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Speakeasy Inn 1117 Duval St 7 Room Bed and Breakfast Key West, FL 33040 $9,950,000 ($1,421,429/Room)
Investment Highlights
- Well Established Turn-key Inn
- Recently updated rooms
- Prime Location on Busy Duval Street
- Top Guest Reviews on Google & TripAdvisor
Executive Summary
Historic Key West Boutique Inn on Duval Street | 7 Licensed Transient Accommodations.
A rare opportunity to acquire one of Key West's most iconic hospitality properties, ideally positioned on world-famous Duval Street in the heart of Old Town. The offering includes the real estate and lodging operation of the renowned Speakeasy Inn, featuring seven licensed transient accommodations and a rich history deeply woven into the fabric of Key West's colorful past. Originally owned by legendary rum-runner Raul Vasquez during the Prohibition Era, the property served as a hub for the importation of spirits from Cuba into Key West. The home remains one of only a handful of residences in Key West with a basement, historically utilized to conceal smuggled rum during the 1920s and early 1930s. Distinctive architectural details, including the property's famous Cuban-imported porch balustrades depicting liquor bottles and playing-card symbols, stand today as enduring reminders of its fascinating past.
Over the past several years, ownership has undertaken an extensive renovation program throughout the inn. All guest accommodations have been thoughtfully updated with new bathrooms, furnishings, interior and exterior paint, modern mini-split air conditioning systems, and significant capital improvements including a new roof and gutter system completed within the past three years. The result is a turnkey boutique lodging property that seamlessly blends historic Key West character with contemporary guest expectations.
Located steps from the Southernmost Point, beaches, galleries, restaurants, and nightlife, the property enjoys exceptional year-round tourism demand and benefits from valuable transient licensing in one of Florida's most supply-constrained lodging markets.
As an additional benefit to investors, ownership intends to retain and operate the highly successful Rum Bar located on the ground floor.
A rare opportunity to acquire one of Key West's most iconic hospitality properties, ideally positioned on world-famous Duval Street in the heart of Old Town. The offering includes the real estate and lodging operation of the renowned Speakeasy Inn, featuring seven licensed transient accommodations and a rich history deeply woven into the fabric of Key West's colorful past. Originally owned by legendary rum-runner Raul Vasquez during the Prohibition Era, the property served as a hub for the importation of spirits from Cuba into Key West. The home remains one of only a handful of residences in Key West with a basement, historically utilized to conceal smuggled rum during the 1920s and early 1930s. Distinctive architectural details, including the property's famous Cuban-imported porch balustrades depicting liquor bottles and playing-card symbols, stand today as enduring reminders of its fascinating past.
Over the past several years, ownership has undertaken an extensive renovation program throughout the inn. All guest accommodations have been thoughtfully updated with new bathrooms, furnishings, interior and exterior paint, modern mini-split air conditioning systems, and significant capital improvements including a new roof and gutter system completed within the past three years. The result is a turnkey boutique lodging property that seamlessly blends historic Key West character with contemporary guest expectations.
Located steps from the Southernmost Point, beaches, galleries, restaurants, and nightlife, the property enjoys exceptional year-round tourism demand and benefits from valuable transient licensing in one of Florida's most supply-constrained lodging markets.
As an additional benefit to investors, ownership intends to retain and operate the highly successful Rum Bar located on the ground floor.
Property Facts
| Price | $9,950,000 | Lot Size | 0.08 AC |
| Price Per Room | $1,421,429 | Building Size | 3,109 SF |
| Sale Type | Investment | No. Rooms | 7 |
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Bed and Breakfast | Year Built | 1943 |
| Building Class | C | Corridor | Exterior |
| Zoning | HRCC3 - HRCC(3) | ||
| Price | $9,950,000 |
| Price Per Room | $1,421,429 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Bed and Breakfast |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,109 SF |
| No. Rooms | 7 |
| No. Stories | 2 |
| Year Built | 1943 |
| Corridor | Exterior |
| Zoning | HRCC3 - HRCC(3) |
Amenities
- On-Site Bar
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 7 | $302.00 | - |
1 1
Exceptionally walkable
90/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 00027850-000000 | Improvements Assessment | $2,632,117 |
| Land Assessment | $3,217,032 | Total Assessment | $5,849,149 |
Property Taxes
Parcel Number
00027850-000000
Land Assessment
$3,217,032
Improvements Assessment
$2,632,117
Total Assessment
$5,849,149
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Speakeasy Inn | 1117 Duval St