511 Eaton Street, Key West, FL 33040 (MLS# 121637)

511 Eaton Street, Key West, FL 33040

$9,000,000

Property Type: Commercial Sale Lot Size (sq. ft.): 17,108 Status: Closed

Current Price: $9,000,000 List Date: 5/26/2015 Last Modified: 9/09/2024

Overview

Description

Old Town Manor & Rose Lane Villas are comprised of 20 rentable rooms in the very heart of the Old Town commercial district located 1/2 block from Duval St. and in the vibrant Eaton St. Arts District. The 4 buildings on 3 parcels include an historic 1886 Victorian mansion and carriage house with 14 rentable rooms with the possibility of expansion and 2 two-story conch houses with 6 rentable rooms. The vast lush gardens are utilized for the successful wedding business and the 49 seat restaurant license. The financials are excellent. Listed at a 7.04% cap rate,, this investment opportunity with KW's regulated supply and seemingly endless demand is too good to pass up in today's investment market.

Listing Details MLS# 121637

Location, Tax & Legal

Street #: 511
Street Name: Eaton
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unrecord (1.0)
County: Monroe
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
Species List: Yes

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 17108
Waterfront: No
Business Name: Old Town Manor & Ros
Year Established: 2006-01-01
# Parking Spaces: 9
# Stories: 2
Total # Buildings: 4
Building SqFt: 9422
Total Units: 20

Status Change Info

Under Contract Date: 2016-01-11
Leased Date: 2016-01-15

License Info

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

Association Info

Mandatory Home Owners Asc: No

More Information

Property Info

NOI: 747000

Vehicle Storage

Car(s): 4+

Financial Status

Potential Short Sale: No

Property Features

Deed Restrictions: Unknown License Info: Non Trans Rntl Lic Type: Hotel/Motel; Restaurant; Other Services Dockage: None Vehicle Storage: Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer; Propane Interior Features: Laundry Room Miscellaneous: Fencing; High Traffc Location; High Visibility; Lobby; Patio; Pool; Sprinkler System; Storage; Utility Building Construction: Frame Floor: Vinyl; Wood Roof: Metal Roof Land Size: 1/4 - 1/2 Acre Property Rights: Transient License

Listing Office: At Home in Key West, Inc.

Last Updated: September - 09 - 2024

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