532 Margaret Street, Key West, FL 33040
$2,950,000
Property Type:
Commercial Sale
Bedrooms:
1
Baths:
3
Square Footage:
2,490
Lot Size (sq. ft.):
4,974
Status:
Active
Current Price:
$2,950,000
List Date:
5/13/2025
Last Modified:
10/03/2025
Description
Completely remodeled from top to bottom, this turnkey restaurant in the heart of Old Town Key West offers a rare opportunity to own a fully updated and licensed 150-seat dining destination. Every inch of the property has been thoughtfully renovated, including brand-new electrical, plumbing, HVAC, flooring, lighting, and fixtures, creating a fresh, modern space that still captures the charm and character of historic Key West. The layout features expansive indoor-outdoor dining areas, a stylish full-service bar, and newly designed restrooms, all tailored for comfort, ambiance, and efficient flow. The commercial-grade kitchen is fully equipped with state-of-the-art appliances, ample prep space, and storage, making it ideal for high-volume service across a wide range of culinary concepts. Adding to its versatility, the property also includes a beautifully updated 1-bedroom, 1-bathroom apartment upstairs—perfect for on-site living, staff housing, or additional rental income.
More Information MLS# 615015
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: $2,950,000
Listing Date: 2025-05-12
List Price: $2,950,000
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: Median
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 OR842-147 OR1250-1952 OR1418-793 OR1481-1072 OR2780-961 OR2906-697 OR2911-534 O
Taxes: 12930.38
Tax Year: 2024
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: 53 x 65.5
Lot SqFt: 4974
Total Units: 0
# Parking Spaces: 1
# Stories: 2
SqFt Source: Survey
Building SqFt: 2490
Style: Commercial
Living Apx SqFt: 2490
Year Built: 1958
Total Bedrooms: 1
Full Baths: 1
Half Baths: 2
Total Baths: 3
Remarks & Misc
Remarks – Consumer: Completely remodeled from top to bottom, this turnkey restaurant in the heart of Old Town Key West offers a rare opportunity to own a fully updated and licensed 150-seat dining destination. Every inch of the property has been thoughtfully renovated, including brand-new electrical, plumbing, HVAC, flooring, lighting, and fixtures, creating a fresh, modern space that still captures the charm and character of historic Key West. The layout features expansive indoor-outdoor dining areas, a stylish full-service bar, and newly designed restrooms, all tailored for comfort, ambiance, and efficient flow. The commercial-grade kitchen is fully equipped with state-of-the-art appliances, ample prep space, and storage, making it ideal for high-volume service across a wide range of culinary concepts. Adding to its versatility, the property also includes a beautifully updated 1-bedroom, 1-bathroom apartment upstairs—perfect for on-site living, staff housing, or additional rental income.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Restaurant: 1
Fee Includes
None: 1
Dockage
None: 1
Appliances
Other: Commercial Kitchen
Waterfront
None: 1
Waterview
No Waterview: 1
Construction
CBS: 1
Combo Construction: 1
Land Size
Less Than 1/4 Acre: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Status: Active
Property Features
Type: Restaurant
Waterfront: None
Waterview: No Waterview
Dockage: None
Utilities: FKAA; Municipal Sewer
Construction: CBS; Combo Construction
Land Size: Less Than 1/4 Acre
Fee Includes: None
Listing Office:
Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: October - 03 - 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.