I frequently write about this or that property being located on one of the best lots in Old Town because most new "second home" buyers want a house in the Old Town area. That is the area with which they are most familiar. I often write about homes in the Meadows Area or Casa Marina Area as differing locations worthy of consideration. The listing at
921-923 Johnson Street is located in the
Casa Marina Area. It is probably not what second home buyers envision unless they are looking for a large lot with development potential in a terrific location where the property values should substantially increase. If that fits your potential buyer profile, please keep reading.
The listing Realtor describes 921-923 Johnson Street this way:
"This is the last re-developed corner lot at Johnson Street and Grinnell in the
highly desirable Casa Marina/Higgs Beach neighborhood of Key West. Currently
metered and rented as a triplex, the property could serve as a long term
investment or new home site for a Buyer's dream home on its 10,000 square foot
lot. There are three addresses currently used (921 & 923 Johnson and 1506
Grinnell) and each unit is occupied by renters."
The location at the intersection of Johnson and Grinnell Streets helps explain the asking price on this development parcel - this is one of the very best sites in Key West. The lot is 100' x 100' or
10,000 sq ft. Houses on the other three corners are multi-million dollar homes. Nearby homes on Grinnell Street, Casa Marina Court, and Johnson Street are also valued in the million dollar plus price range. The nearby homes are valuable for many reasons including proximity near the beaches, extra large lot sizes, unique architectural design and superior construction.
CLICK HERE to view more photos of the site and the nearby homes.
The existing buildings were built in 1953 and are now used as three rental units. According to the Monroe County Property Appraiser the current buildings total 2,345 sq ft.
CLICK HERE to view the Key West mls datasheet and to view listing photos. This property is offered at $
1,650,000. (or $165 per sq ft for land value)
A few months ago I wrote about a similar home located two blocks east at 1119 Johnson Street. That property was a vintage 1963 split level home that sat on a 7500 sq ft lot on a block of multi-million dollar homes. It sold $1,300,000 (or $173 per sq ft for land value) and is being razed to construct a new contemporary residence for the new owners.
CLICK HERE to see sold price.
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| Public tennis courts and the beaches one block south |
I have long wondered when the owner was going to sell this parcel and when some new buyer would seize the opportunity to create a great new residence at this dynamic location one block away from the Casa Marina Resort and the nearby beaches. If you are that buyer please contact me,
Gary Thomas,
305-766-2642, to discuss this property. I am a buyers agent and a full time Realtor at
Preferred Properties Key West.
