Back to Search

Key West Redevelopment Opportunity

709 Whitmarsh Lane, Key West, FL 33040

View on Map

For Sale

$3,485,000

COMMERCIAL - Key West, FL

Lot size:

0.11 Acres

HighLights

Shovel‑ready 6‑unit redevelopment opportunity with issued building permit (2024) for condo conversion.
Prime Old Town Key West location, just two blocks from Duval Street.
Four of the 1‑bedroom units are already substantially renovated.
Includes detailed architectural plans, condo documents, survey, and cost projections.
High elevation on Solares Hill provides insurance savings and peace of mind.
Features an architecturally redesigned home with parking and pool, plus four renovated 1‑bedroom apartments.

We can help!

Listing Contact

Keith Bland

For Sale

$3,485,000

COMMERCIAL - Key West, FL

Lot size:

0.11 Acres

Added:: Apr 20, 2026
Days on Market:: 62
Last Refresh:: Jun 20 at 6:06 am

Property Features for 709 Whitmarsh Lane

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: HDR - High Density Reside
Bedrooms: 7
Bathrooms: 7
Rooms: Bedroom 6, Bathroom 7, Bathroom 4, Bedroom 2, Bathroom 6, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 7, Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 3
Appliances: Refrigerator, Range, Washer, Dryer
Standard status: Active
APN: 00015540000000
Lot size: 0.11 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: Kw Pt Lot 1 Sqr 1 Tr 4 G12-306/07 Or773-374/76 Or1197-1270 Or1540-1177 Or2185-1541/42 Or2403-2028 Or2931-535 Or2960-184
Tax Annual Amount: 16589

Utilities

Cooling system: Wall/Window Unit(s), Window Unit(s)

Building Details

Year built: 1943
Number of units: 6
Flooring type: Vinyl, Tile
Building materials: Frame, Stucco, Combo Construction
Roof type: Metal

We can help!

Listing Contact

Keith Bland

Listing agent Keith Bland License #3166210

Listing office Truman & Co. (KW) 1205 Truman Avenue, Key West, FL

Listing date Apr 20, 2026

MLS# 619585

Copyright © 2026 Key West Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Shovel‑ready 6‑unit redevelopment opportunity with issued building permit (2024) for condo conversion.
Prime Old Town Key West location, just two blocks from Duval Street.
Four of the 1‑bedroom units are already substantially renovated.
Includes detailed architectural plans, condo documents, survey, and cost projections.
High elevation on Solares Hill provides insurance savings and peace of mind.
Features an architecturally redesigned home with parking and pool, plus four renovated 1‑bedroom apartments.

Overview

This redevelopment opportunity features 6 dwelling units and is located atop Solares Hill. The property includes planning and design work that resulted in a building permit issued in 2024. Substantial renovation is already complete on four of the 1-bedroom units. The current owner has invested time and capital securing previous approvals to renovate and then convert the rentals to condos, including architectural plans, condominium documents, a proposed survey for the 5-6 unit condo development, labor and materials cost projection, and full submittal documents and a building permit issued in early 2024. The property's location is in the heart of Old Town, two blocks from Duval St. The property's 6 residential units break down as follows: (1) an architecturally redesigned home at 709 Whitmarsh Ln, with parking and pool, to replace the current single-family home and studio apartment, and (2) 4 additional, fully renovated, large 1-bedroom apartments housed in a historic 2-story building at 713 Whitmarsh Ln. This investment opportunity represents 6 legal, currently rented units in the best location in Old Town Key West and with the building permit previously issued, a streamlined path to final execution of the condominium redevelopment. The property is located in Key West, Florida. The lot size is 0.11 acres. The zoning is HDR - High Density Reside.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Key West
County: Monroe
State: Florida
Longitude: -81.799118
Latitude: 24.554695

Nearby Similar for Sale

$1,850,000

1,745 SF

Single-Story Office Corner Building

Single-story office building with drive-through parking, central air, and five private offices on a highly visible corner lot.

701 Simonton Street, Key West, FL 33040

View Details
$749,000

1,491 SF

New Mixed-Use Development in Key West

Commercial space in new mixed-use development, completion end of 2026.

3201 Flagler Avenue, Key West, FL 33040

View Details
$439,000

718 SF

Turnkey Retail Condominium Suite

Turnkey retail condo with updated flooring and paint, plus HOA coverage for building and common area maintenance.

1012 Truman Avenue, Key West, FL 33040

View Details
$2,250,000

3,876 SF

Key West Multi-Unit Investment

Six legal apartments with parking in Key West's Old Town.

912 Pohalski Street, Key West, FL 33040

View Details
$2,699,000

2,396 SF

Prime Corner Commercial Property, Key West

Corner property with high visibility, multiple commercial uses allowed.

1000 Truman Avenue, Key West, FL 33040

View Details
$2,250,000

3,876 SF

Key West Multi-Unit Investment

Six legal apartments with parking in Old Town Key West.

912 Pohalski Street, Key West, FL 33040

View Details
$1,250,000

Adjoining Office Condominiums with Patio

Two adjoining office condo units are offered together, including a leased suite with private offices and patio.

1421 First Street, Key West, FL 33040

View Details
$1,700,000

3,000 SF

Value-Add Fourplex Investment Opportunity

Fourplex with income potential after renovations in Key West, FL.

1224 2nd Street, Key West, FL 33040

View Details
$2,699,999

3,568 SF

Waterfront Duplex with Bonus Suite

Upgraded multifamily duplex with bonus suite, waterfront access, boat lift.

6 Egret Lane, Geiger Key, FL 33040

View Details
$1,250,000

2,664 SF

Legal Duplex on Spacious Lot

Legal duplex with rental income potential on a 10,000 SqFt lot.

1409 4Th Street, Key West, FL 33040

View Details
$1,875,000

2,423 SF

Key West Duplex with Pool

Spacious duplex with pool, ideal for various living arrangements.

1516 17th Terrace, Key West, FL 33040

View Details
$1,500,000

1,436 SF

Key West Commercial Opportunity

Standalone commercial building in Old Town Key West with parking.

604 Whitehead Street, Key West, FL 33040

View Details

For sale
Apartment buildings
FL
Key West
33040
709 Whitmarsh Lane

What type of property is this?

Apartment building - Redevelopment opportunity with permits in the heart of Old Town.

Where is this apartment building located?

The property is located at 709 Whitmarsh Lane Key West, FL.

What is the asking price?

The asking price for this property is $3,485,000.

What are key features of this property?

This property features: Shovel‑ready 6‑unit redevelopment opportunity with issued building permit (2024) for condo conversion.; Prime Old Town Key West location, just two blocks from Duval Street.; Four of the 1‑bedroom units are already substantially renovated.

709 Whitmarsh Lane, Key West, FL 33040

COMMERCIAL - Key West, FL

Property Features for 709 Whitmarsh Lane

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Single-Story Office Corner Building

New Mixed-Use Development in Key West

Turnkey Retail Condominium Suite

Key West Multi-Unit Investment

Prime Corner Commercial Property, Key West

Key West Multi-Unit Investment

Adjoining Office Condominiums with Patio

Value-Add Fourplex Investment Opportunity

Waterfront Duplex with Bonus Suite

Legal Duplex on Spacious Lot

Key West Duplex with Pool

Key West Commercial Opportunity

FAQs

Create New Password