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    823 Fleming St Key West, FL 33040

    New
    For Sale
    $19,550,000

    Hotel/Motel - Key West, FL

    Days on Market:
    3
    Last Refresh:
    Dec 11 at 7:06 am

    Property Features for 823 Fleming St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    HCT - Historic Commercial Tourist
    APN
    00005700-000000

    Building Details

    Year built
    1892
    Floors in Building
    2
    Number of units
    35
    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 Dec 9, 2025

    MLS# 611315 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

    Key West Hotel/Motel Opportunity

    Located on the north side of Old Town, just two blocks from the historic Key West Port, this hotel/motel is within walking distance of the bars and restaurants on Duval Street and close to landmarks such as the Southernmost Point, the Ernest Hemingway Home, the Key West Butterfly Conservatory, and Mallory Square. Designed for group travelers, it offers both private and shared guestrooms. Private rooms can accommodate groups of up to six people, with each guest provided their own bed, locker, and towels. Guestroom amenities include en-suite bathrooms, private lockers, and personal charging docks. The property features three outdoor pools and holds a bar license, serving drinks from the front desk. An office space is also present, which can be converted into a 3-bedroom transient unit. The property holds 36 transient licenses, eliminating the need for additional ROGO.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Key West
    County
    Monroe
    State
    Florida
    Longitude
    -81.798782
    Latitude
    24.558892

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    FAQs

    What type of property is this?
    Hotel - Hotel/Motel located in Old Town Key West, Florida.
    Where is this hotel located?
    The property is located at 823 Fleming St Key West, FL.
    What is the asking price?
    The asking price for this property is $19,550,000.
    What are key features of this property?
    This property features: - 36 Transient licenses included, meaning no ROGO needed.; - Prime Old Town location: just 2 blocks from Key West Port and walking distance to Duval Street bars/restaurants and historical landmarks.; - Designed for group travelers with private rooms accommodating up to six people, each with their own bed, locker, and towels.
    (305) 294-5155
    Request Owner's contact information
    823 Fleming 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

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    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
    823 Fleming St Key West, FL 33040
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