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3591 S Roosevelt Boulevard, Key West, FL 33040

$5,500,000
Property Type: Commercial Square Footage: 21,582 Lot Size (sq. ft.): 57,499 Status: Closed
Current Price: $5,500,000 List Date: 9/20/2016 Last Modified: 9/09/2024

Overview

Description

Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. Tenant on property will deliver a cap rate of over 7.5%.

Supplements: The two restaurants and large rear underutilized warehouse deliver 21,582 SF of space. With parking for over 75 cars in the rear and 24 leased spaces, there is further mixed use development opportunity on the property as well. Price is for land and real estate only. This property is being sold as a restaurant leasehold opportunity with leases in pl ...

Listing Details MLS# 572027

Location, Tax & Legal

Street #
3591
Direction
S
Street Name
Roosevelt
Street Suffix
Boulevard
Key/Island
Key West
State/Province
FL
Zip Code
33040
Subdivision
Key West Fwdn Sub (4.0)
County
Monroe
Area
04 - Key West
KW Neighborhood
New Town
City
KEY WEST
Off Shore Island
No
Mile Marker
4
Side
Ocean
Flood Zone
VE
Alternate Key #
1054968
Parcel #
00054350-000000
Zoning
PS - Public & Semi Public Services
Legal
KW KW FWDN SUB PB 1-205 LOTS 1, 2 & PT LOT 3 OCEAN BLVD PLAT1 & PARCEL LYING NW'LY THEREOF OR183-552/555 OR652-375/377 O
Taxes
25501.05
Tax Year
2015

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
57499
Waterfront
No
# Parking Spaces
75
Off Street Parking
yes
Building SqFt
21582
Living Apx SqFt
21582
Year Built
1963
Control Depth
0
Total Units
0

Status Change Info

Sold Date
2018-09-21

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

Financial Status

Bank Owned
No
Potential Short Sale
No

More Information

Remarks & Misc

Remarks – Consumer
Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. Tenant on property will deliver a cap rate of over 7.5%.
Directions
On South Roosevelt Blvd, next to the Key West International Airport.

Deed Restrictions

Unknown
Yes

Type

Franchise
Yes
Office Buildings
Yes
Professional Service
Yes
Restaurant
Yes
Retail
Yes
Wholesale Mfg/Wrhse
Yes

Fee Includes

None
Yes

Dockage

None
Yes

Waterfront

None
Yes

Waterview

Ocean View
Yes
Open Water View
Yes

Vehicle Storage

Off Street Parking
Yes

Construction

CBS
Yes
Combo Construction
Yes

Land Size

1 Less Than 2 Acres
Yes

Utilities

FKAA
Yes
Municipal Sewer
Yes

Property Features

Deed Restrictions: Unknown Type: Franchise; Franchise; Office Buildings; Professional Service; Restaurant; Retail; Wholesale Mfg/Wrhse Waterfront: None Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Off Street Parking Utilities: FKAA; Municipal Sewer Construction: CBS; Combo Construction Land Size: 1 Less Than 2 Acres Fee Includes: None
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
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.