile Marker
49
Marathon Neighborhood
Old Town West (11th to 25th)
Side
Bay/Gulf
Flood Zone
AE,AE,VE
Alternate Key #
1119491
Parcel #
00102290-000000
Zoning
MU - Mixed Use Commercial Mixed Use
Legal
9 66 32 KEY VACCAS PT LOT 1 AND ADJ PT R-O-W OR71-43 OR73-462 OR499-151/52 OR499-154/55 OR570-338E OR775-977 OR944-192QC
Taxes
35751.58
Tax Year
2021

Contract Information

Listing Board
Marathon/Lower Keys
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
60306
Waterfront
Yes
Control Depth
5
Total # Buildings
9
Building SqFt
2304
SqFt Source
Tax Records
Year Built
1953
Total Bedrooms
32
Full Baths
24
Total Baths
24
Total Units
0

Status Change Info

Sold Date
2022-03-04

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

Property Info

# Kitchens
8
# Refrigerators
8
# Range/Ovens
8
# Washers
8
# Dryers
8
# Dishwashers
8
4 Bed/Bath
8

More Information

Dockage

Dock
Wood
Dock Privileges
Yes

Financial Status

Bank Owned
No
Potential Short Sale
No

Remarks & Misc

Remarks – Consumer
Built in 2018, turnkey waterfront development comprised of eight single family houses currently licensed as weekly vacation rentals, each with four bedrooms and three full bathrooms, built to current windstorm standards. Each home is designed for guests to enjoy their own private pool, laundry, outdoor grill area, covered parking and balconies. Excellent rental history and future bookings with tremendous growth opportunity. This vacation rental compound was built to maximize income and minimize overhead. Guests can enjoy the community beach, kayak launch, docks, tiki hut, fish cleaning station, plus nearby amenities including tons of local dining options, two popular beaches, two major marinas and Marathon Airport. This property is only one hour from the Key West airport and 2.5 hours from the Miami airport. Monthly rental rates currently average $12,400/mo for each unit 1-5 and $16,500/mo for each unit 6-8.
Directions
US-1 South, property is on right hand side just after Marriott in Marathon

Deed Restrictions

No
Yes

Type

Hotel/Motel
Yes
Other Comrcl Style
Yes

Fee Includes

None
Yes

Appliances

Dishwasher
Yes
Disposal
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Cooling

Ceiling Fans(s)
Yes
Heat Pump
Yes

Waterfront

Bay Front
Yes
Gulf Front
Yes
Open Water
Yes

Waterview

Bay/Gulf View
Yes
Open Water View
Yes

Floor

Tile
Yes

Interior Features

Drapes/Blinds Incl
Yes
Furnished
Yes
Laundry Room
Yes
Smoke Alarms
Yes
Window Treatments
Yes

Windows/Doors

Impact Rstnce Doors
Yes
Impact Rstnce Window
Yes

Vehicle Storage

Carport
Yes
Covered Parking
Yes

Construction

Combo Construction
Yes
Concrete
Yes
Other
Yes

Land Size

2 Less Than 5 Acres
Yes

Utilities

Buyer to Verify
Yes

Miscellaneous

Chickee Hut
Yes
Fencing
Yes
High Visibility
Yes
Highway Frontage
Yes
Open Water View
Yes
Pool
Yes
Storage
Yes
Utility Building
Yes

Roof

Metal Roof
Yes

Tenant Paid

Tnt Pays No Utils
Yes

Property Features

Deed Restrictions: No Type: Hotel/Motel; Other Comrcl Style Waterfront: Bay Front; Gulf Front; Open Water Waterview: Bay/Gulf View; Open Water View Dockage: Dock Privileges Vehicle Storage: Carport; Covered Parking Cooling: Ceiling Fans(s); Heat Pump Utilities: Buyer to Verify Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Smoke Alarms; Window Treatments Appliances: Dishwasher; Disposal; Dryer; Range; Refrigerator; Washer Miscellaneous: Chickee Hut; Fencing; High Visibility; Highway Frontage; Open Water View; Pool; Storage; Utility Building Construction: Combo Construction; Concrete; Other Floor: Tile Roof: Metal Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Tenant Paid: Tnt Pays No Utils

Documents

Listing Office: Engel & Völkers Marathon
Last Updated: December - 03 - 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.
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