511 Eaton Street, Key West, FL 33040
$9,000,000
Property Type:
Commercial
Lot Size (sq. ft.):
17,108
Status:
Closed
Current Price:
$9,000,000
List Date:
5/26/2015
Last Modified:
9/09/2024
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.
More Information MLS# 121637
Contract Information
Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
For Sale/Lease: For Sale
Species List: Yes
Current Price: $9,000,000
Listing Date: 2015-05-26
Sold Price: $9,000,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Side: Median
Flood Zone: X and AE
Alternate Key #: 1004502
Add'l Parcel #1: 522 Rose Lane
Parcel #: 511 Eaton Street
Add'l Parcel #2: 524 Rose Lane
Bldg Nbr: 2
Legal: See Appraiser's website for three separate parcels: 511 Eaton St., 522 Rose Lane and 524 Rose Lane
Taxes: 43000
Tax Year: 2014
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
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Lot SqFt: 17108
Business Name: Old Town Manor & Ros
Total Units: 20
Year Established: 2006-01-01
# Parking Spaces: 9
# Stories: 2
Building Ht. Ft.: 0
Total # Buildings: 4
Building SqFt: 9422
Style: Commercial
Remarks & Misc
Remarks – Consumer: 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.
Directions: US1 South to Duval Street. North (right) on Duval St to Eaton St. East (right) on Eaton St. Old Town Manor is near Duval on North (left) side of street.
Deed Restrictions
Unknown: 1
Association Info
Mandatory Home Owners Asc: No
Association Fee $: 0
License Info
# of City License: 3
# of Transient Licns: 2
Non Trans Rntl Lic: 1
Type
Hotel/Motel: 1
Restaurant: 1
Other Services: 1
Dockage
None: 1
Accounts & Meters
# Sewer Accounts: 6
Property Info
Gross Annual Expense: 0
NOI: 747000
Cooling
Ceiling Fans(s): 1
Wall/Window Unit(s): 1
Floor
Vinyl: 1
Wood: 1
Interior Features
Laundry Room: 1
Windows/Doors
Wood Windows: 1
Vehicle Storage
Car(s): 4+
Guest Parking: 1
Off Street Parking: 1
Construction
Frame: 1
Land Size
1/4 - 1/2 Acre: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Propane: 1
Property Rights
Transient License: 1
Miscellaneous
Fencing: 1
High Traffc Location: 1
High Visibility: 1
Lobby: 1
Patio: 1
Pool: 1
Sprinkler System: 1
Storage: 1
Utility Building: 1
Roof
Metal Roof: 1
Financial Status
Potential Short Sale: No
Status Change Info
Sold Date: 2016-01-15
Sold Price: $9,000,000
Status: Closed
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
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.