402 Appelrouth Lane, Key West, FL 33040
Mixed Use | 5,980 SqFt
Marketing description
Located in the heart of Old Town Key West and 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.
Investment highlights
The rent roll currently is approximately $15,000 per month.
Beyond its current mixed use potential the third floor offers a more longterm development with the opportunity to create a luxury 2 or 3 bedroom condo. High end residential inventory in Old Town is limited and the ability to add a designer penthouse style unit not only increases the overall rental and resale value but it enhances the property’s appeal for long term appreciation.
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