402 Appelrouth Lane, Key West, FL 33040 (MLS# 617030)

402 Appelrouth Lane, Key West, FL 33040

$2,490,000

Property Type: Commercial Sale Bedrooms: 3 Baths: 8 Lot Size (sq. ft.): 3,636 Status: Active

Current Price: $2,490,000 List Date: 10/25/2025 Last Modified: 5/07/2026

Overview

Description

**6%+ Cap Rate Opportunity ** Now offered at $2,490,000, this income producing Old Town property offers strong cash flow and immediate investor appeal. Located just steps from Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X Flood Zone location. This mixed use property has income potential from residential and commercial units. With over 5000sqft of interior space this iconic structure showcases tall ceilings, historic architectural character and custom artistic details that give it Old Town Charm. Appelrouth Lane is known for strong foot traffic, established neighboring businesses and a desirable central location. just minutes from restaurants, galleries, shopping and Key West nightlife. Opportunities like this are exceptionally rare.

Listing Details MLS# 617030

Location, Tax & Legal

Street #: 402
Street Name: Appelrouth
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Jack Sq Prof Cent (1.0)
County: Monroe
Area: 01 - Key West

Contract Information

Listing Board: Key West Association
Limited Representation: No
Potential Short Sale: No
Bank Owned: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 3636
Waterfront: No
# Stories: 3
Year Built: 1943
Total Bedrooms: 3
Full Baths: 6
Half Baths: 2
Total Baths: 8

Association Info

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

Financial Status

Bank Owned: No
Potential Short Sale: No

More Information

Property Features

Type: Apartment 3 or more; Office Buildings; Professional Service Waterfront: None Waterview: No Waterview Dockage: None Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Appliances: Refrigerator Miscellaneous: High Traffc Location; High Visibility Construction: Frame Floor: Combo; Wood Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Property Rights: Multi-Use/Commercial

Listing Office: Preferred Properties (KW)

Last Updated: May - 07 - 2026

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