commercial real estate: 829 Simonton Street - Key West - Historic Investment Property - 08/31/11 07:25 PM
I distinctly remember going inside the old building at 829 Simonton Street on Superbowl Sunday (January 25, 1987). The place was a sandwich shop called "La Bodega". I had spent the afternoon at Atlantic Shores and wanted to grab a sandwich. The place was near and the food was good. My needs were met. Fast forward 24 years and the building looks pretty much the same.
The unpainted facade looks pretty much today like it did when the two photos below were taken.
829 Simonton Street Key West May 2011
The building was called The Square Deal Market … (1 comments)
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commercial real estate: Beautiful Arts & Crafts Style House - Bank Owned - 830 Simonton Street - Key West - 09/28/10 02:24 PM
This Old House as it looked in 1965 A local bank owns the old house pictured immediately above. The old black and white photo was taken in 1965. Until a couple of months ago this property looked a little worse for wear. The years took their toll. Owners came and went. And then the lender did what lenders do when loans are not repaid as agreed: it foreclosed. But instead of letting a decent asset sit and fester like a lot of Big Banks that are Too Big To Fail do, the local bank did the unthinkable: it fixed it … (1 comments)
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commercial real estate: 529 United Street - Old Town - Key West - 08/07/10 10:02 AM
The quaint little cottage at 529 United Street was just listed by Preferred Properties Coastal Realty, Inc. The listing agent implores the reader to "Think Outside the Box" when exploring the possible uses of this cottage. This is how the agent describes 529 United Street:
"Think outside the box on thischarming 2 bedroom, 2 bath cottage. Legally zoned to house one commercial space and one residential apartment, its all in place. Your location could not be better, just 1/2 block from Duval Street with plenty of street parking available. This cottage is a receiver site for a transient rental license offers … (0 comments)
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commercial real estate: 527 Fleming Street - Old Town - Key West - 05/21/10 08:32 AM
527 Fleming Street - Old Town - Key West
527 Fleming Street in May 2010
527 Fleming Street as it appeared in 1965 Just listed, but not by me, 527 Fleming Street in Old Town Key West. This great house was built circa 1899 according to the Monroe county Tax Appraiser records. Just about every tourist in Key West has passed by this place at least once. It sits across the street from the main Fausto's Food Palace midway between Duval Street and Simonton Street. The imposing house has 3912 sq ft of living space and it sits on … (0 comments)
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commercial real estate: Strip Center - 1200 White Street - Key West - 04/15/10 10:56 AM
1200 White Street Strip Center Key West Florida in 1965
The same strip center in 2010 The strip center shown above is located at 1200-1206 White Street in Key West. Locals know the building by sight. Ugly sight. A sight that needs razed and rebuilt or renovated into something befitting the location. The asking price has been reduced to $999,000. CLICK HERE for more info and photos.This is how the listing Realtor describes this property:
"A rare, mixed use strip center with adjacent parking lot on busy White Street in Key West. There are three commercial units and two … (0 comments)
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commercial real estate: You're Gonna Howl with Laughter at this New Bank Bank Owned Property in Key West - 03/06/10 06:12 AM
From Dale McDonald Collection showing a funeral march through Old town I have written before that in a prior life I did commercial loan workouts for a couple of big national banks in Denver. Part of my job responsibilities included the sale of bank owned properties. I got pretty good at doing my job. I tried to get the last nickle out of every deal, but I knew that when I had a problem property I had to sell it and get rid of it. I only "fell in love" with a couple of properties that I refused to sell at … (1 comments)
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commercial real estate: Run Away to Paradise! It is now Bank Owned! - 09/02/09 03:27 PM
Back on April 15th I suggested that some buyer ought to buy the little sandwhich shop at 811 Fleming Street. CLICK HERE to read what I wrote then. That deal is gone. The former Paradise Cafe located at 1000 Eaton Street in Key West, Florida is now Bank Owned. It is offered for sale at $750,000. The purchase price includes the 1491 sq. ft. building that sits on the 4020 sq.ft. lot at the busy intersection at the corner of Grinnell and Eaton Streets. (The parking lot has ten parking spots.) Also included is the signage and the kitchen equipment in … (1 comments)
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commercial real estate: The Key West Bank Dick - Part Two - 05/20/09 10:25 AM
I've complained before that the Key West Association of Realtors mls database does not automatically show bank owned properties. Some Realtors believe that lender-owners do not want to disclose to the public that a bank owns a piece of property. I guess that is possible, but having worked in the Special Assets division of two banks, I know that we advertised we were selling bank foreclosures. There is a segment of the market that wants to buy bank foreclosures: they think they are going to get a deal. They have watched those late night infomercials on how to buy real estate … (0 comments)
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commercial real estate: Big Bad George - 04/23/09 11:13 AM
I'm not going after the former President! Last week I urged my readers to quit their jobs, move to Key West, and become an "I used to be" by purchasing a great little property at 811 Fleming Street (CLICK HERE). That property went under contract on Wednesday, so you are outta luck on that one. But, fear not, there is another opportunity awaiting some sharpie with an athletic background, or a resauranteur, or maybe just someone with a good business acumen. I'm talking about the new listing at 19269 Bad George Road on Sugarloaf Key. CLICK HERE. This is a Preferred … (0 comments)
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commercial real estate: Invest in Key West - 03/02/09 10:42 AM
The stock market is probably going to go ape today with word that the United States is going to give AIG another $30 BILLION. Markets in Asia have already burped real bad. The financial news keeps feeding the hysteria and gives credence to the prophets of doom and gloom. Thirty years ago as we were emerging from our nightmare over South Viet Nam, the ouster of Richard Nixon from the White House, sky rocketing oil prices, inflation, deflation, and stagnation, the county went through a similar economic downturn. What we did not have at that time was 24-hour-a-day news channels and … (0 comments)
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commercial real estate: Bank Owned Properties - Key West - 01/13/09 01:27 PM
It's that time again to list the current single family houses and multi-units that are bank owned and offered for sale. CLICK HERE to checkout the current inventory. If you have been following my little blog for some time,you will note that some of the properties are no longer available. Some actually get sold. Some sales take forever to occur, and others can occur very quickly. You may see that several of the properties have had the asking prices reduced. Some buyers mistakenly think banks are so over-whelmed with the inventory of foreclosed homes that the banks are aching for offers … (0 comments)
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commercial real estate: Key West - Bank Owned - Properties - 12/11/08 01:37 PM
Believe it or not, there are a couple of pretty nice single family houses that are BANK OWNED and that are now available. CLICK HERE to checkout the properties. (There are a couple of multi-family included because I'm too lazy to do a separate list.) Please take a few minutes and go through the list. There are properties in all Key West locations and in low to moderate price ranges. If you are looking for a house with a pool, do not skip a property because you do not see a photo of a pool. You need to read the comments … (0 comments)
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commercial real estate: Key West Bank Foreclosures -- déjà vu All Over Again - 10/17/08 09:25 AM
It seems like it was only last week that I created a list of current bank owned properties in the Key West area. Well, it actually was last week. There have been a couple of changes so I thought it best to update the list. CLICK HERE to see the new list of single family homes. Some of the houses in the above list have pools or are located on canals. A couple of the houses are really very nice and are priced aggressively to sell. A couple of the houses owned by local banks in Key West may even qualify … (1 comments)
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commercial real estate: The Curry House - Key West - For Sale - 08/29/08 09:50 AM
Just Listed: The Curry House Key West. No, not The Curry Mansion. The names sound similar, but the inns are quite different. CLICK HERE to read all about the historic Curry Mansion. It is located just off Duval on Caroline Street near one of the loudest locations in Old Town. The Curry House, on the other hand, is located just far enough from Duval at 806 Fleming Street to be convenient, but not burdened by the noise and commotion. CLICK HERE to view the website of The Curry House. This is how the listing realtor describes this listing. "Boasting classic Old … (0 comments)
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commercial real estate: 601 Caroline Street Key West -- Guest House for Sale - 05/10/08 09:53 AM
Got a few hundred thousand dollars laying around earning only 2% interest or so? Are you as afraid of the stock market as I am? Does the rotten economy scare the beejeezus out of you? Ever since I made my first trip to Key West many years ago I noticed there were always several guest houses for sale. I started looking at the properties for sale and gathered the financial statements so that I could compare income and expenses to see which of the properties looked the most promising. Of course, I always wanted to buy the prettiest property or the … (1 comments)
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commercial real estate: Huge Price Reduction -- 421 Simonton Street Key West -- Commercial - 03/11/08 09:41 AM
The asking price just got a lot better on 421-423 Simonton Street in the very heart of Old Town Key West. This property is the ugliest of ducks in Old Town. But the location is just about as good as it gets. The property is ripe for renovation and the new asking price makes that prospect of renovation more realistic. 421 Simonton was originally listed in April 2006 at $2,299,999. It didn't sell, and the price has been sporadically reduced on March 4th. The new price is $1,350,000. This is what you get for the money: 3766 sq ft building on … (0 comments)
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commercial real estate: 630 Eaton Street, Old Town, Key West, Fl--Commercial - 01/15/08 11:46 AM
Development Opportunity. Four years ago this property would have been sold the first day or so it was on the market because of the Location and Development Opportunity associated with this large property. 630 Eaton Street sits on a lot totaling 7898 sq ft on the corner of Eaton & Elizabeth in heart of Old Town. Just two blocks off Duval St. Main building is 4,750 sq ft wooden structure with 7 residential apartments. There is an additional 237 sq ft building fronting Eaton St. (A studio apartment.) Lot coverage & Floor Area Ratio (FAR) are within current limits for HNC-2 … (0 comments)
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