40 W KYLE Way 10 Units, Marathon, FL 33050

$1,525,000

Property Type: Commercial Sale Bedrooms: 12 Baths: 10 Square Footage: 6,248 Lot Size (sq. ft.): 20,010 Status: Closed

Current Price: $1,525,000 List Date: 1/13/2017 Last Modified: 12/20/2025

Description

Knight's Key Inn a boutique motel located near the base of the 7 Mile Bridge in Marathon boasts open water views of the Atlantic Ocean with 9 transient motel units and 1 manager's unit. 7 units are 1 bdrm 1 bath with approx 800 sf and include kitchenettes. 2 units are 1 bdrm, 2 bath and include kitchenettes. Lots of amenities nearby. Swimming pool on site. See additional remarks for more detail

Supplements: THIS BUILDING HAS SEVERAL POTENTIAL USES: MOTEL AND/OR VACATION RENTALS (7 DAYS): This is the current use which allows for nightly and/or vacation rentals. AFFORDABLE HOUSING APARTMENTS: By selling off the 9 transient motel units it reduces the overall price of the building and becomes a 10 unit affordable apartment building. TRANSIENT RENTAL LICENSE SALE: Example by selling the transient licenses for approx $98,000 each x 9 reduces the price by $875,000 leaving the cost of the building at $775,000 or as adjusted. Note: Currently the transient rights and building are listed together and separately but must close simultaneously.

More Information MLS# 573088

Contract Information

Listing Board: Marathon/Lower Keys Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No For Sale/Lease: For Sale Species List: No Current Price: $1,525,000 Listing Date: 2016-12-06 Sold Price: $1,525,000

Location, Tax & Legal

Unit #: 10 Units City: MARATHON Off Shore Island: No Mile Marker: 47 Side: Ocean Flood Zone: AE Alternate Key #: 1394254 Add'l Parcel #1: 00319790-000000 Parcel #: 00319800-000000 Zoning: RH - Residential High Legal: BK 2 LT 7 AND PT LT 8 KNIGHTS KEY VILLAGE KNIGHTS KEY PB5-84 OR477-582 OR681-216 OR809-2199 OR1077-2490/91 OR2341-2273/7 Taxes: 11599.07 Tax Year: 2016 Street #: 40 Direction: W Street Name: KYLE Street Suffix: Way Key/Island: Marathon State/Province: FL Zip Code: 33050 Subdivision: Knights Key Village (47.0) County: Monroe Area: 13 - 7 Mile Bridge to Sombrero Bch Rd E & W

General Property Description

Realtor.COM Type: Commercial Waterfront: No Control Depth: 0 Lot Size: 190x58x88x115 Lot SqFt: 20010 Business Name: Knight's Key Inn Total Units: 10 # Parking Spaces: 20+ # Stories: 3 SqFt Source: Tax Records Total # Buildings: 1 Building SqFt: 6248 Style: Commercial Living Apx SqFt: 6248 Year Built: 1968 Total Bedrooms: 12 Full Baths: 10 Total Baths: 10

Remarks & Misc

Remarks – Consumer: Knight's Key Inn a boutique motel located near the base of the 7 Mile Bridge in Marathon boasts open water views of the Atlantic Ocean with 9 transient motel units and 1 manager's unit. 7 units are 1 bdrm 1 bath with approx 800 sf and include kitchenettes. 2 units are 1 bdrm, 2 bath and include kitchenettes. Lots of amenities nearby. Swimming pool on site. See additional remarks for more detail Directions: From US 1 just before the 7 Mile bridge turn right onto Knight's Key. Go to the end of the street and veer left at Sunset Grill. The motel is just down the street on the left. Oceanside.

Status Change Info

Sold Comments: Property sold with 10 transient building rights Sold Date: 2017-02-28 Sold Price: $1,525,000 Status: Closed

Deed Restrictions

No: 1

Association Info

Mandatory Home Owners Asc: No

License Info

# of Transient Licns: 7 Non Trans Rntl Lic: 1 Other/See Remarks: 1

Type

Apartment 3 or more: 1 Hotel/Motel: 1

Fee Includes

None: 1

Dockage

None: 1

Appliances

Other: Kitchenettes

Property Info

1 Bed/Bath: 7 2 Bed/Bath: 2

Waterfront

None: 1

Waterview

Ocean View: 1 Open Water View: 1

Interior Features

Furnished: 1 Smoke Alarms: 1

Vehicle Storage

Common Parking: 1 Off Street Parking: 1

Construction

CBS: 1

Land Size

1/4 - 1/2 Acre: 1

Terms

Buyer Obtain Finance: 1

Utilities

FKAA: 1 Municipal Sewer: 1

Title

Negotiable: 1

Property Rights

Multi-Use/Commercial: 1 Tranfrble Dev Right: 1 Transient License: 1

Miscellaneous

Open Water View: 1 Pool: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

Deed Restrictions: No License Info: Non Trans Rntl Lic; Other/See Remarks Type: Apartment 3 or more; Hotel/Motel Waterfront: None Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Common Parking; Off Street Parking Utilities: FKAA; Municipal Sewer Interior Features: Furnished; Smoke Alarms Miscellaneous: Open Water View; Pool Construction: CBS Land Size: 1/4 - 1/2 Acre Fee Includes: None Terms: Buyer Obtain Finance Title: Negotiable Property Rights: Multi-Use/Commercial; Tranfrble Dev Right; Transient License

Documents

Confidentiality Agreement ›

Listing Office: RE/MAX Realty Group

Last Updated: December - 20 - 2025

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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