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4 UNITS/ MIXED-USE on Busy Old Town St. 1028 Truman Ave 4,013 SF 100% Leased Retail Building Key West, FL 33040 $2,250,000 ($560.68/SF)
INVESTMENT HIGHLIGHTS
- 4 UNITS TOTAL - 2 Separate Buildings - 1 Commercial Building, 1 Residential Duplex
- NEW CONSTRUCTION - Built to Current Building Codes in 2021, Impact Windows/Doors, Elevator, Flood Gates
- X FLOOD ZONE - Low Insurance Cost
- HIGH TRAFFIC AREA - Busy Truman Ave/US Hwy 1 in Old Town Key West
- PERFECT SPOT TO LIVE/WORK - Rare in Key West
- GREAT RENTAL INCOME
EXECUTIVE SUMMARY
Prime Mixed-Use Investment Opportunity in Key West! Built in 2021 to current building codes, this exceptional 4 unit commercial and residential compound is a rare find in the heart of Key West. A perfect 1031 Exchange candidate, this versatile property includes 2 licensed townhouse residences and 2 licensed commercial units, offering excellent income potential and flexibility.
The commercial building, positioned street-side, is a two-story frame structure with high visibility on Truman Avenue. The ground floor offers approximately 1,112 square feet of open commercial space, while the second floor spans approximately 800 square feet and features a 30-foot-wide balcony overlooking Truman Avenue. An ADA-compliant elevator provides easy access to the second floor. Both levels include fully ADA-compliant restrooms, nine-foot-high ceilings, recessed lighting, ceiling fans, central air conditioning, washer and dryer hookups, and are pre-wired and plumbed for refrigerators and sinks.
At the rear of the property, the residential portion consists of a two-story, common-wall duplex, with each unit offering approximately 1,015 square feet of living space. Designed for comfort and style, each unit features two bedrooms and two and a half bathrooms, vaulted ceilings in the upstairs bedrooms, spacious island kitchens, tile flooring, and private shaded rear decks. The property is thoughtfully designed with a beautifully landscaped common courtyard that separates the commercial and residential buildings, enhancing privacy and curb appeal.
This turnkey mixed-use property presents a rare opportunity to own a high-quality, income-producing asset in one of Key West's most desirable locations. Don't miss out on this exceptional investment! *Note: 3D Tour is only of the 2 residential units.*
The commercial building, positioned street-side, is a two-story frame structure with high visibility on Truman Avenue. The ground floor offers approximately 1,112 square feet of open commercial space, while the second floor spans approximately 800 square feet and features a 30-foot-wide balcony overlooking Truman Avenue. An ADA-compliant elevator provides easy access to the second floor. Both levels include fully ADA-compliant restrooms, nine-foot-high ceilings, recessed lighting, ceiling fans, central air conditioning, washer and dryer hookups, and are pre-wired and plumbed for refrigerators and sinks.
At the rear of the property, the residential portion consists of a two-story, common-wall duplex, with each unit offering approximately 1,015 square feet of living space. Designed for comfort and style, each unit features two bedrooms and two and a half bathrooms, vaulted ceilings in the upstairs bedrooms, spacious island kitchens, tile flooring, and private shaded rear decks. The property is thoughtfully designed with a beautifully landscaped common courtyard that separates the commercial and residential buildings, enhancing privacy and curb appeal.
This turnkey mixed-use property presents a rare opportunity to own a high-quality, income-producing asset in one of Key West's most desirable locations. Don't miss out on this exceptional investment! *Note: 3D Tour is only of the 2 residential units.*
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,013 SF
Building Class
B
Year Built
2020
Price
$2,250,000
Price Per SF
$560.68
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.77
Lot Size
0.12 AC
Zoning
HNC-1 - Hist Nghborhd Comml 1 - 3 Coastal Med
Frontage
50’ on Truman Avenue
AMENITIES
- Courtyard
- Fenced Lot
- Roof Terrace
- Air Conditioning
- Balcony
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00033280-000000 | Improvements Assessment | $773,842 |
| Land Assessment | $1,111,000 | Total Assessment | $1,884,842 |
PROPERTY TAXES
Parcel Number
00033280-000000
Land Assessment
$1,111,000
Improvements Assessment
$773,842
Total Assessment
$1,884,842
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4 UNITS/ MIXED-USE on Busy Old Town St. | 1028 Truman Ave
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