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718 - 720 Caroline Street, Key West, FL 33040

$1,995,000
Property Type: Commercial Sale Baths: 3 Square Footage: 3,424 Status: Active
Current Price: $1,995,000 List Date: 9/11/2025 Last Modified: 7/16/2026

Overview

Description

Introducing a prime investment opportunity at 718-720 Caroline Street, Key West, FL now offered at a 6.7% 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.

Listing Details MLS# 616452

Location, Tax & Legal

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

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

General Property Description

Realtor.COM Type
Commercial
Style
Commercial
Waterfront
No
Building SqFt
3424
SqFt Source
Seller
Living Apx SqFt
3424
Total Units
3
Year Built
1918
Half Baths
3
Total Baths
3

Association Info

Mandatory Home Owners Asc
Yes
1st Right of Refusal
No

Financial Status

Bank Owned
No
Potential Short Sale
No

More Information

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: July - 16 - 2026
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.