$6,975,000

243 61St Street Gulf Street, Marathon, FL 33050, US

Summary

Bedrooms: 13
Full Baths: 13
Half Baths: 1
Style: Hotel/Motel
Year Built: 1954

Moving Quotes

primary photo for 243 61St Street Gulf Street, Marathon, FL 33050, US

Remarks

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
Price: $6,975,000

Style: Hotel/Motel
Bedrooms: 13
Baths Full: 13
Baths Half: 1
Year Built: 1954

County: Monroe
Subdivision: Marathon Heights (50.5)
Lot Size: 24,384
Tax Fee: 19706.11

Share With Friend






Cancel

Ask a Question







Cancel

Request More Photos







Cancel

Schedule a Showing








Cancel
  • Photo 1
  • Photo 2
  • Photo 3
  • Photo 4
  • Photo 5
  • Photo 6
  • Photo 7
  • Photo 8
  • Photo 9
  • Photo 10
  • Photo 11
  • Photo 12
  • Photo 13
  • Photo 14
  • Photo 15
  • Photo 16
  • Photo 17
  • Photo 18
  • Photo 19
  • Photo 20
  • Photo 21
  • Photo 22
  • Photo 23
  • Photo 24
  • Photo 25
  • Photo 26
  • Photo 27
  • Photo 28
  • Photo 29
  • Photo 30
  • Photo 31
  • Photo 32
  • Photo 33
  • Photo 34
  • Photo 35
  • Photo 36
  • Photo 37
  • Photo 38
  • Photo 39
  • Photo 40
  • Photo 41
  • Photo 42
  • Photo 43
  • Photo 44
  • Photo 45
  • Photo 46
  • Photo 47
  • Photo 48
  • Photo 49
  • Photo 50
  • Photo 51
  • Photo 52
  • Photo 53
  • Photo 54
  • Photo 55
  • Photo 56
  • Photo 57
  • Photo 58
  • Photo 59
  • Photo 60
  • Photo 61
  • Photo 62
  • Photo 63
  • Photo 64
  • Photo 65
  • Photo 66
  • Photo 67
  • Photo 68
  • Photo 69
  • Photo 70
  • Photo 71
  • Photo 72
  • Photo 73
  • Photo 74

Broker Contact

RE/MAX Keys Connection (KW)
517 DUVAL STREET SUITE 200
Key West, FL, 33040
US
! (305) 296-1400
! cskomp@remax.net
! Website

Information is believed to be accurate but should not be relied upon without verification.
Data Provided by Key West Association of Realtors
Last updated: 2024-03-15T14:25:09.000-04:00.
Privacy Policy