718 - 720 Caroline Street, Key West, FL 33040 (MLS# 616452)

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

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