243 61st Street Gulf
- Income producing Hotel in Marathon. Tropical Cottages is a boutique & profitable Mom and Pop Motel.
- Total of 11 valuable Transient Licenses, 13 Rooms plus office with kitchen & check in room.
- 9 buildings on the property, 8 adorable free standing cottages with new Victorian shingle roofs & the main building with 3 rooms in good condition.
- Each room has been tastefully and tropically renovated inside and out. Each room is unique & comes fully furnished.
- Most of the units have small kitchenettes including sink with microwave and refrigerator.
- All units have refrigerator & microwave.
- Additionally, there is a large Tiki Hut & Bar along with Food Truck with seating area. The Food Truck and Tiki Bar are leased for $6,375 per mos on a short term agreement.
- The Motel is managed by Owners . The hotel runs on auto-pilot. Online check-in available with a good housekeeping staff as back up.
- Most of the business is from repeat customers, plus online booking sites are all utilized.
- On site is a full laundry room with Commercial grade washers/dryers and storage rooms throughout.
- All housekeeping is done on site. Small, 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.
- 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.
- Motel generates substantial Net income year after year to current owners.
- Sellers may consider Seller Financing may be available to a qualified buyer. Terms to be negotiated
Property Description
A rare and unique income producing Hotel in Marathon. Tropical Cottages is a boutique & profitable Mom and Pop Motel. Total of 11 valuable Transient Licenses, 13 Rooms plus office with kitchen & check in room. 9 buildings on the property, 8 adorable free standing cottages with new Victorian shingle roofs & the main building with 3 rooms in good condition. Each room has been tastefully and tropically renovated inside and out. Each room is unique & comes fully furnished. Most of the units have small kitchenettes including sink with microwave and refrigerator. All units have refrigerator & microwave. Additionally, there is a large Tiki Hut & Bar along with Food Truck with seating area. The Food Truck and Tiki Bar are leased for $6,375 per mos on a short term agreement. The Motel is managed by Owners . The hotel runs on auto-pilot. Online check-in available with a good housekeeping staff as back up. Most of the business is from repeat customers, plus online booking sites are all utilized. On site is a full laundry room with Commercial grade washers/dryers and storage rooms throughout. All housekeeping is done on site. Small, 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. 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. Motel generates substantial Net income year after year to current owners. Sellers may consider Seller Financing may be available to a qualified buyer. Terms to be negotiated
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Hospitality |
| Price: | $5,900,000 |
| No. of Units: | 10 |
| Year Built: | 1964 |
| Lot Size: | 0.56 Acres |
| Opportunity Zone: | No |
| Price per unit: | $590,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
3983 Destination Dr #102 & #202
Osprey, Florida
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout