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532 Margaret St 3,161 SF Retail Building Key West, FL 33040 $2,950,000 ($933.25/SF)
Executive Summary
Completely remodeled from top to bottom, this turnkey restaurant in the heart of Old Town Key West offers a rare opportunity to own a fully updated and licensed 150-seat dining destination. Every inch of the property has been thoughtfully renovated, including brand-new electrical, plumbing, HVAC, flooring, lighting, and fixtures, creating a fresh, modern space that still captures the charm and character of historic Key West. The layout features expansive indoor-outdoor dining areas, a stylish full-service bar, and newly designed restrooms, all tailored for comfort, ambiance, and efficient flow. The commercial-grade kitchen is fully equipped with state-of-the-art appliances, ample prep space, and storage, making it ideal for high-volume service across a wide range of culinary concepts. Adding to its versatility, the property also includes a beautifully updated 1-bedroom, 1-bathroom apartment upstairs—perfect for on-site living, staff housing, or additional rental income.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,161 SF
Building Class
C
Year Built
1958
Price
$2,950,000
Price Per SF
$933.25
Tenancy
Single
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.07 AC
Zoning
HNC - 2 - Historic Neighborhood Commercial District
Parking
1 Spaces (0.32 Spaces per 1,000 SF Leased)
Amenities
- Courtyard
- Restaurant
- Storage Space
- Air Conditioning
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (100)
Nearby Major Retailers
Property Taxes
| Parcel Number | 00008110-000000 | Improvements Assessment | $761,276 |
| Land Assessment | $1,239,521 | Total Assessment | $2,000,797 |
Property Taxes
Parcel Number
00008110-000000
Land Assessment
$1,239,521
Improvements Assessment
$761,276
Total Assessment
$2,000,797
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532 Margaret St
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