323 Petronia Street, Key West, FL 33040 (MLS# 578214)

323 Petronia Street, Key West, FL 33040

$1,570,990

Property Type: Commercial Bedrooms: 5 Baths: 6 Square Footage: 2,889 Lot Size (sq. ft.): 9,476 Status: Closed

Current Price: $1,570,990 List Date: 1/13/2018 Last Modified: 9/09/2024

Overview

Description

A rare opportunity in Old Town in the vibrant Petronia St corridor in the Bahama Village neighborhood. Two parcels & Three buildings: (325) Bldg #1 recently upgraded building with retail fronting on Petronia St along with 7 parking spaces, a 1-bedroom vacation rental upstairs (323) Bldgs #2&3 Identical single story buildings in the rear each containing 2 1-bedroom long-term rentals. Given the location and the 9476 sf lot with parking, these parcels are ripe for redevelopment (with City Planning Board approval) or conversion to vacation rentals. There is space for more commercial on Petronia St and the razing of bldgs #2&3 for 4 units, total of 5 vacation rental complex amidst tropical gardens and pool. Or, simply renovate bldgs #2&3 for long-term or vacation rentals

Supplements: to increase income stream potential. Located in the City's transient receiver zone.

Listing Details MLS# 578214

Location, Tax & Legal

Street #: 323
Street Name: Petronia
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
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 0
Side: Median
Flood Zone: 0.2 PCT ANNUAL CHANC
Alternate Key #: 1013684
Add'l Parcel #1: 1013692 (323)
Parcel #: 00013290-00000&00013300-000000
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Legal: KW LT 11 SQR 1 TR 3 AND PT ADJ VACATED ALLEY and KW LT 12 SQR 1 TR 3
Taxes: 11689
Tax Year: 2017

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
Species List: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 9476
Waterfront: No
# Parking Spaces: 7
Off Street Parking: YES
# Stories: 2
Total # Buildings: 3
Building SqFt: 2889
SqFt Source: Property Data Card
Living Apx SqFt: 2889
Total Units: 6
Year Built: 1978
Total Bedrooms: 5
Full Baths: 6
Total Baths: 6
Control Depth: 0

Status Change Info

Sold Date: 2018-04-02

License Info

# of City License: 6
Non Trans Rntl Lic: Yes
Other/See Remarks: Yes

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0

More Information

Property Info

# Kitchens: 5
# Refrigerators: 5
# Range/Ovens: 5
# Washers: Yes
# Dryers: Yes
1 Bed/Bath: 5
License Included: Yes

Vehicle Storage

Car(s): 4+
Off Street Parking: Yes

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: A rare opportunity in Old Town in the vibrant Petronia St corridor in the Bahama Village neighborhood. Two parcels & Three buildings: (325) Bldg #1 recently upgraded building with retail fronting on Petronia St along with 7 parking spaces, a 1-bedroom vacation rental upstairs (323) Bldgs #2&3 Identical single story buildings in the rear each containing 2 1-bedroom long-term rentals. Given the location and the 9476 sf lot with parking, these parcels are ripe for redevelopment (with City Planning Board approval) or conversion to vacation rentals. There is space for more commercial on Petronia St and the razing of bldgs #2&3 for 4 units, total of 5 vacation rental complex amidst tropical gardens and pool. Or, simply renovate bldgs #2&3 for long-term or vacation rentals
Directions: US1/Truman Ave South to Whitehead Street. Right on Whitehead Street and go 2 blocks to Petronia St. Left on Petronia St and destination in in the middle of the block on the right.

Deed Restrictions

No: Yes

Type

Apartment 3 or more: Yes
Retail: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Accounts & Meters

# Sewer Accounts: 2
# Water Meters: 2
# Electric Meters: 6

Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Cooling

Ceiling Fans(s): Yes
Wall/Window Unit(s): Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Floor

Tile: Yes

Windows/Doors

Aluminum Windows: Yes
Other Windows/Doors: Yes

Construction

CBS: Yes

Land Size

Less Than 1/4 Acre: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Rights

Multi-Use/Commercial: Yes
Tranfrble Comm SqFt: Yes

Miscellaneous

High Traffc Location: Yes
Residence on Premise: Yes
Storage: Yes

Roof

Metal Roof: Yes
Tar/Gravel Roof: Yes

Tenant Paid

Electric: Yes

Property Features

Deed Restrictions: No License Info: Non Trans Rntl Lic; Other/See Remarks Property Info: License Included Type: Apartment 3 or more; Retail Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Appliances: Dryer; Range; Refrigerator; Washer Miscellaneous: High Traffc Location; Residence on Premise; Storage Construction: CBS Floor: Tile Roof: Metal Roof; Tar/Gravel Roof Land Size: Less Than 1/4 Acre Fee Includes: None Tenant Paid: Electric Property Rights: Multi-Use/Commercial; Tranfrble Comm SqFt

Listing Office: Truman & Co. (KW)

Last Updated: September - 09 - 2024

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