325 Duval Street, Key West, FL 33040
$10,000,000
Property Type:
Commercial Sale
Bedrooms:
14
Baths:
12
Square Footage:
2,640
Lot Size (sq. ft.):
12,725
Status:
Closed
Current Price:
$10,000,000
List Date:
4/11/2023
Last Modified:
9/09/2024
Description
Possible Short term Owner Financing Considered - Lower Duval Street, 12 unit guesthouse complex offering over sized single rooms, suites & 2 bedroom units with kitchens with large heated pool. - - - Perfect location within the 2-4 block Entertainment District of Old Town inclusive of bars, restaurants, theaters, Mallory Square attractions and the cruise ship port. >>>> Huge 13,000 sq ft parcel buffered from traffic & street noise, with rooms being setback 40' from Duval. The 200' deep parcel provides a unique 100 foot separation between the front & rear, 3 & 2 story structures - offering guests considerably more privacy. *** Valuable 6 space, compact car guest parking situated between the two collective 7,000 sq.ft buildings. Casa 325 Suites offers a melding of a (7) unit, 100 year old 3 story, ship builders' construction - along with a more recently developed, 5 unit, 2 story structure offering larger rooms & vaulted ceilings. +++ All units have custom furniture built from reclaimed Dade County Pine. Large 2 bdrm ADA unit with kitchen. Prime Duval Street attractions booth included, situated at driveway entrance, currently leased out but should be operated by the Guesthouse operation itself.
||||| Go to Casa325.com for full array of pictures, layout of units & rates. Excellent Trip Advisor Rating. There are also (13) electric meters & ( 7 ) water meters on site.
** See 'Documents for Survey, Licenses & aerial with lot lines **
CASH FLOW - 2021 - $1.33 mil gross / NOI - $705,000. 89% Average Occupancy |2022 - $1.3 mil gross / NOI $600,000 - 88% Average Occupancy. $665,000 Advance Bookings as of 10/2023 - 12/2024
The over sized rooms and property amenities will support higher rates than what is being charged. (7) out of the 12 units have kitchens
More Information MLS# 598172
Contract Information
Current Price: $10,000,000
Listing Date: 2021-10-20
Listing Board: Key West Association
Sold Price: $10,000,000
Limited Representation: No
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Species List: No
Location Tax Legal
Street #: 325
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
Style: Commercial
Lot Size: 55' x 241
Lot SqFt: 12725
Waterfront: No
Business Name: casa325 suites
Year Established: 1989-12-31
# Parking Spaces: 6
Off Street Parking: yes
# Stories: 2
Total # Buildings: 2
Building SqFt: 6235
SqFt Source: Property Data Card
Living Apx SqFt: 2640
Year Built: 1933
Total Bedrooms: 14
Full Baths: 12
Total Baths: 12
Status Change Info
Under Contract Date: 2023-11-13
Sold Date: 2023-12-15
Sold Price: $10,000,000
Status: Closed
License Info
# of City License: 12
# of County License: 12
# of Transient Licns: 12
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Property Info
# Kitchens: 7
# Refrigerators: 12
# Washers: 3
# Dryers: 3
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Deed Restrictions: No
License Info: Other/See Remarks
Property Info: License Included
Type: Hotel/Motel
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Guest Parking; Off Street Parking
Cooling: Ceiling Fans(s); Central Air; Heat Pump; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Cathedral Ceilings; Drapes/Blinds Incl; Furnished; Laundry Room; Smoke Alarms; Split Bedroom; Window Treatments
Appliances: Refrigerator; Washer
Miscellaneous: Lobby; Patio; Pool; Utility Building
Construction: Frame
Electric: Circuit Breakers
Shutters: Panel
Floor: Wood
Roof: Shingle Roof; Tin Roof
Land Size: Less Than 1/4 Acre
Fee Includes: None
Title: Negotiable
Property Rights: Transient License
Documents
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
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.
Aerial View Lot Lines ›