Historic Three-Unit Storefront
For Sale
$1,995,000
718 - 720 Caroline Street, Key West, FL 33040
Commercial Sale, Key West, FL
Property Size3,424 SF
Price / SF$582.65
Days on Market356
Property Features for 718 - 720 Caroline Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HNC(1-3) - Hist Nghborhd
Bathrooms
2
Half bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Appliances
No Appliances
Subdivision
Old Town - Unrecord (1.0)
View
Water
Standard status
Active
APN
00003560-000101
Size
3,424 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 718-A CAROLINE STREET CONDOMINIUM OR2157-2357/58 OR2375-2417/19 OR2643-2188/89 OR2841-356/58
Tax Annual Amount
2781
Legal Description
UNIT 718-A CAROLINE STREET CONDOMINIUM OR2157-2357/58 OR2375-2417/19 OR2643-2188/89 OR2841-356/58
Building Details
Year built
1918
Number of units
3
Building materials
Frame
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 294-5155
Listed By:
Team Gardner/Langley · License #KWA.2032
(305) 902-2447
Added: Sep 11, 2025
Changed: Aug 19
Last Checked: Sep 1 at 5:06PM
MLS# 616452
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.
Investment Insights
Based on property information with market context.
Located at 718-720 Caroline Street in Key West, this frame commercial property contains a 3,424-square-foot building with three commercial units. The configuration supports retail or street retail use, while three bathrooms serve the premises. Constructed in 1918, the property reflects historic construction within the Caroline Street setting.
The asset is zoned HNC(1-3) - Hist Nghborhd and is currently reported at 100% occupancy. The sale includes the real estate only; the operating businesses are not included. A 6.7% cap rate is reported for the property, providing an established occupancy profile for review by prospective purchasers.
The asset is zoned HNC(1-3) - Hist Nghborhd and is currently reported at 100% occupancy. The sale includes the real estate only; the operating businesses are not included. A 6.7% cap rate is reported for the property, providing an established occupancy profile for review by prospective purchasers.
Key Highlights
- 3,424 SF frame building with three commercial units
- 1918 construction
- 100% current occupancy
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,704
Businesses Nearby
104k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Hotels & Casinos 20%
Apparel 19%
Groceries 18%
La Concha Key West
Hotels & Casinos
20,542 visits/mo
0.3 miles
Wendy's
Dining
19,101 visits/mo
0.2 miles
Fausto's Food Palace
Groceries
10,002 visits/mo
0.3 miles
River Street Sweets
Groceries
8,601 visits/mo
0.3 miles
The Cafe
Dining
8,463 visits/mo
0.4 miles
Demographics for 33040, FL
35,958
Population
19,001
Households
1.9
Avg Household Size
44
Median Age
38%
College-Educated
92%
High-School Grad
17.7 sq mi
ZIP Area
2,032
Density / Sq Mi
$79,038
Median Household Income
$42,458
Median Earnings
$2,079
Median Rent
$766,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic commercial building with multiple occupied units suited to retail or street-front business operations.
Where is this storefront property located?
The property is located at 718 - 720 Caroline Street Key West, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 3,424 SF frame building with three commercial units; 1918 construction; 100% current occupancy
