425 Ocean Drive E

  • $$8,955,000
    • Closed
    • Address:
      425 Ocean Drive E
      KEY COLONY, Florida 33051
    • Property Type:
    • Location:
    • Beds: 3
    • Baths: 4
    • Sq Ft: 5,546

This is a money-making, membership-only swim, and beach club with very limited competition in the area. Located in Marathon, the boating and fishing heart of the Florida Keys, the property has 137 feet of private white sandy beach overlooking the Atlantic Ocean. A 65′ x 35′ zero edge, in-ground, concrete pool is the centerpiece of the property. The pool is temperature-controlled with a waterfall and a separate heated spa. The club features a relaxing waterfront restaurant and full service bar for the club members only. All furniture, fixtures, and equipment is included in the sale of the property. Gross income is over $1.5 million per year and the 2021 adjusted net income with all owner benefits approx. $950,000/ yr. There are two apartments, a gorgeous oceanfront 2bd/2ba second floor owner’s apartment with private waterfront deck overlooking the Ocean and a ground floor efficiency apartment.

Price:$$8,955,000
Address:425 Ocean Drive E
City:KEY COLONY
State:Florida
Zip Code:33051
Subdivision:Key Colony Beach (53.5)
MLS:599775
Year Built:1957
Square Feet:5,546
Bedrooms:3
Bathrooms:4
appliancesOther:YES
area:17 - Vaca Cut - Both Sides Holiday Inn/Key Colony
associationInfo1stRightOfRefusal:no
associationInfoHOA:no
bankOwned:no
businessName:Cabana Club
construction:Concrete
dockage:None
feeIncludes:Other
financialStatusBankOwned:no
financialStatusPotentialShortSale:no
floodZone:AE,VE,AE,VE,AE
forSaleLease:For Sale
keyIsland:Key Colony
landSize:1/2 - Less Than 1 AC
legal:BK 6 PT LT 12 AND PT LT 13 AND 13A KEY COLONY BEACH PB3-120 SHELTER KEY OR515-802 OR797-369 OR796-1754/55 OR1403-951/52T
lotSize:26100
lotSqft:26100
mileMarker:53.5
netLeasableArea:5546
numStories:2
offShoreIsland:no
offStreetParking:yes
parcelNum:00073970-000000
potentialShortSale:no
side:Ocean
style:Commercial
taxYear:2021
taxes:18781.02
type2:Other Services,Restaurant
utilities:FKAA, Municipal Sewer
waterfront:yes
waterfrontType:Oceanfront
waterview:Ocean View
yearEstablished:1971-12-31
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