3591 S Roosevelt Boulevard, Key West, FL 33040
$5,500,000
Property Type:
Commercial
Square Footage:
21,582
Lot Size (sq. ft.):
57,499
Status:
Closed
Current Price:
$5,500,000
List Date:
9/20/2016
Last Modified:
9/09/2024
Description
Oceanfront commercial complex with two operating oceanfront restaurants. Attention investors and 1031 Exchange Key West Buyers! Two Atlantic Oceanfront restaurants on 1.3 acres of land right next to the newly renovated Key West International Airport and located adjacent and next to two major resorts on the Oceanside of Key West, an Oceanfront Best Western and Hyatt Resort with close to 300 units. Tenant on property will deliver a cap rate of over 7.5%.
Supplements: The two restaurants and large rear underutilized warehouse deliver 21,582 SF of space. With parking for over 75 cars in the rear and 24 leased spaces, there is further mixed use development opportunity on the property as well. Price is for land and real estate only. This property is being sold as a restaurant leasehold opportunity with leases in place; a turn-key Benihana International franchise owned by the owner of the real estate and a leasehold on an upscale Key West Italian restaurant brand La Trattoria. The property is located directly on A1A. This is a major oceanfront highway in Key West leading to the islands public beaches and resorts.
More Information MLS# 572027
Contract Information
Current Price: $5,500,000
Listing Date: 2016-09-20
Listing Board: Key West Association
Sold Price: $5,500,000
Limited Representation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Location Tax Legal
Street #: 3591
Direction: S
Street Name: Roosevelt
Street Suffix: Boulevard
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Key West Fwdn Sub (4.0)
County: Monroe
Area: 04 - Key West
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 1.32
Lot SqFt: 57499
Waterfront: No
# Parking Spaces: 75
Off Street Parking: yes
Building SqFt: 21582
Living Apx SqFt: 21582
Year Built: 1963
Status Change Info
Sold Date: 2018-09-21
Sold Price: $5,500,000
Status: Closed
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Deed Restrictions: Unknown
Type: Franchise; Franchise; Office Buildings; Professional Service; Restaurant; Retail; Wholesale Mfg/Wrhse
Waterfront: None
Waterview: Ocean View; Open Water View
Dockage: None
Vehicle Storage: Off Street Parking
Utilities: FKAA; Municipal Sewer
Construction: CBS; Combo Construction
Land Size: 1 Less Than 2 Acres
Fee Includes: None
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: September - 09 - 2024
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