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$1,495,000
Key West, FL 33040
MLS# 618002
1 beds | 1 baths | 684 sqft
1 / 10
Property Description
Positioned on a rare 5000 Sq Ft. lot at one of the highest natural elevations on the Island, this property represents an exceptional opportunity in the heart of Old Town Key West - where location is everything. Set beneath a canopy of established trees, the site offers shade, privacy and a sense of timeless Old Town Character that is increasingly hard to find. Currently improved with a livable one-bedroom, one bath residence, the true value lies in the land itself. The existing structure provides flexibility - whether as a holding asset, future redevelopment or new build - allowing the next owner to capitalize on one of the most desirable settings in Key West. A full 10 out of 10 walkability Score, steps from world class dining, renowned live music cafes, galleries and the vibrant cultural fabric that defines the Island Lifestyle. A leisurely four minute walk to Duval St. underscores the property's unmatched proximity while maintaining a quieter, more refined residential feel. Opportunities of this caliber, high elevation, generous size lot, premier walkability and a blue chip location - are exceedingly rare. 708 Bakers Lane is a property for the discerning buyer who recognises that in Key West, land in the right spot is the ultimate luxury investment.
Details
Maps
Contract Information
Listing Board: Key West Association
Current Price: $1,495,000
Listing Date: 2026-01-08
List Price: $1,495,000
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
Alternate Key #: 1012246
Parcel #: 00011910-000000
Zoning: HDR - High Density Residential
Deed Restrictions: Unknown
Legal: KW PT LOT 4 SQR 59 OR223-401 OR599-739 OR839-1483 OR923-2393 OR951-1964 OR1042-641 OR1042-643 OR2676-359 OR3067-2431 OR3
Taxes: 9829.97
Tax Year: 2025
Pub Sewer HkUp: Yes
Street #: 708
Street Name: Bakers
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
County: Monroe
Subdivision: Old Town - Unrecord (1.0)
Area: 01 - Key West
General Property Description
Realtor.COM Type: Residential - Single Family
Waterfront: No
Control Depth: 0
Lot SqFt: 4975
Pool: No
Total Units: 0
Acres: 0.11
SqFt Source: Property Data Card
Rentals Allowed: With Restrictions
Min Rental Days: 28
Style: Single Family
Year Built: 1972
Living Apx SqFt: 684
Total Bedrooms: 1
Full Baths: 1
Total Baths: 1
Remarks & Misc
Remarks – Consumer: Positioned on a rare 5000 Sq Ft. lot at one of the highest natural elevations on the Island, this property represents an exceptional opportunity in the heart of Old Town Key West - where location is everything.
Set beneath a canopy of established trees, the site offers shade, privacy and a sense of timeless Old Town Character that is increasingly hard to find.
Currently improved with a livable one-bedroom, one bath residence, the true value lies in the land itself. The existing structure provides flexibility - whether as a holding asset, future redevelopment or new build - allowing the next owner to capitalize on one of the most desirable settings in Key West.
A full 10 out of 10 walkability Score, steps from world class dining, renowned live music cafes, galleries and the vibrant cultural fabric that defines the Island Lifestyle. A leisurely four minute walk to Duval St. underscores the property's unmatched proximity while maintaining a quieter, more refined residential feel.
Opportunities of this caliber, high elevation, generous size lot, premier walkability and a blue chip location - are exceedingly rare. 708 Bakers Lane is a property for the discerning buyer who recognises that in Key West, land in the right spot is the ultimate luxury investment.
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Association Fee $: 0
License Info
# of City License: 1
Fee Includes
None: 1
Dockage
None: 1
Tax Exemptions
None: 1
Appliances
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Pets
Pets Allowed: 1
Waterfront
None: 1
Waterview
No Waterview: 1
Property Condition
Fixer Upper: 1
Building Style
Above Flood: Yes
Ground Level: 1
Stories: 1 Story
Windows/Doors
Jalousie Windows: 1
Vehicle Storage
Car(s): 2
Off Street Parking: 1
Construction
CBS: 1
Land Size
Less Than 1/4 Acre: 1
Furnished
Negotiable: 1
Terms
Cash: 1
Conventional: 1
FHA: 1
VA: 1
Utilities
FKAA: 1
Status Change Info
Status: Active
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Property Condition: Fixer Upper
Building Style: Ground Level
Vehicle Storage: Off Street Parking
Furnished: Negotiable
Utilities: FKAA
Appliances: Microwave; Oven; Range; Refrigerator
Construction: CBS
Pets: Pets Allowed
Land Size: Less Than 1/4 Acre
Terms: Cash; Conventional; FHA; VA
Listing Office: Suzanne Moore Real Estate
Last Updated: January - 11 - 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.