243 61 St Street Gulf Street is a $6,290,000, 4,461 square foot, 13 bedroom, 14.0 bath home on a 0.56 acre lot located in Marathon, FL.
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.
| Appliances | Dishwasher Microwave Electrostatic Air Filter |
| Interior Features | Water Softener (owned) Breakfast Bar/Counter Man Made Wood or Laminate Flooring Pantry Entry Foyer Tub With Jets |
| Cooling Types | Window Unit |
| Parking Types | 5 Car 6 or More > 3 Car |
| Exterior Features | Deck - Cedar/Redwood Porch - Concrete Covered Porch - Concrete Glass Encl Dock Facilities Service Entrance Block Smart Irrigation System VEER CITYCENTER |
| Views | None No View |
| Roof | Built-Up Tile |
| Construction Types | Asphalt Brick Cedar Composition |
| Land Type | Condominium Timber Prod Hillside Oceanfront |
| Sewer | Septic-Existing |
| Property Type | Commercial |
| Property Sub Type | Full Service |
| Style | Style 50 Style 53 |
| Year Built | 1954 |
| HOA Fee | $0.00 |
| Taxes | $19,706.00 |
| County | monroe |
| Neighborhood | Marathon Heights (50.5) |
| Financial Terms | MH/Land Package on CONV Substitution of Eligibility Institution Owned Property |
Based on information from Florida Keys MLS, last updated 09/17/2024 at 10:31pm EDT. Listing 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. Information deemed reliable but not guaranteed by the MLS or this website.
