243 61st Street, Marathon, FL 33050

New Listing
$5,900,000
Property Type: Commercial Sale Bedrooms: 13 Baths: 13 Square Footage: 4,557 Lot Size (sq. ft.): 24,384 Status: Active
Current Price: $5,900,000 List Date: 8/29/2026 Last Modified: 8/29/2026

Description

A rare and unique income producing Hotel in Marathon. Tropical Cottages is a boutique & profitable Mom and Pop Motel. Total of 11 valuable Transient Licenses, 13 Rooms plus office with kitchen & check in room. 9 buildings on the property, 8 adorable free standing cottages with new Victorian shingle roofs & the main building with 3 rooms in good condition. Each room has been tastefully and tropically renovated inside and out. Each room is unique & comes fully furnished. Most of the units have small kitchenettes including sink with microwave and refrigerator. All units have refrigerator & microwave. Additionally, there is a large Tiki Hut & Bar along with Food Truck with seating area. The Food Truck and Tiki Bar are leased for $6,375 per mos on a short term agreement. The Motel is managed by Owners . The hotel runs on auto-pilot. Online check-in available with a good housekeeping staff as back up. Most of the business is from repeat customers, plus online booking sites are all utilized. On site is a full laundry room with Commercial grade washers/dryers and storage rooms throughout. All housekeeping is done on site. Small, friendly & efficient staff has been there long term and willing to stay on with new owners. There are a total of 6 lots encompassing over 1/2 acre of land, total .56 Ac or 24,384 sf. Ample off street parking for guests. Zoning is GC and land use is recognized as Hotel/Motel. Bonus of Deeded waterfront access at the end of 61st St. which has a boat ramp and staging area for all types of watercrafts and sports. Same family ownership since 2010. Tropical Cottages was started back in the mid 1950's as a Fish camp and is one of the few remaining Mom & Pop Motels throughout the Florida Keys. Motel generates substantial Net income year after year to current owners. Sellers may consider Seller Financing may be available to a qualified buyer. Terms to be negotiated.

More Information MLS# 621147

Contract Information

Current Price: $5,900,000 Listing Date: 2026-08-29 Listing Board: Key West Association List Price: $5,900,000 Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No

Location Tax Legal

Street #: 243 Street Name: 61st Street Suffix: Street Key/Island: Marathon State/Province: FL Zip Code: 33050 Subdivision: Marathon Heights (50.5) County: Monroe Area: 15 - Sombrero Bch Rd to Vaca Cut Gulfside

General Property Description

Realtor.COM Type: Commercial Style: Commercial Lot Size: .56 ac Lot SqFt: 24384 Waterfront: No Business Name: Tropical Cottages Year Established: 1975-12-31 # Parking Spaces: ample Off Street Parking: yes # Stories: 1 Total # Buildings: 9 Building SqFt: 4461 SqFt Source: Property Data Card Living Apx SqFt: 4557 Total Units: 11 Year Built: 1954 Total Bedrooms: 13 Full Baths: 13 Total Baths: 13

Status Change Info

Status: Active

License Info

# of City License: 12 # of County License: 12 # of Transient Licns: 11

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No

Misc Property Info

Recorded Plat: Yes

Property Info

# Kitchens: 2 1 Bed/Bath: 13

Auction Info

Auction: No

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

License Info: 2-Cop (Beer & Wine) Property Info: License Included Type: Hotel/Motel; Restaurant Waterfront: None Waterview: No Waterview Dockage: Dock Privileges; None Vehicle Storage: Common Parking; Guest Parking; Off Street Parking Cooling: Central Air Utilities: FKAA; Municipal Sewer Interior Features: Drapes/Blinds Incl; Furnished; Laundry Room; Window Treatments Appliances: Dryer; Refrigerator; Washer Miscellaneous: Chickee Hut; Fencing; Manager on Premises; Storage Construction: CBS; Combo Construction; Frame; Manufactured Electric: Other Electric Floor: Other Roof: Metal Roof; Other Roof Land Size: 1/2 - Less Than 1 AC Fee Includes: None Terms: Buyer Obtain Finance; Seller Finance Psble Title: Negotiable Tenant Paid: Tnt Pays No Utils Property Rights: Transient License
Listing Office: RE/MAX Keys Connection (KW)
Last Updated: August - 29 - 2026
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