223 Petronia Street, Key West, FL 33040

$1,500,000

Property Type: Commercial Sale Baths: 3 Square Footage: 2,132 Lot Size (sq. ft.): 1,906 Status: Closed

Current Price: $1,500,000 List Date: 5/06/2025 Last Modified: 4/17/2026

Overview

Description

Rare commercial property for sale on the vibrant Petronia Street Corridor in Bahama Village! Spanning 2,132 square feet over two stories—plus a third-floor storage area—this spacious property includes a covered balcony and a fully equipped commercial kitchen. Currently configured as a 98-seat restaurant, the space can be easily reimagined for a variety of uses thanks to its flexible HNCD zoning. Whether you're dreaming of a boutique retail space, creative office hub, wellness studio, or café, this property is a blank canvas for your next venture. In addition to being offered for sale, the property is also available for lease at $12,000/month + triple net (NNN), offering multiple options for those looking to establish a business in a prime Key West location. Surrounded by some of Key West's most beloved destinations—just steps from Blue Heaven and Santiago's Bodega—you'll also benefit from proximity to the Truman Waterfront Park, Coffee Butler Amphitheater, Fort Zacha ... (Read more)

Listing Details MLS# 614906

Location, Tax & Legal

Street #: 223
Street Name: Petronia
Street Suffix: Street
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Old Town - Unlisted (1.0)
County: Monroe
Area: 02 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: 0.2 PCT ANNUAL CHANC
Alternate Key #: 8822243
Parcel #: 00013580-000100
Zoning: HNC(1-3) - Hist Nghborhd Comml 1 - 3 Coastal Med
Taxes: 7343.5
Tax Year: 2023

Contract Information

Listing Board: Key West Association
Limited Representation: No
As is Rght to Inspct: Yes
For Sale/Lease: For Sale
Potential Short Sale: No
Bank Owned: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 1906
Waterfront: No
# Stories: 2
Building SqFt: 2132
SqFt Source: Property Data Card
Living Apx SqFt: 2132
Year Built: 2001
Half Baths: 3
Total Baths: 3
Control Depth: 0
Total Units: 0

Status Change Info

Under Contract Date: 2025-06-25
Sold Date: 2025-07-31

Association Info

Mandatory Home Owners Asc: No
1st Right of Refusal: No

Appliances

Other: Ask List Agent

More Information

Financial Status

Bank Owned: No
Potential Short Sale: No

Remarks & Misc

Remarks – Consumer: Rare commercial property for sale on the vibrant Petronia Street Corridor in Bahama Village! Spanning 2,132 square feet over two stories—plus a third-floor storage area—this spacious property includes a covered balcony and a fully equipped commercial kitchen. Currently configured as a 98-seat restaurant, the space can be easily reimagined for a variety of uses thanks to its flexible HNCD zoning. Whether you're dreaming of a boutique retail space, creative office hub, wellness studio, or café, this property is a blank canvas for your next venture. In addition to being offered for sale, the property is also available for lease at $12,000/month + triple net (NNN), offering multiple options for those looking to establish a business in a prime Key West location. Surrounded by some of Key West's most beloved destinations—just steps from Blue Heaven and Santiago's Bodega—you'll also benefit from proximity to the Truman Waterfront Park, Coffee Butler Amphitheater, Fort Zachary Taylor, and brand-new residential developments just two blocks away. Tap into the energy of Bahama Village and make your mark in one of Key West's most iconic neighborhoods.

License Info

2-Cop (Beer & Wine): Yes

Type

Office Buildings: Yes
Other Comrcl Style: Yes
Professional Service: Yes
Restaurant: Yes
Retail: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Cooling

Central Air: Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Rights

Beverage License: Yes

Miscellaneous

Handicap Access: Yes
High Traffc Location: Yes
High Visibility: Yes
Patio: Yes

Property Features

License Info: 2-Cop (Beer & Wine) Type: Office Buildings; Other Comrcl Style; Professional Service; Restaurant; Retail Waterfront: None Waterview: No Waterview Dockage: None Cooling: Central Air Utilities: FKAA; Municipal Sewer Miscellaneous: Handicap Access; High Traffc Location; High Visibility; Patio Construction: Frame Land Size: Less Than 1/4 Acre Fee Includes: None Property Rights: Beverage License

Listing Office: eXp Realty LLC

Last Updated: April - 17 - 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.

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