Historic Three-Unit
For Sale
$2,095,000
718720 Caroline Street, Key West, FL 33040
Occupied commercial units offer retail and street-retail space in a historic Key West building.
Property Size3,424 SF
Price / SF$611.86
Days on Market365
Property Features for 718720 Caroline Street
General Information
Standard status
Active
Size
3,424 SF
Property subtype
General Commercial
Occupancy
100%
Additional Details
Cap Rate
6.5%
Taxes and HOA fees
Annual Taxes
$2,781
Amenities
3
61.9 X 74, 0
Building Details
Year Built
1918
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 902-2447
Listed By:
Team Gardner/Langley · License #KWA.2032
(305) 902-2447
Source:
Xome
Added: Sep 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Knight & Gardner Realty
Investment Insights
Based on property information with market context.
Located at 718-720 Caroline Street in Key West, this 3,424-square-foot storefront property contains three commercial units configured for retail or street-retail use. The building dates to 1918 and retains a historic architectural character, with the improvements described as meticulously maintained.
All three units are currently occupied, producing a 100% occupancy rate. The property is offered with a 6.5% cap rate, while the operating businesses are excluded from the sale. Its storefront format and multi-unit layout create a commercial ownership profile within Key West’s established setting.
All three units are currently occupied, producing a 100% occupancy rate. The property is offered with a 6.5% cap rate, while the operating businesses are excluded from the sale. Its storefront format and multi-unit layout create a commercial ownership profile within Key West’s established setting.
Key Highlights
- 3,424 SF building with three commercial units
- Built in 1918 with historic architectural character
- 100% current occupancy
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,049
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
0.4 miles
Wendy's
Dining
19,101 visits/mo
0.4 miles
Fausto's Food Palace
Groceries
10,002 visits/mo
0.3 miles
River Street Sweets
Groceries
8,601 visits/mo
0.4 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 - Occupied commercial units offer retail and street-retail space in a historic Key West building.
Where is this storefront property located?
The property is located at 718720 Caroline Street Key West, FL.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 3,424 SF building with three commercial units; Built in 1918 with historic architectural character; 100% current occupancy
