425 E Ocean Drive, Key Colony, FL 33051
$7,250,000
Property Type:
Commercial
Bedrooms:
3
Baths:
4
Square Footage:
5,546
Lot Size (sq. ft.):
26,100
Status:
Closed
Current Price:
$7,250,000
List Date:
4/26/2022
Last Modified:
9/10/2024
Overview
Description
Listing Details MLS# 599775
Location, Tax & Legal
- Street #
- 425
- Direction
- E
- Street Name
- Ocean
- Street Suffix
- Drive
- Key/Island
- Key Colony
- State/Province
- FL
- Zip Code
- 33051
- Subdivision
- Key Colony Beach (53.5)
- County
- Monroe
- Area
- 17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
- City
- KEY COLONY
- Off Shore Island
- No
- Mile Marker
- 53.5
- Marathon Neighborhood
- Marathon East - Gulf (Airport to Vaca)
- Side
- Ocean
- Flood Zone
- AE,VE,AE,VE,AE
- Alternate Key #
- 1078875
- Parcel #
- 00073970-000000
- Zoning
- RH - Resort Hotel
- Legal
- BK 6 PT LT 12 AND PT LT 13 AND 13A KEY COLONY BEACH PB3-120 SHELTER KEY OR515-802 OR797-369 OR796-1754/55 OR1403-951/52T
- Taxes
- 18781.02
- Tax Year
- 2021
Contract Information
- Listing Board
- Key West Association
- Limited Representation
- No
- For Sale/Lease
- For Sale
- Potential Short Sale
- No
- Bank Owned
- No
General Property Description
- Realtor.COM Type
- Commercial
- Style
- Commercial
- Lot SqFt
- 26100
- Waterfront
- Yes
- Business Name
- Cabana Club
- Year Established
- 1971-12-31
- Off Street Parking
- yes
- # Stories
- 2
- Building SqFt
- 5546
- Living Apx SqFt
- 5546
- Year Built
- 1957
- Total Bedrooms
- 3
- Full Baths
- 4
- Total Baths
- 4
- Control Depth
- 0
- Total Units
- 0
Status Change Info
- Sold Date
- 2022-05-05
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
- This is a money-making, membership-only swim, and beach club with very limited competition in the area. Located in Marathon, the boating and fishing heart of the Florida Keys, the property has 137 feet of private white sandy beach overlooking the Atlantic Ocean. A 65' x 35' zero edge, in-ground, concrete pool is the centerpiece of the property. The pool is temperature-controlled with a waterfall and a separate heated spa. The club features a relaxing waterfront restaurant and full service bar for the club members only. All furniture, fixtures, and equipment is included in the sale of the property. Gross income is over $1.5 million per year and the 2021 adjusted net income with all owner benefits approx. $950,000/ yr. There are two apartments, a gorgeous oceanfront 2bd/2ba second floor owner's apartment with private waterfront deck overlooking the Ocean and a ground floor efficiency apartment.
Type
- Restaurant
- Yes
- Other Services
- Yes
Fee Includes
- Other
- Yes
Dockage
- None
- Yes
Waterfront
- Oceanfront
- Yes
Waterview
- Ocean View
- Yes
Construction
- Concrete
- Yes
Land Size
- 1/2 - Less Than 1 AC
- Yes
Utilities
- FKAA
- Yes
- Municipal Sewer
- Yes
Property Features
Type:
Restaurant; Other Services
Waterfront:
Oceanfront
Waterview:
Ocean View
Dockage:
None
Utilities:
FKAA; Municipal Sewer
Construction:
Concrete
Land Size:
1/2 - Less Than 1 AC
Fee Includes:
Other
Listing Office:
RE/MAX Keys Connection (KW)
Last Updated: September - 10 - 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.