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532 Margaret Street, Key West, FL 33040

$1,550,000
Property Type: Commercial Sale Bedrooms: 2 Baths: 5 Square Footage: 3,161 Lot Size (sq. ft.): 4,974 Status: Closed
Current Price: $1,550,000 List Date: 9/26/2021 Last Modified: 4/30/2025

Overview

Description

MIXED USE owner occupied or investment opportunity offering turn key restaurant with 2nd floor 2-bedroom, 2-bathroom apartment located in the heart of Old Town, Key West. The possibilities are endless with over 3000sqf of indoor & outdoor dining that provide the opportunity to host a casual or formal dining experience at an established and local favorite neighborhood location with heavy foot traffic from hungry residents, snowbirds and tourists. A Large dreamy Chef's kitchen includes multiple cooking zones, large walk-in cooler, ample storage and separate entrance with off street parking for receiving deliveries and keeping waste out of site. The restaurant is licensed for 97 seats and includes all equipment, fixtures and furnishings. Recent renovations include updates to kitchen, dining rooms, garden patios and a new roof. Current Fire Marshal approved Occupancy load meets DPBR requirements for a 5-COP Liquor License. Buyer to verify and re-apply.

Listing Details MLS# 597872

Location, Tax & Legal

Street #
532
Street Name
Margaret
Street Suffix
Street
Key/Island
Key West
State/Province
FL
Zip Code
33040
Subdivision
Old Town - Unlisted (1.0)
County
Monroe
Area
02 - Key West

Contract Information

Listing Board
Key West Association
Limited Representation
No
As is Rght to Inspct
Yes
For Sale/Lease
For Sale
Potential Short Sale
No
Bank Owned
No
Species List
No

General Property Description

Realtor.COM Type
Commercial
Style
Commercial
Lot SqFt
4974
Waterfront
No
Off Street Parking
Yes
# Stories
2
Building SqFt
2368
SqFt Source
Appraisal
Living Apx SqFt
3161
Total Units
2
Year Built
1958
Total Bedrooms
2
Full Baths
2
Half Baths
3
Total Baths
5

Status Change Info

Under Contract Date
2021-12-06
Leased Date
2021-12-16

Association Info

Mandatory Home Owners Asc
No
1st Right of Refusal
No

Vehicle Storage

Car(s)
Yes

More Information

Appliances

Other
Commercia Equipment

Financial Status

Bank Owned
No
Potential Short Sale
No

Property Features

Deed Restrictions: Unknown Type: Bar; Office Buildings; Other Comrcl Style; Restaurant; Other Services Waterfront: None Waterview: No Waterview Dockage: None Vehicle Storage: Off Street Parking Cooling: Ceiling Fans(s); Central Air Utilities: Buyer to Verify; FKAA; Municipal Sewer; Propane; Separate Meters Interior Features: Other Miscellaneous: Fencing; Handicap Access; Patio Construction: CBS; Combo Construction Floor: Combo; Concrete; Laminate; Other Roof: Combo Roof; Gutters; Metal Roof; Other Roof Land Size: Less Than 1/4 Acre Fee Includes: None Terms: Buyer Obtain Finance Property Rights: Multi-Use/Commercial

Documents

Listing Office: Coastal Collection Real Estate Inc.
Last Updated: April - 30 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.
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