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
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 place; a turn-key Benihana International franchise owned by the owner of the real estate and a leasehold on an upscale Key West Italian restaurant brand La Trattoria. The property is located directly on A1A. This is a major oceanfront highway in Key West leading to the islands public beaches and resorts.
More Information MLS# 572027
Contract Information
Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
For Sale/Lease: For Sale
Current Price: $5,500,000
Listing Date: 2016-09-20
Sold Price: $5,500,000
Location, Tax & Legal
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
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
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 1.32
Lot SqFt: 57499
Total Units: 0
# Parking Spaces: 75
Off Street Parking: yes
Building SqFt: 21582
Style: Commercial
Living Apx SqFt: 21582
Year Built: 1963
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: 1
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Franchise: 1
Office Buildings: 1
Professional Service: 1
Restaurant: 1
Retail: 1
Wholesale Mfg/Wrhse: 1
Fee Includes
None: 1
Dockage
None: 1
Waterfront
None: 1
Waterview
Ocean View: 1
Open Water View: 1
Vehicle Storage
Off Street Parking: 1
Construction
CBS: 1
Combo Construction: 1
Land Size
1 Less Than 2 Acres: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Sold Date: 2018-09-21
Sold Price: $5,500,000
Status: Closed
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.