822 Fleming Street, Key West, FL 33040 (MLS# 116023)

822 Fleming Street, Key West, FL 33040

$2,100,000

Property Type: Commercial Lot Size (sq. ft.): 3,936 Status: Closed

Current Price: $2,100,000 List Date: 2/02/2012 Last Modified: 9/09/2024

Overview

Description

Built in 1889 as an opulent single family home with wide verandah porches both street and poolside, this beautiful 11-unit guesthouse has all 11 licenses approved by the City (and paid for) pending the completion of one ADA compliant room, currently under const. Converted to a guesthouse in 1991, and completely renovated in 1996, with a beautiful private pool and spa area framed with a shaded arbor featuring classic tile mosaics and a large breakfast room, the Coral Tree Inn can stand alone. The property can also be purchased with 815-823 Fleming St., the Oasis and Coconut Grove, which would be a total of 47 rooms/suites for $9,950,000. Assumable loan to qualified buyers. Huge upside: increase average occ rt from 41% to avg KW 82%.

Listing Details MLS# 116023

Location, Tax & Legal

Street #: 822
Street Name: Fleming
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unlisted (1.0)
Area: 01 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 0.5
Side: Bay/Gulf
Flood Zone: no
Alternate Key #: 1008559
Bldg Nbr: No
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Legal: KW PT LOT 2 SQR 47 G45-407-408 OR966-574 OR1010-1274 OR1079-796/797 OR1124-629 OR1178-2104/2105C/T O
Taxes: 14575.74
Tax Year: 2011

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: 3936
Waterfront: No
Business Name: Coral Tree Inn
Year Established: 1991-01-01
Building SqFt: 5508
Total Units: 11
Year Built: 1913
# Parking Spaces: No
# Stories: 0
Building Ht. Ft.: 0
Total # Buildings: 0

Status Change Info

Sold Date: 2012-12-28

Association Info

Mandatory Home Owners Asc: No
Association Fee $: 0

Financial Status

Bank Owned: No
Potential Short Sale: No

More Information

Remarks & Misc

Remarks – Consumer: Built in 1889 as an opulent single family home with wide verandah porches both street and poolside, this beautiful 11-unit guesthouse has all 11 licenses approved by the City (and paid for) pending the completion of one ADA compliant room, currently under const. Converted to a guesthouse in 1991, and completely renovated in 1996, with a beautiful private pool and spa area framed with a shaded arbor featuring classic tile mosaics and a large breakfast room, the Coral Tree Inn can stand alone. The property can also be purchased with 815-823 Fleming St., the Oasis and Coconut Grove, which would be a total of 47 rooms/suites for $9,950,000. Assumable loan to qualified buyers. Huge upside: increase average occ rt from 41% to avg KW 82%.
Directions: Mid-block of the 800 block of Fleming St., between William and Margaret Streets, in Old Town Key West

Deed Restrictions

Unknown: Yes

License Info

2-Cop (Beer & Wine): 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

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Terms

Assumable-Qualify: Yes
Owner Consider 2nd: Yes
Seller Finance Psble: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Rights

Beverage License: Yes
Transient License: Yes

Miscellaneous

Fencing: Yes
High Visibility: Yes
Hot Tub: Yes
Lobby: Yes
Manager on Premises: Yes
Patio: Yes
Pool: Yes
Sprinkler System: Yes
Utility Building: Yes

Property Features

Deed Restrictions: Unknown License Info: 2-Cop (Beer & Wine) Type: Hotel/Motel; Other Services Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Miscellaneous: Fencing; High Visibility; Hot Tub; Lobby; Manager on Premises; Patio; Pool; Sprinkler System; Utility Building Construction: Frame Land Size: Less Than 1/4 Acre Terms: Assumable-Qualify; Owner Consider 2nd; Seller Finance Psble Property Rights: Beverage License; 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.

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