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99490 Overseas Highway, Key Largo, FL 33037

$13,000,000
Property Type: Commercial Bedrooms: 56 Baths: 60 Square Footage: 2,000 Lot Size (sq. ft.): 104,979 Status: Closed
Current Price: $13,000,000 List Date: 5/01/2018 Last Modified: 9/10/2024

Overview

Description

Florida Keys Bayfront 56 unit hotel featuring magnificent sunsets, a sandy beach, pool, fitness center, and dockage and jettys. The resort is of CBS and twin ''T'' construction with tin roofs, accordian shutters, elevator and fire hydrants on each floor. There is a Sushi Thai leased mo. to mo. for $3,952. Centrally located in Key Largo, the dive capital of the world. Walking distance to numerous restaurants & Tiki bars as well as fishing charter/dive boats going to John Pennekamp Coral Reef State Park. Possible expansion of 54 hotel units to 54 one bedroom suites subject to Monroe County approval. All prospects must sign and strictly respect the confidentiality/non-disclosure agreement. Site visits will only be allowed upon buyer qualification and require the listing agent's presence.

Supplements: The concrete construction, X flood zone, and solid rock foundation stood strong during last years hurricane Irma. The motel stayed open continually housing FEMA employees and many residents.

Listing Details MLS# 579966

Location, Tax & Legal

Street #
99490
Street Name
Overseas
Street Suffix
Highway
Key/Island
Key Largo
State/Province
FL
Zip Code
33037
Subdivision
Sunset Cove (99.5)
County
Monroe
Area
27 - Key Largo MM 97-107
City
KEY LARGO
Off Shore Island
No
Mile Marker
99.5
Side
Bay/Gulf
Flood Zone
X,AE,VE,VE
Alternate Key #
8750307
Parcel #
00504170-000100
Zoning
SC - Sub Urban Commercial District
Legal
REVISED PLAT OF SUNSET COVE PB2-20 KEY LARGO ALL TRACT 20 AND LOTS 1 THRU 7 TRACT 21 LESS N 100FT OF LOTS 3 THRU 6 OR130
Taxes
46276.26
Tax Year
2017

Contract Information

Listing Board
Florida Keys
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
104979
Waterfront
Yes
Control Depth
4
Business Name
Bayside Resort
Year Established
2001-01-01
Off Street Parking
Yes
# Stories
3
Total # Buildings
4
Building SqFt
22502
SqFt Source
Tax Records
Living Apx SqFt
2000
Year Built
2000
Total Bedrooms
56
Full Baths
60
Total Baths
60
Total Units
0

Status Change Info

Sold Date
2018-10-24

License Info

# of County License
2
# of Transient Licns
56
2-Cop (Beer & Wine)
Yes

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

More Information

Misc Property Info

Recorded Plat
Yes

Property Info

1 Bed/Bath
56

Dockage

Dock
Concrete
Seawall
Concrete

Financial Status

Bank Owned
No
Potential Short Sale
No

Remarks & Misc

Remarks – Consumer
Florida Keys Bayfront 56 unit hotel featuring magnificent sunsets, a sandy beach, pool, fitness center, and dockage and jettys. The resort is of CBS and twin ''T'' construction with tin roofs, accordian shutters, elevator and fire hydrants on each floor. There is a Sushi Thai leased mo. to mo. for $3,952. Centrally located in Key Largo, the dive capital of the world. Walking distance to numerous restaurants & Tiki bars as well as fishing charter/dive boats going to John Pennekamp Coral Reef State Park. Possible expansion of 54 hotel units to 54 one bedroom suites subject to Monroe County approval. All prospects must sign and strictly respect the confidentiality/non-disclosure agreement. Site visits will only be allowed upon buyer qualification and require the listing agent's presence.

Deed Restrictions

No
Yes

Type

Hotel/Motel
Yes
Restaurant
Yes

Fee Includes

None
Yes

Appliances

Range
Yes
Refrigerator
Yes

Cooling

Central Air
Yes
Heat Pump
Yes

Waterfront

Bay Front
Yes

Electric

220 Volt
Yes

Waterview

Bay/Gulf View
Yes

Floor

Concrete
Yes

Interior Features

Furnished
Yes

Vehicle Storage

Off Street Parking
Yes

Construction

CBS
Yes

Land Size

2 Less Than 5 Acres
Yes

Terms

Buyer Obtain Finance
Yes
No Seller Finance
Yes

Utilities

Community Swr Plant
Yes
FKAA
Yes

Title

Title Ins - Buyer
Yes

Property Rights

Beverage License
Yes
Boat Slip Lease
Yes
Transient License
Yes

Miscellaneous

Elevator
Yes
Fencing
Yes
Handicap Access
Yes
High Traffc Location
Yes
High Visibility
Yes
Highway Frontage
Yes
Lobby
Yes
Open Water View
Yes
Pool
Yes
Security System
Yes

Roof

Tin Roof
Yes

Shutters

Accordion
Yes

Property Features

Deed Restrictions: No License Info: 2-Cop (Beer & Wine) Type: Hotel/Motel; Restaurant Waterfront: Bay Front Waterview: Bay/Gulf View Vehicle Storage: Off Street Parking Cooling: Central Air; Heat Pump Utilities: Community Swr Plant; FKAA Interior Features: Furnished Appliances: Range; Refrigerator Miscellaneous: Elevator; Fencing; Handicap Access; High Traffc Location; High Visibility; Highway Frontage; Lobby; Open Water View; Pool; Security System Construction: CBS Electric: 220 Volt Shutters: Accordion Floor: Concrete Roof: Tin Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: Buyer Obtain Finance; No Seller Finance Title: Title Ins - Buyer Property Rights: Beverage License; Boat Slip Lease; Transient License

Documents

Listing Office: Cornell Commercial Real Estate, Inc.
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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