Historic Retail Building with Three
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 Market351
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 #BK612006
(305) 902-2447
Added: Sep 11, 2025
Changed: Aug 19
Last Checked: Aug 27 at 3:06PM
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.
This historic retail building, built in 1918, contains three commercial units within a 3,424-square-foot structure. The property is presented as a turnkey investment with 100% occupancy, and it is suitable for street retail or other retail uses consistent with the configuration of the existing storefront spaces.
The property is located at 718–720 Caroline Street in Key West, Florida, in zoning HNC(1-3) - Hist Nghborhd. The current operating businesses are not for sale, and all inquiries should respect the instruction not to disturb tenants.
Offered for sale as a multi-unit storefront asset, the building provides investors with a three-unit commercial setup designed for continued retail occupancy.
The property is located at 718–720 Caroline Street in Key West, Florida, in zoning HNC(1-3) - Hist Nghborhd. The current operating businesses are not for sale, and all inquiries should respect the instruction not to disturb tenants.
Offered for sale as a multi-unit storefront asset, the building provides investors with a three-unit commercial setup designed for continued retail occupancy.
Key Highlights
- 6.5% Cap Rate: Presents a strong return on investment.
- 100% Occupancy: Ensures immediate income stream with established tenants.
- Prime Location on Caroline Street in Key West's sought‑after commercial district.
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic 3,424 SF storefront building features three commercial units and is offered for sale with 100% occupancy.
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: 6.5% Cap Rate: Presents a strong return on investment.; 100% Occupancy: Ensures immediate income stream with established tenants.; Prime Location on Caroline Street in Key West's sought‑after commercial district.
