58182 Overseas Highway, Marathon, FL 33050

$6,450,000

Property Type: Commercial Sale Bedrooms: 26 Baths: 16.4 Lot Size (sq. ft.): 119,835 Status: Closed

Current Price: $6,450,000 List Date: 10/11/2017 Last Modified: 9/10/2024

Overview

Description

Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately!

Supplements: The recently constructed (2000) elevated 10-unit suite hotel (made up of 8 two bedroom rooms and 2 three bedroom rooms for a total of 22 bedrooms) plus a 4 bedroom 2 bath oceanfront home. The large property has an in-ground pool, 195 ft. of beach overlooking the Atlantic Ocean, separate office, laundry room, manager's apartment, elevator, and cove ... (Read more)

Listing Details MLS# 577031

Location, Tax & Legal

Street #: 58182
Street Name: Overseas
Street Suffix: Highway
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
Subdivision: Grassy Key (58.9)
County: Monroe
Area: 19 - Crawl Key & Grassy Key
KW Neighborhood: Outside of Key West
City: MARATHON
Off Shore Island: No
Mile Marker: 58.9
Side: Ocean
Alternate Key #: 1454036
Add'l Parcel #1: 00371000-000000
Parcel #: 00370940-000000-00370980-00000
Add'l Parcel #2: 00371060-000000
Zoning: MU - Mixed Use Commercial Mixed Use
Legal: CRAINS SUBD PB1-51 GRASSY KEY LOTS 1 2 & 3 SQR 36 & W'LY 15' UNNAMED ST ADJ LOT 1 RES B-C-C 8/11/61 & ADJ PORTION OF FLA
Taxes: 28338.08
Tax Year: 2016

Contract Information

Listing Board: Key West Association
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: 119835
Waterfront: Yes
Control Depth: 3
Business Name: La Te Da by the Sea
Year Established: 2017-01-01
# Parking Spaces: 70
# Stories: 3
Building Ht. Ft.: 35
Total # Buildings: 3
Building SqFt: 13586
SqFt Source: Property Data Card
Total Units: 38
Year Built: 2000
Total Bedrooms: 26
Full Baths: 16
Half Baths: 4
Total Baths: 16.4

Status Change Info

Under Contract Date: 2018-09-10
Sold Date: 2018-09-18

License Info

# of Transient Licns: 38

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No

More Information

Property Info

# Kitchens: 11
# Refrigerators: 11
# Range/Ovens: 11
# Dishwashers: 11
2 Bed/Bath: 8
3 Bed/Bath: 2
4 Bed/Bath: Yes

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: Beautiful oceanfront hotel with 11 large 2, 3, and 4 bedroom units (average of 1,125 square feet each) and 27 additional transient rental licenses on 2.75 acres. In 2017 the entire interior (and most of the exterior) was painted and the furnishings replaced. New AC and elevator. There are 3 pools, a dock, parking (some covered), 550 lineal feet of oceanfront and direct access from US 1. Being sold As Is this is one of those rare opportunities to do some developing in the Florida Keys and MU zoning allows for many uses including Retail, Restaurant, Recreational, Apartments, Vacation Rentals and more. Hotel is also perfect for a quick condominiumization as each unit is metered separately!
Directions: Oceanfront at MM58 in Grassy Key between Marathon and Duck Key.

Deed Restrictions

Unknown: Yes

Type

Bar: Yes
Grocery/Convenience: Yes
Hotel/Motel: Yes
Mobile Home Park: Yes
Restaurant: Yes
Retail: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes

Waterfront

Oceanfront: Yes
Open Water: Yes

Waterview

Ocean View: Yes
Open Water View: Yes

Floor

Tile: Yes

Interior Features

Drapes/Blinds Incl: Yes
Furnished: Yes
Laundry Room: Yes
Split Bedroom: Yes
Window Treatments: Yes

Vehicle Storage

Covered Parking: Yes
Guest Parking: Yes
Off Street Parking: Yes

Construction

CBS: Yes

Land Size

2 Less Than 5 Acres: Yes

Terms

No Seller Finance: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Rights

Transient License: Yes

Miscellaneous

Elevator: Yes
High Traffc Location: Yes
High Visibility: Yes
Highway Frontage: Yes
Open Water View: Yes
Pool: Yes
Residence on Premise: Yes

Roof

Concrete Roof: Yes

Shutters

Accordion: Yes

Property Features

Deed Restrictions: Unknown Type: Bar; Grocery/Convenience; Hotel/Motel; Mobile Home Park; Restaurant; Retail Waterfront: Oceanfront; Open Water Waterview: Ocean View; Open Water View Dockage: None Vehicle Storage: Covered Parking; Guest Parking; Off Street Parking Cooling: Ceiling Fans(s); Central Air Utilities: FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Split Bedroom; Window Treatments Appliances: Dishwasher; Range; Refrigerator Miscellaneous: Elevator; High Traffc Location; High Visibility; Highway Frontage; Open Water View; Pool; Residence on Premise Construction: CBS Shutters: Accordion Floor: Tile Roof: Concrete Roof Land Size: 2 Less Than 5 Acres Fee Includes: None Terms: No Seller Finance Property Rights: Transient License

Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty

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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