718 - 720 Caroline Street, Key West, FL 33040
$2,095,000
Property Type:
Commercial Sale
Baths:
3
Square Footage:
3,424
Status:
Active
Current Price:
$2,095,000
List Date:
9/11/2025
Last Modified:
12/09/2025
Description
Introducing a prime investment opportunity at 718-720 Caroline Street, Key West, FL now offered at a 6.5% cap rate. This historic property boasts a 3,424 SF building with three commercial units, offering versatile retail or street retail spaces for savvy investors. Built in 1918 this meticulously-maintained property captures the essence of Key West's rich architectural heritage. With a current 100% occupancy rate, it presents a lucrative prospect for investors seeking a flourishing market with a strong tenant base. Don't miss the chance to own a piece of Key West's history and secure a profitable venture in this sought-after commercial district. Businesses not for sale, please do no disturb the businesses.
More Information MLS# 616452
Contract Information
Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
Potential Short Sale: No
Bank Owned: No
Species List: No
Current Price: $2,095,000
Listing Date: 2025-09-11
List Price: $2,095,000
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 #: 8980907
Parcel #: 00003560-000101
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Legal: UNIT 718-A CAROLINE STREET CONDOMINIUM OR2157-2357/58 OR2375-2417/19 OR2643-2188/89 OR2841-356/58
Taxes: 2780.73
Tax Year: 2024
Street #: 718 - 720
Street Name: Caroline
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unrecord (1.0)
County: Monroe
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 61.9 X 74
Lot SqFt: 0
Total Units: 3
SqFt Source: Seller
Building SqFt: 1331
Style: Commercial
Living Apx SqFt: 3424
Year Built: 1918
Half Baths: 3
Total Baths: 3
Remarks & Misc
Remarks – Consumer: Introducing a prime investment opportunity at 718-720 Caroline Street, Key West, FL now offered at a 6.5% cap rate. This historic property boasts a 3,424 SF building with three commercial units, offering versatile retail or street retail spaces for savvy investors. Built in 1918 this meticulously-maintained property captures the essence of Key West's rich architectural heritage. With a current 100% occupancy rate, it presents a lucrative prospect for investors seeking a flourishing market with a strong tenant base. Don't miss the chance to own a piece of Key West's history and secure a profitable venture in this sought-after commercial district. Businesses not for sale, please do no disturb the businesses.
Association Info
Mandatory Home Owners Asc: Yes
1st Right of Refusal: No
Type
Office Buildings: 1
Retail: 1
Other Services: 1
Fee Includes
Building Insurance: 1
Common Area Mnt: 1
Exterminating: 1
Dockage
None: 1
Appliances
No Appliances: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Construction
Frame: 1
Land Size
Less Than 1/4 Acre: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Separate Meters: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Status: Active
Property Features
Type: Office Buildings; Retail; Other Services
Waterfront: None
Waterview: No Waterview
Dockage: None
Utilities: FKAA; Municipal Sewer; Separate Meters
Appliances: No Appliances
Construction: Frame
Land Size: Less Than 1/4 Acre
Fee Includes: Building Insurance; Common Area Mnt; Exterminating
Listing Office:
Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: December - 09 - 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.