1116 Grinnell Street, Key West, FL 33040
$3,200,000
Property Type:
Commercial
Lot Size (sq. ft.):
4,675
Status:
Closed
Current Price:
$3,200,000
List Date:
10/14/2013
Last Modified:
9/09/2024
Overview
Description
Listing Details MLS# 118719
Location, Tax & Legal
- Street #
- 1116
- Street Name
- Grinnell
- Street Suffix
- Street
- Key/Island
- Key West
- State/Province
- FL
- Zip Code
- 33040
- Subdivision
- GG Watson Sub (1.0)
- County
- Monroe
- Area
- 01 - Key West
- KW Neighborhood
- Old Town-S of Truman
- City
- KEY WEST
- Mile Marker
- 2
- Side
- Median
- Flood Zone
- X
- Alternate Key #
- 1032387
- Bldg Nbr
- No
- Zoning
- HMDR - Historic Medium Density Residential
- Legal
- KW G G WATSON SUB I-209 PT LOT 9 SQR 5 TR 13 G57-527/28
- Taxes
- 17900
- Tax Year
- 2012
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
- 4675
- Waterfront
- No
- Business Name
- The Grand Guesthouse
- Year Established
- 1999-01-01
- # Parking Spaces
- 6
- # Stories
- 2
- Total # Buildings
- 2
- Building SqFt
- 3384
- Total Units
- 11
- Year Built
- 1885
- Building Ht. Ft.
- 0
Status Change Info
- Sold Date
- 2014-09-26
License Info
- # of Transient Licns
- 3
Association Info
- Mandatory Home Owners Asc
- No
- Association Fee $
- 0
More Information
Financial Status
- Bank Owned
- No
- Potential Short Sale
- No
Remarks & Misc
- Remarks – Consumer
- The Grand Guesthouse is a rock-solid investment with outstanding financials and consistent year-over-year growth. Where in the current marketplace can one find proven and consistent returns in excess of a 7.5% cap rate? This is the best lodging property investment currently available; includes 2 buildings with 10 transient rental units + a 2-bedroom unit as on-site manager's residence. Front building is an 1885 historic bungalow; circa 1952 rear building houses 4 1-bedroom suites. Charming and well-maintained, the Grand Guesthouse attracts new and return visitors whilst maintaining excellent occupancy and ADR. Green Lodging Property, recipient of the Superior Small Lodging's White Glove award & Cert. of Exc. from Trip Adviser.
- Directions
- From Truman Avenue (US1), travel south on Grinnell St for 1 1/2 blocks. 1116 Grinnell is on the right in the middle of the block.
Deed Restrictions
- Unknown
- Yes
Type
- Hotel/Motel
- Yes
- Other Services
- Yes
Dockage
- None
- Yes
Property Info
- Gross Annual Expense
- 0
- NOI
- 0
Cooling
- Ceiling Fans(s)
- Yes
- Wall/Window Unit(s)
- Yes
Electric
- Circuit Breakers
- Yes
Floor
- Combo
- Yes
Interior Features
- Laundry Room
- Yes
Construction
- Frame
- Yes
Land Size
- Less Than 1/4 Acre
- Yes
Terms
- Owner Consider 2nd
- Yes
Utilities
- FKAA
- Yes
- Municipal Sewer
- Yes
Property Rights
- Transient License
- Yes
Miscellaneous
- Fencing
- Yes
- Manager on Premises
- Yes
- Patio
- Yes
- Residence on Premise
- Yes
- Storage
- Yes
Roof
- Metal Roof
- Yes
Property Features
Deed Restrictions:
Unknown
Type:
Hotel/Motel; Other Services
Dockage:
None
Cooling:
Ceiling Fans(s); Wall/Window Unit(s)
Utilities:
FKAA; Municipal Sewer
Interior Features:
Laundry Room
Miscellaneous:
Fencing; Manager on Premises; Patio; Residence on Premise; Storage
Construction:
Frame
Electric:
Circuit Breakers
Floor:
Combo
Roof:
Metal Roof
Land Size:
Less Than 1/4 Acre
Terms:
Owner Consider 2nd
Property Rights:
Transient License
Listing Office:
At Home in Key West, Inc.
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.