518 Fleming Street, Key West, FL 33040 (MLS# 615088)

518 Fleming Street, Key West, FL 33040

$1,750,000

Virtual Tour

https://www.zillow.com/view-3d-home/51f9f213-eed3-4d10-aaa2-b12be5522d00?setAttribution=mls&wl=true&utm_source=dashboard

Property Type: Commercial Sale Bedrooms: 2 Baths: 2 Square Footage: 1,888 Lot Size (sq. ft.): 1,125 Status: Closed

Current Price: $1,750,000 List Date: 5/19/2025 Last Modified: 8/11/2025

Description

Prime Fully-Rented Mixed-Use Investment Property in Old Town Key West! Located on Fleming Street, just steps from Duval Street this high-visibility, high traffic corner building includes two ground-floor commercial units with large display windows. The upstairs offers a spacious 2BD/1BA upstairs apartment with additional 3rd floor storage. The interior features Dade County Pine walls and a 30-foot balcony. Zoned HRCC1, this historic property offers excellent rental income and long-term value. Seller Financing Only- This property is being offered exclusively with Seller financing. All offers must include terms acceptable to the Seller's financing structure. Contact agent for financing terms.

More Information MLS# 615088

Contract Information

Listing Board: Key West Association Limited Representation: No Potential Short Sale: No Bank Owned: No Current Price: $1,750,000 Listing Date: 2025-05-19 Sold Price: $1,750,000

Location, Tax & Legal

KW Neighborhood: Old Town-N of Truman City: KEY WEST Mile Marker: 1 Marathon Neighborhood: N/A Side: Median Flood Zone: X Alternate Key #: 1009776 Parcel #: 00009520-000000 Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl Legal: KW PT LOT 3 SQR 50 XX-172 CO JUDGE DOCKET 9-129 Taxes: 11088.05 Tax Year: 2024 Street #: 518 Street Name: Fleming 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: 30.4' X 37' Lot SqFt: 1125 Total Units: 3 # Stories: 2 SqFt Source: Property Data Card Total # Buildings: 1 Building SqFt: 1888 Style: Commercial Living Apx SqFt: 1888 Year Built: 1930 Total Bedrooms: 2 Full Baths: 1 Half Baths: 1 Total Baths: 2

Remarks & Misc

Remarks – Consumer: Prime Fully-Rented Mixed-Use Investment Property in Old Town Key West! Located on Fleming Street, just steps from Duval Street this high-visibility, high traffic corner building includes two ground-floor commercial units with large display windows. The upstairs offers a spacious 2BD/1BA upstairs apartment with additional 3rd floor storage. The interior features Dade County Pine walls and a 30-foot balcony. Zoned HRCC1, this historic property offers excellent rental income and long-term value. Seller Financing Only- This property is being offered exclusively with Seller financing. All offers must include terms acceptable to the Seller's financing structure. Contact agent for financing terms. Directions: Take US 1 South to Key West. Heading down Truman Ave turn right onto Duval St and right onto Fleming St, 518 Fleming St is on your right side.

Status Change Info

Sold Comments: Thank you Joe! Sold Date: 2025-08-08 Sold Price: $1,750,000 Status: Closed

Deed Restrictions

Unknown: 1

Association Info

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

Type

Retail: 1

Fee Includes

None: 1

Dockage

None: 1

Accounts & Meters

# Electric Meters: 2

Appliances

Dishwasher: 1 Range: 1 Refrigerator: 1 Other: Microwave

Property Info

# Kitchens: 1 # Refrigerators: 1 # Range/Ovens: 1 2 Bed/Bath: 1

Cooling

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

Waterfront

None: 1

Waterview

No Waterview: 1

Floor

Carpet: 1 Laminate: 1 Tile: 1 Wood: 1

Interior Features

Smoke Alarms: 1

Windows/Doors

Double Hung Windows: 1 Wood Windows: 1

Construction

Frame: 1

Land Size

Less Than 1/4 Acre: 1

Terms

Seller Finance Psble: 1

Utilities

Buyer to Verify: 1 FKAA: 1 Municipal Sewer: 1 Separate Meters: 1

Title

Title Ins - Buyer: 1

Property Rights

Multi-Use/Commercial: 1

Miscellaneous

High Traffc Location: 1 High Visibility: 1

Roof

Metal Roof: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Tenant Paid

Electric: 1 Water: 1

Property Features

Deed Restrictions: Unknown Type: Retail Waterfront: None Waterview: No Waterview Dockage: None Cooling: Ceiling Fans(s); Wall/Window Unit(s) Utilities: Buyer to Verify; FKAA; Municipal Sewer; Separate Meters Interior Features: Smoke Alarms Appliances: Dishwasher; Range; Refrigerator Miscellaneous: High Traffc Location; High Visibility Construction: Frame Floor: Carpet; Laminate; Tile; Wood Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Terms: Seller Finance Psble Title: Title Ins - Buyer Tenant Paid: Electric; Water Property Rights: Multi-Use/Commercial

Listing Office: Coldwell Banker Schmitt Real Estate Co. (KW)

Last Updated: August - 11 - 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.