$1563.55 Per Sq Foot $37,443 est/mo Sourced by Back At You

243 61st Street Gulf Street,Marathon, FL 33050

Marathon FL, 33050

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Description

A rare and unique income producing Hotel in Marathon. Tropical Cottages is a boutique & very profitable Mom and Pop Motel. Total of 11 valuable Transient Licenses, 13 Rooms plus office with kitchen & check in room. There are 9 buildings on the property, 8 adorable free standing cottages and the main building with 3 rooms. Each room has been tastefully and tropically renovated inside and out. Each room is unique and comes fully furnished. Most of the units have small kitchenettes including sink with microwave and refrigerator. All units have refrigerator & microwave. Each of the cottages have shiny new Victorian shingle roofs. Additionally, there is a large Tiki Hut & Bar along with Food Truck with seating area. The Food Truck is leased for $5,000 per mos. and the Tiki Bar operations are owner operated. Both add to income and a great amenity for the guests. On site is a full laundry room with Commercial grade washers/dryers and storage rooms throughout. All housekeeping is done on site. Small but friendly efficient staff has been there long term and willing to stay on with new owners. There are a total of 6 lots encompassing over 1/2 acre of land, total .56 Ac or 24,384 sf. There is ample off street parking for guests. Zoning is GC and land use is recognized as Hotel/Motel. Bonus of Deeded waterfront access at the end of 61st St. which has a boat ramp and staging area for all types of watercrafts and sports. Same family ownership since 2010. Tropical Cottages was started back in the mid 1950's as a Fish camp and is one of the few remaining Mom & Pop Motels throughout the Florida Keys. Priced at just over 7% cap rate. Motel generates substantial Net income year after year to current owners. Sellers may consider Seller Financing to a qualified buyer and must have 40%-50% or more down payment. Terms to be negotiated.

Details

MLS#609079
Listing TypeFor Sale
Building NameTropical Cottages
Sub-TypeResale
StatusActive
Year1954
Days On Site76
Listing Provided ByRE/MAX Keys Connection (KW) | Curtis A Skomp, CCIM

Features

Bed(s)13
Bath(s) 14 Total
SQ Feet4,461
Story(s)1
Units11
Building(s)9
ZoningMU - Mixed Use
Acreage0.56

Market Activity 33050

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Florida Keys Board of Realtors.

The data relating to real estate for sale on this web site come s in part from the Internet Data Exchange program of the Marathon and Lower Keys Association of REALTORS®, Inc. MLS. Real Estate listings held by brokerage firms other than Coldwell Banker Schmitt are marked with the MLS logo and detailed information about them includes the name of the listing broker’s office.

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Listings Checked: 7 minutes ago
StateFL
CountyMonroe
CityMarathon
Zip Code33050
Area15 Sombrero Bch Rd to Vaca Cut Gulfside
Community NameMarathon Heights (50.5)
Listing VS Median (in Marathon Heights (50.5))
Price:
$6,975,000
low | high
Med:
$6,975,000
50% of Average
SqFt:
4,461
low | high
Med:
4,461
50% of Average
$ / SqFt:
$1,564
low | high
Med:
$1,564
50% of Average
On Site:
76
low | high
Med:
76.000000
100% of Average
Sourced by Back At You
Listing Updated: April 12, 2024 at 5:34:09 PM PDT