12 Room Key West B&B
Hospitality | 12 Keys | $700,000/key | 8.25% LTM Cap Rate Post Reserves
Marketing description
The property is a 12 key island-style bed & breakfast nestled away in the historic Old Town district of Key West. It is located on a quiet, tree-lined street with comfortable beds, crisp white linens, a temperature-controlled pool, and a homey atmosphere with a sense of calm and tranquility. The property is situated close enough to the vibrant nightlife on Duval Street, while far enough away to ensure a peaceful night's sleep. Walking distance from the Historic Seaport, the property is the perfect starting point to explore everything island paradise has to offer. Guests can walk to Sloppy Joe's, formerly Ernest Hemingway's favorite local watering hole, catch a show at Key West's famed Waterfront Playhouse, Florida's oldest continually running theater group, or visit any one of the city’s famous live act venues, such as the Green Parrot, the first and last bar on US Route 1.
Investment highlights
Potential buyers must provide proof of funds totaling $1 million to access the data room. Seller financing may be available on market terms. The cap rate of 8.25% is based on the actual figures for 2024, including a 4% reserve for furniture, fixtures, and equipment (FF&E) and a 3% management fee. Other key highlights include:
Located in Flood Zone-X (no flood insurance is required by lenders).
All rooms have transient licenses.
All labor is performed by W-2 employees, and staffing includes a full-time innkeeper at market rate.
The current ownership does not provide any labor, making this a turnkey opportunity.
Brokers are welcome to participate!
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