Turnkey Retail Condominium
1012 Truman Avenue Key West, FL 33040
For Sale
$439,000
COMMERCIAL - Key West, FL
Property Size718 SF
Lot Size3,490.99 Acres
Price / SF$611.42
Days on Market47
Property Features for 1012 Truman Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- HNC(1-3) - Hist Nghborhd
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Appliances
- No Appliances, Washer, Dryer
- Standard status
- Active
- APN
- 00031231000600
- Size
- 718 SF
- Lot size
- 3,490.99 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Unit 6 Mariposa Condominium Of Key West Or2286-1526/83 Or2315-1641 Or2578-989/90 Or2634-68/69 Or2909-1326/27 Or2915-2139
- Tax Annual Amount
- 3583
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1923
- Flooring type
- Laminate, Tile
- Building materials
- Frame
- Roof type
- Metal
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 294-5155
Listed By:
Damian Vantriglia · License #3412425
(305) 741-9411
Added: Jun 8
Changed: Jul 6
Last Checked: Jul 24 at 11:06AM
MLS# 620196
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.
This for-sale commercial condominium suite is configured as a retail space with a renovated bath and recent interior improvements, including new flooring and fresh interior paint. The layout is suited to professional services or retail use where a clean, ready-to-occupy interior matters.
The property is located at 1012 Truman Avenue in Key West, positioned along a high-visibility commercial corridor in Old Town. Zoning is listed as HNC(1-3) - Hist Nghborhd. The unit is part of a condominium association with HOA dues of $576 per month, which includes building insurance, exterior maintenance, and common area care.
The renovated interior and straightforward retail/office-leaning configuration can support a range of storefront-oriented concepts, including retail, professional office, salon, or gallery use. Prospective occupants and buyers should review the HNC(1-3) - Hist Nghborhd zoning requirements for specific permitted uses and confirm any tenant or operational considerations during due diligence.
The property is located at 1012 Truman Avenue in Key West, positioned along a high-visibility commercial corridor in Old Town. Zoning is listed as HNC(1-3) - Hist Nghborhd. The unit is part of a condominium association with HOA dues of $576 per month, which includes building insurance, exterior maintenance, and common area care.
The renovated interior and straightforward retail/office-leaning configuration can support a range of storefront-oriented concepts, including retail, professional office, salon, or gallery use. Prospective occupants and buyers should review the HNC(1-3) - Hist Nghborhd zoning requirements for specific permitted uses and confirm any tenant or operational considerations during due diligence.
Key Highlights
- Commercial condominium in Old Town Key West on Truman Avenue
- 8% CAP RATE as stated in the listing
- Recent updates include new flooring, fresh interior paint, and a renovated bathroom
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.5k | $30.00 |
| − Vacancy | −$3.5k | −$4.86 |
| EGI | $18.1k | $25.14 |
| − OpEx | −$4.5k | −$6.29 |
| NOI | $13.5k | $18.86 |
718 SF · lease $30.00/SF/yr · vacancy 16.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$193.4K
$169.2K – $225.6K
NOI $13,538 @ 7.0% cap · market cap 3.08%
Second Best
Retail
$139.1K
$121.7K – $162.3K
NOI $9,738 @ 7.0% cap · market cap 2.22%
Theoretical Best
Office A
$288.8K
$252.7K – $337.0K
NOI $20,217 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Christopher Ferrer
Artist
Full Range Images
Marketing & Advertising
Gallery 1:11
Art Gallery
Real Estate of Key ...
Real Estate Agency
Key West Residential
Real Estate Agency
FAQs
What type of property is this?
Retail space - Turnkey retail condo with updated flooring and paint, plus HOA coverage for building and common area maintenance.
Where is this retail space located?
The property is located at 1012 Truman Avenue Key West, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Commercial condominium in Old Town Key West on Truman Avenue; 8% CAP RATE as stated in the listing; Recent updates include new flooring, fresh interior paint, and a renovated bathroom
