810-812 Duval Street, Key West, FL 33040
$6,950,000
Property Type:
Commercial
Bedrooms:
11
Baths:
11.2
Lot Size (sq. ft.):
10,703
Status:
Closed
Current Price:
$6,950,000
List Date:
6/18/2019
Last Modified:
9/09/2024
Description
Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St and equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy. With an excellent ROI plus occupancy upside, the 11 exquisitely appointed guest rooms are each unique and are situated in 4 historic homes on nearly 1/4 acre of land in the heart of Key West's Commercial District. Lush tropical gardens, pools and spa create an enchanting paradise for guests who frequently visit the inn. With 20 years of success, the Tropical Inn has a large percentage of repeat guests. Tropical Inn consistently outperforms the average daily rate for Key West B&B's and 2019 revenue is up over 13% from 2018. The property consists of 4 parcels with 11 transient licenses and a commercial retail space on Duval St.
Supplements: currently leased by Vino's wine bar where guests enjoy a daily Happy Hour. Guests are also served continental breakfast and fresh fruit daily. Beautifully maintained structures and grounds along with a long consistent history of excellent financials make Tropical Inn a rock solid investment ready for a new owner to take the reigns and increase its enduring prosperity.
More Information MLS# 586161
Contract Information
Listing Board: Key West Association
Limited Representation: No
Potential Short Sale: No
Bank Owned: No
For Sale/Lease: For Sale
Current Price: $6,950,000
Listing Date: 2019-06-18
Sold Price: $6,950,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: N/A
Flood Zone: X
Alternate Key #: 1017361
Add'l Parcel #1: 00016940-000000
Parcel #: 00016950-000000
Add'l Parcel #2: 00016990-000000
Bldg Nbr: 4
Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl
Legal: KW PT LOT 1 SQR 6 TR 4 and KW PT LOT 1 SQR 6 TR 4 G49-535/36 and KW PT LOT 1 SQR 6 TR 4 D2-234 and KW PT LOT 1 SQR 6 TR
Taxes: 35214.39
Tax Year: 2018
Street #: 810-812
Street Name: Duval
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unlisted (1.0)
County: Monroe
Area: 02 - Key West
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: Add'l Parcel #3 00016980-000000
Lot SqFt: 10703
Business Name: Tropical Inn
Total Units: 12
Year Established: 1999-10-28
# Parking Spaces: 2
Off Street Parking: Yes
# Stories: 1
SqFt Source: Property Data Card
Total # Buildings: 4
Building SqFt: 4429
Style: Commercial
Year Built: 1890
Total Bedrooms: 11
Full Baths: 11
Half Baths: 2
Total Baths: 11.2
Remarks & Misc
Remarks – Consumer: Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St and equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy. With an excellent ROI plus occupancy upside, the 11 exquisitely appointed guest rooms are each unique and are situated in 4 historic homes on nearly 1/4 acre of land in the heart of Key West's Commercial District. Lush tropical gardens, pools and spa create an enchanting paradise for guests who frequently visit the inn. With 20 years of success, the Tropical Inn has a large percentage of repeat guests. Tropical Inn consistently outperforms the average daily rate for Key West B&B's and 2019 revenue is up over 13% from 2018. The property consists of 4 parcels with 11 transient licenses and a commercial retail space on Duval St.
Directions: US1 South to Duval Street. Go right (north) on Duval St for 1 1/2 blocks. Tropical Inn is then on the left (west) side of Duval Street. Do not disturb business. Listing Agent must be present.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
License Info
# of Transient Licns: 11
Type
Bar: 1
Hotel/Motel: 1
Restaurant: 1
Retail: 1
Fee Includes
None: 1
Dockage
None: 1
Accounts & Meters
# Sewer Accounts: 5
# Water Meters: 5
# Electric Meters: 5
Appliances
Dishwasher: 1
Dryer: 1
Refrigerator: 1
Washer: 1
Property Info
# Kitchens: 2
# Refrigerators: 13
# Washers: 2
# Dryers: 3
# Dishwashers: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Heat: 1
Heat Pump: 1
Wall/Window Unit(s): 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Carpet: 1
Tile: 1
Wood: 1
Interior Features
Cathedral Ceilings: 1
Drapes/Blinds Incl: 1
Entrance Foyer: 1
Furnished: 1
Laundry Room: 1
Pantry: 1
Smoke Alarms: 1
Whirlpool Bath Tub: 1
Window Treatments: 1
Windows/Doors
Wood Windows: 1
Vehicle Storage
Car(s): 2
Off Street Parking: 1
Construction
Frame: 1
Land Size
More than 1 Lot: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Property Rights
Multi-Use/Commercial: 1
Transient License: 1
Miscellaneous
Fencing: 1
High Traffc Location: 1
High Visibility: 1
Hot Tub: 1
Lobby: 1
Patio: 1
Pool: 1
Spa: 1
Storage: 1
Other Miscellaneous: 1
Roof
Metal Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Sold Date: 2021-07-13
Sold Price: $6,950,000
Status: Closed
Property Features
Type: Bar; Hotel/Motel; Restaurant; Retail
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Off Street Parking
Cooling: Ceiling Fans(s); Central Air; Heat; Heat Pump; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Cathedral Ceilings; Drapes/Blinds Incl; Entrance Foyer; Furnished; Laundry Room; Pantry; Smoke Alarms; Whirlpool Bath Tub; Window Treatments
Appliances: Dishwasher; Dryer; Refrigerator; Washer
Miscellaneous: Fencing; High Traffc Location; High Visibility; Hot Tub; Lobby; Patio; Pool; Spa; Storage; Other Miscellaneous
Construction: Frame
Floor: Carpet; Tile; Wood
Roof: Metal Roof
Land Size: More than 1 Lot
Fee Includes: None
Property Rights: Multi-Use/Commercial; Transient License
Site Plan Rendering ›
Listing Office:
Truman & Co. (KW)
Last Updated: September - 09 - 2024
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