532 Margaret Street, Key West, FL 33040 (MLS# 615015)

532 Margaret Street, Key West, FL 33040

$2,500,000

Property Type: Commercial Sale Bedrooms: 1 Baths: 3 Square Footage: 2,490 Lot Size (sq. ft.): 4,974 Status: Active

Current Price: $2,500,000 List Date: 5/13/2025 Last Modified: 9/02/2026

Overview

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.

Listing Details MLS# 615015

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
# Parking Spaces: Yes
# Stories: 2
Building SqFt: 2490
SqFt Source: Survey
Living Apx SqFt: 2490
Year Built: 1958
Total Bedrooms: Yes
Full Baths: Yes
Half Baths: 2
Total Baths: 3

Association Info

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

Appliances

Other: Commercial Kitchen

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

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: September - 02 - 2026

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