425 Ocean Drive E
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 |
| daysOnMarket: | 48 |
| 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 |
