$5,800,000
Key West, FL 33040
MLS# 614103
Status: Closed
4 baths | 7854 sqft
1 / 33
Property Description
Prime Trophy Investment Property in the heart of Duval St. The Coach Retail Building on the 500 block of Duval St. is a once in a lifetime opportunity! Property has been in the same family ownership since the 1940's. Tapestry aka Coach is a very strong, long term NNN retail tenant. Coach is preparing for a major and expensive upgrade and renovation to their store this summer 2025, all at their expense. Coach retail store occupies the entire ground floor with 51' of Duval St. frontage and a total of approx. 3,937 sf. Coach has been a great tenant in the building since 1998 and have a long term, NNN lease that was recently extended through January 31, 2033 with additional 3 year Option to extend until 2036. Upstairs are 6 professional offices and is completely rented. 2nd floor is 3,937 sf. with 6 individual offices. Upstairs tenants are on gross leases & each has own electric meter. Also a storage room & individual Men & Woman's bathrooms. Combined all tenants provide consistent income with minimal owner management. Valuable large parking lot in rear is 518 Bahama St. Room for 10 + cars plus dumpster and loading area. Both lots total 9,068 sf. 2 story concrete Building is in excellent condition and well maintained. Extensive list of Building repairs and recent renovations available includ. new impact resistant doors and windows & awning replaced on entire first floor storefront, rebuilt rear stairwell, recoat roof, and stormwater disposal well in lot plus many others. Property sits in the 500 Block of Duval St. and sits on high ground in an X flood zone. Thousands of tourists and locals walk by & drive by daily. Neighboring business include Margaritaville, Banana Republic, Kilwin's Fudge, Jack Flats, Gap, CVS & Walgreens, San Carlos Institute and more. Perfect investment for a1031 Exchange and/ or long term investor.
Details
Maps
Contract Information
Current Price: $5,800,000
Listing Date: 2025-03-07
Listing Board: Key West Association
Leased Price Monthly: $5,800,000
Limited Representation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No
Species List: No
Location, Tax & Legal
Street #: 517 Duval
Street Name: & 518 Bahama
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unrecord (1.0)
County: Monroe
Area: 01 - Key West
General Property Description
Realtor.COM Type: Commercial
Style: Commercial
Lot Size: 9068
Lot SqFt: 9068
Waterfront: No
Year Established: 1932-12-31
# Parking Spaces: 10+
Off Street Parking: yes
# Stories: 2
Total # Buildings: 1
Building SqFt: 7854
Living Apx SqFt: 7854
Total Units: 7
Year Built: 1933
Half Baths: 4
Total Baths: 4
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Auction Info
Auction: No
Financial Status
Bank Owned: No
Potential Short Sale: No
Status Change Info
Under Contract Date: 2025-09-22
Leased Date: 2025-09-30
Leased Price Monthly: $5,800,000
Status: Closed
Property Features
Deed Restrictions: No
License Info: Other/See Remarks
Type: Office Buildings; Professional Service; Retail
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Assigned Parking; Off Street Parking
Cooling: Central Air; Wall/Window Unit(s)
Utilities: FKAA; Municipal Sewer
Interior Features: Entrance Foyer
Appliances: No Appliances
Miscellaneous: High Traffc Location; High Visibility; Manager on Premises; Storage
Construction: CBS
Electric: 220 Volt
Shutters: Accordion
Floor: Other
Roof: Other Roof
Land Size: More than 1 Lot
Fee Includes: Other
Title: Negotiable
Tenant Paid: Cable; Electric; Garbage; Insurance; Taxes
Listing Office: RE/MAX Keys Connection (KW)
Last Updated: September - 30 - 2025
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