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    718 Caroline St Key West, FL 33040

    For Sale
    $2,450,000

    Office Buildings,Other Services,Retail - Key West, FL

    Days on Market:
    87
    Last Refresh:
    Dec 6 at 8:06 am

    Property Features for 718 Caroline St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3
    Bathrooms
    3
    APN
    00003560-000101
    Appliances
    None

    Building Details

    Year built
    1918
    Number of units
    3
    Building materials
    Frame
    Architectural style
    Other

    Berkshire Hathaway Keys Real Estate | Knight & Gardner Realty (305) 294-5155 [email protected]

    Listing agent Team Gardner/Langley (305) 294-5155 License #BK612006

    Listing date Sep 11, 2025

    MLS# 616452 Listing URL

    Copyright © 2025 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.

    Overview

    Historic Retail Investment in Key West

    Located at 718-720 Caroline Street in Key West, FL, this historic property presents a prime investment opportunity. Constructed in 1918, the 3,424 square foot building features three commercial units, suitable for retail or street retail businesses. The property is zoned HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med. The building is currently 100% occupied, offering a strong tenant base for investors. This meticulously maintained property captures the architectural heritage of Key West, situated in a sought-after commercial district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Realty agency Dental Office Spa & Massage Restaurant Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.801265
    Latitude
    24.55987

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    FAQs

    What type of property is this?
    Retail space - Historic Key West retail property with high occupancy and investment potential.
    Where is this retail space located?
    The property is located at 718 Caroline St Key West, FL.
    What is the asking price?
    The asking price for this property is $2,450,000.
    What are key features of this property?
    This property features: - Prime investment opportunity in Key West, FL.; - Historic 3,424 SF building built in 1918.; - Three commercial units are suitable for retail or street retail.
    (305) 294-5155
    Request Owner's contact information
    718 Caroline St Key West, FL 33040
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    718 Caroline St Key West, FL 33040
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