409 Appelrouth Lane, Key West, FL 33040 (MLS# 116484)

409 Appelrouth Lane, Key West, FL 33040

$5,200,000

Property Type: Commercial Sale Lot Size (sq. ft.): 20,000 Status: Closed

Current Price: $5,200,000 List Date: 5/07/2012 Last Modified: 9/09/2024

Overview

Description

11% Cap Rate! One of the most beautiful multi-use guesthouse compounds in Key West, includes 4 parcels, 17 trans lic plus 2 non-trans units, a licensed restaurant, and available 5 COP-S full liquor license for $1560/yr. Just off Duval on quaint Appelrouth Ln., the lush, tropically landscaped complex contains 6 buildings, heated pool, large hot tub, gym, and 8 off-street parking spaces. Upside potential is enormous by implementing the many sources of revenue options available: an upscale SPA, office, restaurant/bar, retail, guesthouse. A truly unique historic property investment in the very heart of the Old Town Key West commercial district.

Listing Details MLS# 116484

Location, Tax & Legal

Street #: 409
Street Name: Appelrouth
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unrecord (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: 20000
Waterfront: No
Business Name: Big Rubys Guesthouse
# Parking Spaces: 8
# Stories: 3
Total # Buildings: 8
Building SqFt: 12101
Year Built: 1977

Status Change Info

Under Contract Date: 2013-06-28
Leased Date: 2013-07-19

License Info

# of City License: 2
# of County License: 2
# of Transient Licns: 3

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: 2-Cop (Beer & Wine); 5-Cop (Transferable); Non Trans Rntl Lic Type: Hotel/Motel; Office Buildings; Restaurant; Retail; Other Services Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Generator; Municipal Sewer; Propane; Separate Meters Miscellaneous: Fencing; High Visibility; Hot Tub; Lobby; Patio; Pool; Residence on Premise; Spa; Storage; Utility Building Construction: CBS; Combo Construction; Frame Floor: Carpet; Tile; Wood Roof: Combo Roof; Metal Roof Land Size: 1/4 - 1/2 Acre Terms: Assumable-Qualify; Owner Consider 2nd; Seller Finance Psble; Other Financing Property Rights: Beverage License; Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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