402 Applerouth Lane, Key West, FL 33040

$2,490,000

Property Type: Commercial Sale Bedrooms: 3 Baths: 8 Lot Size (sq. ft.): 3,636 Status: Active

Current Price: $2,490,000 List Date: 10/26/2026 Last Modified: 10/26/2026

Overview

Description

**6%+ Cap Rate Opportunity ** Now offered at $2,490,000, this income producing Old Town property offers strong cash flow and immediate investor appeal. Located just steps from Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X Flood Zone location. This mixed use property has income potential from residential and commercial units. With over 5000sqft of interior space this iconic structure showcases tall ceilings, historic architectural character and custom artistic details that give it Old Town Charm. Appelrouth Lane is known for strong foot traffic, established neighboring businesses and a desirable central location. just minutes from restaurants, galleries, shopping and Key West nightlife. Opportunities like this are exceptionally rare.

Listing Details MLS# 621784

Location, Tax & Legal

Street #: 402
Street Name: Applerouth
Street Suffix: Lane
Key/Island: Key West
State/Province: FL
Zip Code: 33040
Subdivision: Jack Sq Prof Cent (1.0)
County: Monroe
Area: 01 - Key West
KW Neighborhood: Old Town-N of Truman
City: KEY WEST
Mile Marker: 1
Marathon Neighborhood: N/A
Side: Median
Flood Zone: X Flood Zone
Alternate Key #: 8775628
Parcel #: 00010000000101
Zoning: HRO - Historic Residential/Office
Legal: Jackson Square Professional Center A Condominium Kw Pt Lot 4 Sqr 50 (Formerly Re 1000-000100) Or1048-870/929Dec Or1066-9
Taxes: 14665
Tax Year: 2025

Contract Information

Listing Board: Key West Association
Limited Representation: No
Potential Short Sale: No
Bank Owned: No

General Property Description

Realtor.COM Type: Commercial
Style: Commercial
Lot SqFt: 3636
Waterfront: No
# Stories: 3
Year Built: 1943
Total Bedrooms: 3
Full Baths: 6
Half Baths: 2
Total Baths: 8
Control Depth: 0

Association Info

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

Financial Status

Bank Owned: No
Potential Short Sale: No

More Information

Remarks & Misc

Remarks – Consumer: **6%+ Cap Rate Opportunity ** Now offered at $2,490,000, this income producing Old Town property offers strong cash flow and immediate investor appeal. Located just steps from Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X Flood Zone location. This mixed use property has income potential from residential and commercial units. With over 5000sqft of interior space this iconic structure showcases tall ceilings, historic architectural character and custom artistic details that give it Old Town Charm. Appelrouth Lane is known for strong foot traffic, established neighboring businesses and a desirable central location. just minutes from restaurants, galleries, shopping and Key West nightlife. Opportunities like this are exceptionally rare.
Directions: Located Between 500 blocks of Duval Street and Whitehead.

Type

Apartment 3 or more: Yes
Office Buildings: Yes
Professional Service: Yes

Fee Includes

None: Yes

Dockage

None: Yes

Accounts & Meters

# Water Meters: Yes
# Electric Meters: 3

Appliances

Refrigerator: Yes

Cooling

Ceiling Fans(s): Yes
Central Air: Yes
Wall/Window Unit(s): Yes

Waterfront

None: Yes

Waterview

No Waterview: Yes

Floor

Combo: Yes
Wood: Yes

Construction

Frame: Yes

Land Size

Less Than 1/4 Acre: Yes

Utilities

FKAA: Yes
Municipal Sewer: Yes

Property Rights

Multi-Use/Commercial: Yes

Miscellaneous

High Traffc Location: Yes
High Visibility: Yes

Roof

Metal Roof: Yes

Property Features

Type: Apartment 3 or more; Office Buildings; Professional Service Waterfront: None Waterview: No Waterview Dockage: None Cooling: Ceiling Fans(s); Central Air; Wall/Window Unit(s) Utilities: FKAA; Municipal Sewer Appliances: Refrigerator Miscellaneous: High Traffc Location; High Visibility Construction: Frame Floor: Combo; Wood Roof: Metal Roof Land Size: Less Than 1/4 Acre Fee Includes: None Property Rights: Multi-Use/Commercial

Listing Office: Preferred Properties (KW)

Last Updated: October - 26 - 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.

Search powered by FBS Products