849 1241 STREET $999,000

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    849 1241 STREET CEDAR KEY, FL 32625

    • 3,926 sq. ft.
    • 0.57 Acres
    • Commercial
    • MLS# OM615843
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    Views: 22 Days On Site: 151

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    Property Details

    Cedar Key???s Best Prime Location for Redevelopment or Motel/Hotel Use. Boutique Gulf Front Motel with nightly sunsets. Own a piece of paradise! Faraway Inn is located near shopping, the city boat ramp, grocery store and your eating pleasure. There are four separate cottages, one building with four studio size rooms and the other building with four efficiencies and a cottage size room attached, totaling 12 units. The property is zoned motel/hotel and is located at the corner of G and on 3rd Street in the historic homes area. Faraway Inn is a once in a lifetime opportunity to purchase the best redevelopment prime location in Florida. The property is half of a city block with ten city lots measuring 25??? x 100??? with 100 feet facing open Gulf and 100 feet facing the historic area of homes. For a re-development purposes, the G Street 100???x100??? lots on open water could possibly be turned toward to allow for the highest and best use. The 100???x100??? lots on F street could possibly be turned to face the historic homes on F Street for their highest and best use. Cedar Key is known for its Art Show, Seafood and Pirates Festivals. We live in Florida???s ???Mayberry???, it???s old Florida at its best. Faraway Inn has a small beach across the street from the motel which allows for you to kayak or just sit in the sand and make sand castles. The University of Florida/ IFAS has just built the nature coast biological station located here and rents the Seahorse island where many of persons and professors come and study there. Cedar Key has become the largest producer of little neck clams in the country and has grown into a multimillion-dollar industry on the island. Faraway Inn was built in 1950, has a history of many repeat clients and has been open for business for seven decades. Due to the facts that the University of Florida, the clamming industry and with everyone be moving to Florida and rural America, Cedar Key and this property especially, is the perfect place to invest in.

    • General Features
      • Property Subtype Hotel/Motel
      • Additional Parcels Y/N false
      • Additional Water Information Open Gulf of Mexico with fabulous nightly sunsets. Small beach across the street form motel. Beach is owned by Faraway Inn, Inc that is separate from motel.
      • Adjoining Property Residential
      • Business Type Commercial,Hotel/Motel
      • Community Features Beach Area
      • County Or Parish Levy
      • Disclosures Other
      • New Construction Y/N false
      • Pets Allowed Dogs OK
      • Special Listing Conditions None
      • Subdivision Name FARAWAY INN, LLC
      • Tax Annual Amount 13130
      • Year Built 1950
      • Complex Development Name Faraway Inn
    • Building Features
      • Ceiling Type Drywall
      • Construction Materials Block, Wood Frame, Wood Siding
      • Cooling Central Air
      • Building Area Total 4142
      • Appliances Microwave, Refrigerator
      • Building Area Source Appraiser
      • Flooring Carpet, Ceramic Tile, Vinyl
      • Foundation Details Slab
      • Heating Central, Electric, Heat Pump, Wall Units / Window Unit
      • Parking Features 13 to 18 Spaces, Curb Parking
      • Living Area 3,926
      • Roof Metal
    • Property Features
      • Lot Features Corner Lot, FloodZone, Historic District, City Limits, Street Lights, Paved, Waterfront
      • Lot Size Acres 0.57
      • Lot Size Dimensions 100 x 1000
      • Lot Size Square Feet 100000
      • Road Frontage Ft 1200
      • Total Acreage 1/2 to less than 1
      • Vegetation Wooded, Trees/Landscaped
      • Total Num Buildings 6
      • Road Frontage Type City Street
      • Water Frontage Feet Gulf Ocean 100
      • Water View Gulf/Ocean - Full
      • Water Access Gulf/Ocean
      • Water Access Y/N Yes
      • Water Body Name GULF OF MEXICO
      • Water Extras Y/N No
      • Water View Y/N Yes
      • Waterfront Features Gulf/Ocean
      • Waterfront Feet Total 100
      • Waterfront Y/N true

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    Neighborhood

    32625 (CEDAR KEY) Demographics

    49 Median Age
    18 Population Density (per sq. mile)
    37% College Educated
    $33,990 Estimated Median Income
    511 Estimated Total Home Owners
    144 Estimated Total Renters
    78% / 22% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    1,565 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    2 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $999,000 -16.75%
        2/26/2021 11:32:00 AM New in Database Source: Multiple Listing Service New Value: $1,200,000

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        Listing information provided in part by the IDX Program of My Florida Regional MLS DBA Stellar MLS. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Data last updated on 7/26/2021 11:00:19 PM.

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.