124 Duval Street

Key West, FL 33040 / Old Town - Unlisted (1.0)

MLS ID# 599036 Closed
Commercial

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Closed $6,800,000

0.08 acres

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• Description
• Location, Tax & Legal
• General Property Description
• Details

Description

Old Town, Circa late 1800's Historically recognized Building, Mixed Commercial Use property. Lower prime 100 block of Duval Street, owner-operated Bar & Guesthouse operation...plus... separate cafe & franchised ice cream store leasehold rental income stream. Operated as the infamous SMALLEST BAR IN KEY WEST & the SMALLEST BAR INN. - - The guesthouse with a 40+ year track record, operates with (5) licensed transient units, one of which is sized as a large two bedroom, two bath unit. - - The long established bar operation with a 22 year track record, does extremely well tucked into an alley way, set back just 20' from the sidewalk creating its charm & fame. A Google search of the SMALLEST BAR IN KEY WEST will best describe its notoriety .....The combination of transient units with the bar operation generates a significant gross income for its overall size. Additionally, both the 40 seat cafe and street side ice cream parlor leaseholds, generate an additional $100,000+, steady annual income. - - Located on Lower Duval Street, half a block down from Sloppy Joe's & Captain Tony's Saloon; dead center within the high pedestrian traffic flow of the famed Key West Entertainment District. Short walk for arriving cruise ship passengers & the late afternoon Mallory Square Sunset revelers. - - The bar serves full alcohol & package under a valuable 5-Cop (S) Liquor License available only to the limited number of Inns operating within an Historic Structure. Bar income tied to a % of room sales. License is renewable annually with the State for a reasonable fee & and must remain with the property upon a sale. - - The small size of the overall operation requires very few employees.- - - Perfect mixed use property for an Owner/ Operator desiring an established bar & guesthouse business, with two additional commercial lease revenues. Old Town, Circa late 1800's Historically recognized Building, Mixed Commercial Use property. Lower prime 100 block of Duval Street, owner-operated Bar & Guesthouse operation...plus... separate cafe & franchised ice cream store leasehold rental inc... show more

Location, Tax & Legal

• Street # 124
• Street Name Duval
• Street Suffix Street
• Key/Island Key West
• City KEY WEST
• State/Province FL
• Zip Code 33040
• Off Shore Island No
• Subdivision Old Town - Unlisted (1.0)
• Mile Marker 1
• County Monroe
• Area 02 - Key West
• KW Neighborhood Old Town-N of Truman
• Marathon Neighborhood N/A
• Side N/A
• Flood Zone AE
• Alternate Key # 1000566
• Parcel # 00000570-000000
• Zoning HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl
• Legal KW PT LOT 2 SQR 8 G13-252 OR546-980 OR871-1405/06 OR871-1407/08 OR871-1409 OR1190-2420/21 OR2584-392/94 OR2587-2046/47C
• Taxes 19213.8
• Tax Year 2021

General Property Description

• Realtor.COM Type Commercial
• Style Commercial
• Lot Size 36' x 100'
• Lot SqFt 3534
• Waterfront No
• Control Depth 0
• Business Name Smallest Bar Inn
• Year Established 1989-12-31
• # Parking Spaces 0
• Off Street Parking 0
• # Stories 2
• Total # Buildings 2
• Building SqFt 3489
• SqFt Source Tax Records
• Net Leasable Area 3489
• Total Units 0
• Year Built 1933
• Total Bedrooms 0
• Full Baths 0
• Half Baths 0
• Total Baths 0

Details

• Deed Restrictions

  No

• License Info

  # of Transient Licns:5, SRX (Non-Transferab)

• Association Info

  No Mandatory Home Owners Asc, No Voluntary Home Owners Asc, No 1st Right of Refusal, No Assoc Approval Req

• Accounts & Meters

  # Water Meters:2, # Electric Meters:8

• Property Info

  License Included

• Type

  Apartment 3 or more, Hotel/Motel, Restaurant

• Waterfront

  None

• Waterview

  No Waterview

• Dockage

  None

• Cooling

  Ceiling Fans(s), Heat Pump

• Utilities

  FKAA, Municipal Sewer, Separate Meters

• Interior Features

  Furnished, Smoke Alarms, Wet Bar

• Appliances

  Other:under counter refrig

• Construction

  Frame

• Roof

  Metal Roof, Shingle Roof

• Land Size

  None

• Fee Includes

  None

• Terms

  No Seller Finance

• Show

  LA Must Accompany, No Sign on Property, Tenant Occupied

• Property Rights

  Beverage License, Multi-Use/Commercial, Transient License

• Financial Status

  No Bank Owned, No Potential Short Sale