532 Margaret Street, Key West, FL 33040
$1,550,000
Property Type:
Commercial
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
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.
More Information MLS# 597872
Contract Information
Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
For Sale/Lease: For Sale
Species List: No
Current Price: $1,550,000
Listing Date: 2021-09-26
Sold Price: $1,550,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Off Shore Island: No
Mile Marker: 1
Marathon Neighborhood: N/A
Side: N/A
Flood Zone: AE
Alternate Key #: 1008371
Parcel #: 00008110-000000
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Legal: KW PT LOT 1 SQR 47 OR520-1006 OR823-2116/17 OR842-147 OR1250-1952/55 OR1418-793/94 OR1481-1072/73 OR2780-961/63 OR2906-6
Taxes: 8857.77
Tax Year: 2020
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
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 5000
Lot SqFt: 4974
Total Units: 2
Off Street Parking: 1
# Stories: 2
SqFt Source: Appraisal
Building SqFt: 2368
Style: Commercial
Living Apx SqFt: 3161
Year Built: 1958
Total Bedrooms: 2
Full Baths: 2
Half Baths: 3
Total Baths: 5
Remarks & Misc
Remarks – Consumer: 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.
Deed Restrictions
Unknown: 1
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Bar: 1
Office Buildings: 1
Other Comrcl Style: 1
Restaurant: 1
Other Services: 1
Fee Includes
None: 1
Dockage
None: 1
Appliances
Other: Commercia Equipment
Cooling
Ceiling Fans(s): 1
Central Air: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Combo: 1
Concrete: 1
Laminate: 1
Other: 1
Interior Features
Other: 1
Windows/Doors
French Doors: 1
Other Windows/Doors: 1
Single Hung Windows: 1
Vehicle Storage
Car(s): 1
Off Street Parking: 1
Construction
CBS: 1
Combo Construction: 1
Land Size
Less Than 1/4 Acre: 1
Terms
Buyer Obtain Finance: 1
Utilities
Buyer to Verify: 1
FKAA: 1
Municipal Sewer: 1
Propane: 1
Separate Meters: 1
Property Rights
Multi-Use/Commercial: 1
Miscellaneous
Fencing: 1
Handicap Access: 1
Patio: 1
Roof
Combo Roof: 1
Gutters: 1
Metal Roof: 1
Other Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Sold Date: 2021-12-16
Sold Price: $1,550,000
Status: Closed
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
Elevation Certificate ›
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.