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
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 covered parking. Some of the photos are pre-Irma and the name La Te Da by the Sea does not convey.
More Information MLS# 577031
Contract Information
Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
For Sale/Lease: For Sale
Current Price: $6,450,000
Listing Date: 2017-10-09
Sold Price: $6,450,000
Location, Tax & Legal
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
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
General Property Description
Realtor.COM Type: Commercial
Waterfront: Yes
Control Depth: 3
Lot SqFt: 119835
Business Name: La Te Da by the Sea
Total Units: 38
Year Established: 2017-01-01
# Parking Spaces: 70
# Stories: 3
Building Ht. Ft.: 35
SqFt Source: Property Data Card
Total # Buildings: 3
Building SqFt: 13586
Style: Commercial
Year Built: 2000
Total Bedrooms: 26
Full Baths: 16
Half Baths: 4
Total Baths: 16.4
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: 1
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
License Info
# of Transient Licns: 38
Type
Bar: 1
Grocery/Convenience: 1
Hotel/Motel: 1
Mobile Home Park: 1
Restaurant: 1
Retail: 1
Fee Includes
None: 1
Dockage
None: 1
Appliances
Dishwasher: 1
Range: 1
Refrigerator: 1
Property Info
# Kitchens: 11
# Refrigerators: 11
# Range/Ovens: 11
# Dishwashers: 11
2 Bed/Bath: 8
3 Bed/Bath: 2
4 Bed/Bath: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Waterfront
Oceanfront: 1
Open Water: 1
Waterview
Ocean View: 1
Open Water View: 1
Floor
Tile: 1
Interior Features
Drapes/Blinds Incl: 1
Furnished: 1
Laundry Room: 1
Split Bedroom: 1
Window Treatments: 1
Vehicle Storage
Covered Parking: 1
Guest Parking: 1
Off Street Parking: 1
Construction
CBS: 1
Land Size
2 Less Than 5 Acres: 1
Terms
No Seller Finance: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Property Rights
Transient License: 1
Miscellaneous
Elevator: 1
High Traffc Location: 1
High Visibility: 1
Highway Frontage: 1
Open Water View: 1
Pool: 1
Residence on Premise: 1
Roof
Concrete Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Shutters
Accordion: 1
Status Change Info
Sold Date: 2018-09-18
Sold Price: $6,450,000
Status: Closed
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.