223 Petronia Street, Key West, FL 33040 (MLS# 614906)

223 Petronia Street, Key West, FL 33040

$1,500,000

Property Type: Commercial Sale Baths: 3 Square Footage: 2,132 Lot Size (sq. ft.): 1,906 Status: Closed

Current Price: $1,500,000 List Date: 5/06/2025 Last Modified: 10/21/2025

Description

Rare commercial property for sale on the vibrant Petronia Street Corridor in Bahama Village! Spanning 2,132 square feet over two stories—plus a third-floor storage area—this spacious property includes a covered balcony and a fully equipped commercial kitchen. Currently configured as a 98-seat restaurant, the space can be easily reimagined for a variety of uses thanks to its flexible HNCD zoning. Whether you're dreaming of a boutique retail space, creative office hub, wellness studio, or café, this property is a blank canvas for your next venture. In addition to being offered for sale, the property is also available for lease at $12,000/month + triple net (NNN), offering multiple options for those looking to establish a business in a prime Key West location. Surrounded by some of Key West's most beloved destinations—just steps from Blue Heaven and Santiago's Bodega—you'll also benefit from proximity to the Truman Waterfront Park, Coffee Butler Amphitheater, Fort Zachary Taylor, and brand-new residential developments just two blocks away. Tap into the energy of Bahama Village and make your mark in one of Key West's most iconic neighborhoods.

More Information MLS# 614906

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 Current Price: $1,500,000 Listing Date: 2025-05-06 Sold Price: $1,500,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 1 Marathon Neighborhood: N/A Side: Median Flood Zone: 0.2 PCT ANNUAL CHANC Alternate Key #: 8822243 Parcel #: 00013580-000100 Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med Taxes: 7343.5 Tax Year: 2023 Street #: 223 Street Name: Petronia 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: 1906 Lot SqFt: 1906 Total Units: 0 # Stories: 2 SqFt Source: Property Data Card Building SqFt: 2132 Style: Commercial Living Apx SqFt: 2132 Year Built: 2001 Half Baths: 3 Total Baths: 3

Remarks & Misc

Remarks – Consumer: Rare commercial property for sale on the vibrant Petronia Street Corridor in Bahama Village! Spanning 2,132 square feet over two stories—plus a third-floor storage area—this spacious property includes a covered balcony and a fully equipped commercial kitchen. Currently configured as a 98-seat restaurant, the space can be easily reimagined for a variety of uses thanks to its flexible HNCD zoning. Whether you're dreaming of a boutique retail space, creative office hub, wellness studio, or café, this property is a blank canvas for your next venture. In addition to being offered for sale, the property is also available for lease at $12,000/month + triple net (NNN), offering multiple options for those looking to establish a business in a prime Key West location. Surrounded by some of Key West's most beloved destinations—just steps from Blue Heaven and Santiago's Bodega—you'll also benefit from proximity to the Truman Waterfront Park, Coffee Butler Amphitheater, Fort Zachary Taylor, and brand-new residential developments just two blocks away. Tap into the energy of Bahama Village and make your mark in one of Key West's most iconic neighborhoods.

Association Info

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

License Info

2-Cop (Beer & Wine): 1

Type

Office Buildings: 1 Other Comrcl Style: 1 Professional Service: 1 Restaurant: 1 Retail: 1

Fee Includes

None: 1

Dockage

None: 1

Appliances

Other: Ask List Agent

Cooling

Central Air: 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

Property Rights

Beverage License: 1

Miscellaneous

Handicap Access: 1 High Traffc Location: 1 High Visibility: 1 Patio: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Sold Date: 2025-07-31 Sold Price: $1,500,000 Status: Closed

Property Features

License Info: 2-Cop (Beer & Wine) Type: Office Buildings; Other Comrcl Style; Professional Service; Restaurant; Retail Waterfront: None Waterview: No Waterview Dockage: None Cooling: Central Air Utilities: FKAA; Municipal Sewer Miscellaneous: Handicap Access; High Traffc Location; High Visibility; Patio Construction: Frame Land Size: Less Than 1/4 Acre Fee Includes: None Property Rights: Beverage License

Listing Office: eXp Realty LLC

Last Updated: October - 21 - 2025

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