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$2,490,000
Key West, FL 33040
MLS# 617030
3 beds | 8 baths
1 / 38
Property Description
**6%+ Cap Rate Opportunity ** Now offered at $2,490,000, this income producing Old Town property offers strong cash flow and immediate investor appeal. Located just steps from Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X Flood Zone location. This mixed use property has income potential from residential and commercial units. With over 5000sqft of interior space this iconic structure showcases tall ceilings, historic architectural character and custom artistic details that give it Old Town Charm. Appelrouth Lane is known for strong foot traffic, established neighboring businesses and a desirable central location. just minutes from restaurants, galleries, shopping and Key West nightlife. Opportunities like this are exceptionally rare.
Details
Maps
Contract Information
Listing Board: Key West Association
Limited Representation: No
Potential Short Sale: No
Bank Owned: No
Current Price: $2,490,000
Listing Date: 2025-10-24
List Price: $2,490,000
Location, Tax & Legal
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: X Flood Zone
Alternate Key #: 8775628
Parcel #: 00010000-000101
Zoning: HRO - Historic Residential/Office
Legal: Jackson Square Professional Center a Condominium KW PT Lot 4 SQR 50
Taxes: 14665
Tax Year: 2025
Street #: 402
Street Name: Appelrouth
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Jack Sq Prof Cent (1.0)
County: Monroe
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Waterfront: No
Control Depth: 0
Lot Size: 44.25 x 82.17
Lot SqFt: 3636
# Stories: 3
Style: Commercial
Year Built: 1943
Total Bedrooms: 3
Full Baths: 6
Half Baths: 2
Total Baths: 8
Remarks & Misc
Remarks – Consumer: **6%+ Cap Rate Opportunity ** Now offered at $2,490,000, this income producing Old Town property offers strong cash flow and immediate investor appeal.
Located just steps from Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X Flood Zone location. This mixed use property has income potential from residential and commercial units. With over 5000sqft of interior space this iconic structure showcases tall ceilings, historic architectural character and custom artistic details that give it Old Town Charm. Appelrouth Lane is known for strong foot traffic, established neighboring businesses and a desirable central location. just minutes from restaurants, galleries, shopping and Key West nightlife. Opportunities like this are exceptionally rare.
Directions: Located between the 500 blocks of Duval Street and Whitehead
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Type
Apartment 3 or more: 1
Office Buildings: 1
Professional Service: 1
Fee Includes
None: 1
Dockage
None: 1
Accounts & Meters
# Water Meters: 1
# Electric Meters: 3
Appliances
Refrigerator: 1
Cooling
Ceiling Fans(s): 1
Central Air: 1
Wall/Window Unit(s): 1
Waterfront
None: 1
Waterview
No Waterview: 1
Floor
Combo: 1
Wood: 1
Construction
Frame: 1
Land Size
Less Than 1/4 Acre: 1
Utilities
FKAA: 1
Municipal Sewer: 1
Property Rights
Multi-Use/Commercial: 1
Miscellaneous
High Traffc Location: 1
High Visibility: 1
Roof
Metal Roof: 1
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Status: Active
Property Features
Type: Apartment 3 or more; Office Buildings; Professional Service
Waterfront: None
Waterview: No Waterview
Dockage: None
Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Appliances: Refrigerator
Miscellaneous: High Traffc Location; High Visibility
Construction: Frame
Floor: Combo; Wood
Roof: Metal Roof
Land Size: Less Than 1/4 Acre
Fee Includes: None
Property Rights: Multi-Use/Commercial
Listing Office: Preferred Properties (KW)
Last Updated: March - 02 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.