323 Petronia Street - Key West - $1,795,000

  • 323Petronia-01
  • 323Petronia-02
  • 323Petronia-03
  • 323Petronia-04
  • 323Petronia-05
  • 323Petronia-06
  • 323Petronia-07

Property ID : 573843

For Sale $1,795,000 - Commercial, Old Town
9476 Sq. Ft. (Lot) 5 Bedrooms 6 Bathrooms Print

A rare opportunity in Old Town in the vibrant Petronia St corridor in the Bahama Village neighborhood. Two parcels & Three buildings: (325) Bldg #1 recently upgraded building with retail fronting on Petronia St along with 7 parking spaces, a 1-bedroom vacation rental upstairs (323) Bldgs #2&3 Identical single story buildings in the rear each containing 2 1-bedroom long-term rentals. Given the location and the 9476 sf lot with parking, these parcels are ripe for redevelopment (with City Planning Board approval) or conversion to vacation rentals. There is space for more commercial on Petronia St and the razing of bldgs #2&3 for 4 units, total of 5 vacation rental complex amidst tropical gardens and pool. Or, simply renovate bldgs #2&3 for long-term or vacation rentals to increase income stream potential. Listed at a 6.4% cap rate, and located in the City’s transient receiver zone.

Additional Details

  • Built: 1978

Contact Truman & Co

Whether you are buying or selling, contact us for help in the process. Office: 305-292-2244

Property Map

You May Also Like