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58182 Overseas Highway, Marathon, FL 33050

$6,450,000
Property Type: Commercial Bedrooms: 26 Baths: 16.4 Lot Size (sq. ft.): 119,835 Status: Closed
Current Price: $6,450,000 List Date: 10/11/2017 Last Modified: 9/10/2024

Overview

Description

Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately!

Supplements: The recently constructed (2000) elevated 10-unit suite hotel (made up of 8 two bedroom rooms and 2 three bedroom rooms for a total of 22 bedrooms) plus a 4 bedroom 2 bath oceanfront home. The large property has an in-ground pool, 195 ft. of beach overlooking the Atlantic Ocean, separate office, laundry room, manager's apartment, elevator, and cove ...

Listing Details MLS# 577031

Location, Tax & Legal

Street #
58182
Street Name
Overseas
Street Suffix
Highway
Key/Island
Marathon
State/Province
FL
Zip Code
33050
Subdivision
Grassy Key (58.9)
County
Monroe
Area
19 - Crawl Key & Grassy Key
KW Neighborhood
Outside of Key West
City
MARATHON
Off Shore Island
No
Mile Marker
58.9
Side
Ocean
Alternate Key #
1454036
Add'l Parcel #1
00371000-000000
Parcel #
00370940-000000-00370980-00000
Add'l Parcel #2
00371060-000000
Zoning
MU - Mixed Use Commercial Mixed Use
Legal
CRAINS SUBD PB1-51 GRASSY KEY LOTS 1 2 & 3 SQR 36 & W'LY 15' UNNAMED ST ADJ LOT 1 RES B-C-C 8/11/61 & ADJ PORTION OF FLA
Taxes
28338.08
Tax Year
2016

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
119835
Waterfront
Yes
Control Depth
3
Business Name
La Te Da by the Sea
Year Established
2017-01-01
# Parking Spaces
70
# Stories
3
Building Ht. Ft.
35
Total # Buildings
3
Building SqFt
13586
SqFt Source
Property Data Card
Total Units
38
Year Built
2000
Total Bedrooms
26
Full Baths
16
Half Baths
4
Total Baths
16.4

Status Change Info

Sold Date
2018-09-18

License Info

# of Transient Licns
38

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

More Information

Property Info

# Kitchens
11
# Refrigerators
11
# Range/Ovens
11
# Dishwashers
11
2 Bed/Bath
8
3 Bed/Bath
2
4 Bed/Bath
Yes

Financial Status

Bank Owned
No
Potential Short Sale
No

Remarks & Misc

Remarks – Consumer
Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately!
Directions
Oceanfront at MM58 in Grassy Key between Marathon and Duck Key.

Deed Restrictions

Unknown
Yes

Type

Bar
Yes
Grocery/Convenience
Yes
Hotel/Motel
Yes
Mobile Home Park
Yes
Restaurant
Yes
Retail
Yes

Fee Includes

None
Yes

Dockage

None
Yes

Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Cooling

Ceiling Fans(s)
Yes
Central Air
Yes

Waterfront

Oceanfront
Yes
Open Water
Yes

Waterview

Ocean View
Yes
Open Water View
Yes

Floor

Tile
Yes

Interior Features

Drapes/Blinds Incl
Yes
Furnished
Yes
Laundry Room
Yes
Split Bedroom
Yes
Window Treatments
Yes

Vehicle Storage

Covered Parking
Yes
Guest Parking
Yes
Off Street Parking
Yes

Construction

CBS
Yes

Land Size

2 Less Than 5 Acres
Yes

Terms

No Seller Finance
Yes

Utilities

FKAA
Yes
Municipal Sewer
Yes

Property Rights

Transient License
Yes

Miscellaneous

Elevator
Yes
High Traffc Location
Yes
High Visibility
Yes
Highway Frontage
Yes
Open Water View
Yes
Pool
Yes
Residence on Premise
Yes

Roof

Concrete Roof
Yes

Shutters

Accordion
Yes

Property Features

Deed Restrictions: Unknown Type: Bar; Grocery/Convenience; Hotel/Motel; Mobile Home Park; Restaurant; Retail Waterfront: Oceanfront; Open Water Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Covered Parking; Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air Utilities: FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Split Bedroom; Window Treatments Appliances: Dishwasher; Range; Refrigerator Miscellaneous: Elevator; High Traffc Location; High Visibility; Highway Frontage; Open Water View; Pool; Residence on Premise Construction: CBS Shutters: Accordion Floor: Tile Roof: Concrete Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: No Seller Finance Property Rights: Transient License
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
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.
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