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$7,500,000
Key West, FL 33040
MLS# 603962
4 baths | 7854 sqft
1 / 21
Property Description
Prime Trophy Investment Property in the heart of Duval St. The Coach Retail Building is a once in a lifetime opportunity! Coach is a very strong, long term NNN retail tenant. Upstairs are 6 professional offices. Combined all tenants provide consistent income with minimal owner management. Property has been in the same family ownership since the 1940's and the first time listed for sale. 2 story concrete Building is in excellent condition and well maintained. Valuable large parking lot in rear is 518 Bahama St. Room for 10 + cars plus dumpster and loading area. Both lots total 9,068 sf. Gorgeous Coach retail store occupies the entire ground floor with 51' of Duval St. frontage. Occupies a total approx. 3,937 sf. Coach have been great tenants in the building since 1998 and have a long term, NNN lease. 2nd floor is 3,937 sf. with 6 individual offices. Upstairs tenants on gross leases & each has own electric meter. Also a storage room & individual Men & Woman's bathrooms. Extensive list of Building repairs and recent renovations available includ. new impact resistant doors and windows & awning replaced on entire first floor storefront, rebuild rear stairwell, recoat roof, and stormwater disposal well in lot plus many others. Property sits in the 500 Block of Duval St., an X flood zone. Thousands of tourists and locals walk by & drive by daily. Neighboring business include Margaritaville, Banana Republic, Kilwin's Fudge, Jack Flats, Gap, CVS & Walgreens, San Carlos Institute and more. Perfect for a1031 Exchange and/ or long term investor.
Details
Maps
Contract Information
Current Price: $7,500,000
Listing Date: 2023-01-26
Listing Board: Key West Association
List Price: $7,500,000
Limitd Reprsntation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Species List: No
Location, Tax & Legal
Street #: 517 Duval
Street Name: & 518 Bahama
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Off Shore Island: No
Subdivision: Old Town - Unrecord (1.0)
Mile Marker: 1
County: Monroe
Area: 01 - Key West
KW Neighborhood: Old Town-S of Truman
Marathon Neighborhood: N/A
Side: N/A
Flood Zone: X
Alternate Key #: 1009881
Add'l Parcel #1: 00009620-000000
Add'l Parcel #2: 00009630-000000
Parcel #: 00009620-000000
Bldg Nbr: 517
Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl
Legal: KW PT LOTS 3&4 SQR 50 E2-452 H2-544 OR35-299 OR121-449/51 OR297-98/99 OR325-39/40 OR561-946 OR608-721/22 OR686-3 OR768-6
Taxes: 32704
Tax Year: 2022
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 9068
Lot SqFt: 9068
Waterfront: No
Year Established: 1932-12-31
# Parking Spaces: 10+
Off Street Parking: yes
# Stories: 2
Total # Buildings: 1
Building SqFt: 7854
SqFt Source: Property Data Card
Living Apx SqFt: 7854
Total Units: 7
Year Built: 1933
Half Baths: 4
Total Baths: 4
Remarks & Misc
Remarks – Consumer: Prime Trophy Investment Property in the heart of Duval St. The Coach Retail Building is a once in a lifetime opportunity! Coach is a very strong, long term NNN retail tenant. Upstairs are 6 professional offices. Combined all tenants provide consistent income with minimal owner management. Property has been in the same family ownership since the 1940's and the first time listed for sale. 2 story concrete Building is in excellent condition and well maintained. Valuable large parking lot in rear is 518 Bahama St. Room for 10 + cars plus dumpster and loading area. Both lots total 9,068 sf.
Gorgeous Coach retail store occupies the entire ground floor with 51' of Duval St. frontage. Occupies a total approx. 3,937 sf. Coach have been great tenants in the building since 1998 and have a long term, NNN lease. 2nd floor is 3,937 sf. with 6 individual offices. Upstairs tenants on gross leases & each has own electric meter. Also a storage room & individual Men & Woman's bathrooms.
Extensive list of Building repairs and recent renovations available includ. new impact resistant doors and windows & awning replaced on entire first floor storefront, rebuild rear stairwell, recoat roof, and stormwater disposal well in lot plus many others.
Property sits in the 500 Block of Duval St., an X flood zone. Thousands of tourists and locals walk by & drive by daily. Neighboring business include Margaritaville, Banana Republic, Kilwin's Fudge, Jack Flats, Gap, CVS & Walgreens, San Carlos Institute and more.
Perfect for a1031 Exchange and/ or long term investor.
Directions: 500 Block of Duval St. between Southard and Fleming Streets
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Accounts & Meters
# Sewer Accounts: 1
# Water Meters: 1
# Electric Meters: 7
Auction Info
Auction: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Property Features
Deed Restrictions: No
License Info: Other/See Remarks
Type: Office Buildings; Professional Service; Retail
Waterview: No Waterview
Dockage: None
Vehicle Storage: Assigned Parking; Off Street Parking
Cooling: Central Air; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Entrance Foyer
Appliances: No Appliances
Miscellaneous: High Traffc Location; High Visibility; Manager on Premises; Storage
Construction: Concrete
Electric: 220 Volt
Windows/Doors: Impact Rstnce Window; Other Windows/Doors
Shutters: Accordion
Floor: Other
Roof: Other Roof
Land Size: More than 1 Lot
Fee Includes: Other
Terms: No Seller Finance
Title: Negotiable
Tenant Paid: Cable; Electric; Garbage; Insurance; Taxes
Listing Office: RE/MAX Keys Connection (KW)
Last Updated: March - 16 - 2023
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