1114 White Street, Key West, FL 33040

$1,995,000
Property Type: Residential Bedrooms: 1 Baths: 4 Square Footage: 3,660 Lot Size (sq. ft.): 5,201 Status: Closed
Current Price: $1,995,000 List Date: 2/11/2025 Last Modified: 6/25/2025

Description

An exceptional investment opportunity awaits in Old Town just south of Truman in the Gallery District on White Street. This income-producing property features four newly renovated (2023) commercial spaces and a legal leasable renovated residential apartment, offering a diverse and steady revenue stream. Located in the desirable X Flood Zone, this property is built for durability featuring impact windows and doors throughout. It boasts three separate entrances, providing flexibility for tenants and potential owner-occupants. This property also has the potential to be transformed into a luxurious 3,660 sq. ft. single-family residence. With its spacious layout and separate entrances, the commercial spaces could easily be repurposed into multiple bedrooms or living areas, creating an expansive home with distinct zones for relaxation, entertainment, and work. The bright, open floor plan, high ceilings, and updated finishes in the residential apartment already set the foundation for a seamless transition. Additionally, the 650 sq. ft. event space in the back could become a stunning great room or private studio, while the storage shed could be converted into a garage or additional outdoor living space. Whether you're looking for a spacious family home or a sophisticated live-work environment, this property offers incredible versatility to accommodate your vision. Call to schedule an appointment to see this property today!

More Information MLS# 613647

Contract Information

Listing Board: Key West Association Potential Short Sale: No Bank Owned: No Current Price: $1,995,000 Listing Date: 2025-02-11 Sold Price: $1,995,000

Location, Tax & Legal

KW Neighborhood: Old Town-S of Truman City: KEY WEST Mile Marker: 1 Marathon Neighborhood: N/A Side: Median Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 1033511 Parcel #: 00032750-000000 Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med Deed Restrictions: Unknown Legal: KW GWYNN SUB O-195 PT LOT 6 SQR 2 TR 13 OR446-110 OR237-504 OR446-110 OR653-500 OR840-2292 OR840-2294 OR1206-1855 OR1357 Taxes: 14440.01 Tax Year: 2023 Pub Sewer HkUp: Yes Street #: 1114 Street Name: White Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 County: Monroe Subdivision: Gwynn Sub (1.0) Area: 02 - Key West

General Property Description

Realtor.COM Type: Residential - Single Family Waterfront: No Control Depth: 0 Lot SqFt: 5201 Pool: No Lot Sqft Source: Property Data Card Total Units: 0 Acres: 0.12 SqFt Source: Property Data Card Rentals Allowed: With Restrictions Style: Single Family Year Built: 1945 Living Apx SqFt: 3660 Total Bedrooms: 1 Full Baths: 3 Half Baths: 1 Total Baths: 4

Remarks & Misc

Remarks – Consumer: An exceptional investment opportunity awaits in Old Town just south of Truman in the Gallery District on White Street. This income-producing property features four newly renovated (2023) commercial spaces and a legal leasable renovated residential apartment, offering a diverse and steady revenue stream. Located in the desirable X Flood Zone, this property is built for durability featuring impact windows and doors throughout. It boasts three separate entrances, providing flexibility for tenants and potential owner-occupants. This property also has the potential to be transformed into a luxurious 3,660 sq. ft. single-family residence. With its spacious layout and separate entrances, the commercial spaces could easily be repurposed into multiple bedrooms or living areas, creating an expansive home with distinct zones for relaxation, entertainment, and work. The bright, open floor plan, high ceilings, and updated finishes in the residential apartment already set the foundation for a seamless transition. Additionally, the 650 sq. ft. event space in the back could become a stunning great room or private studio, while the storage shed could be converted into a garage or additional outdoor living space. Whether you're looking for a spacious family home or a sophisticated live-work environment, this property offers incredible versatility to accommodate your vision. Call to schedule an appointment to see this property today!

Association Info

Mandatory Home Owners Asc: No 1st Right of Refusal: No Association Fee $: 0

License Info

# of City License: 1 Non Trans Rntl Lic: 1

Fee Includes

None: 1

Dockage

None: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Microwave: 1 Oven: 1 Range: 1 Refrigerator: 1 Washer: 1

Pets

Pets Allowed: 1

Cooling

Ceiling Fans(s): 1 Central Air: 1 Wall/Window Unit(s): 1

Heating

Central: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Tile: 1

Property Condition

Updated/Remodeled: 1

Building Style

Above Flood: Unknown Ground Level: 1

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1

Construction

Concrete: 1 Other: 1

Land Size

Less Than 1/4 Acre: 1

Furnished

Negotiable: 1

Terms

Cash: 1 Conventional: 1

Utilities

FKAA: 1

Roof

Other Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No Standard Sale: Yes

Status Change Info

Sold Date: 2025-06-24 Sold Price: $1,995,000 Status: Closed

Property Features

Fee Includes: None Tax Exemptions: None License Info: Non Trans Rntl Lic Waterfront: None Waterview: No Waterview Dockage: None Property Condition: Updated/Remodeled Building Style: Ground Level Furnished: Negotiable Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s) Heating: Central Utilities: FKAA Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Washer Construction: Concrete; Other Floor: Tile Roof: Other Roof Pets: Pets Allowed Land Size: Less Than 1/4 Acre Terms: Cash; Conventional
Listing Office: Old Town Realty
Last Updated: June - 25 - 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.