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Prime Trophy Investment Property in the heart of Duval Street 517 Duval Street, Key West, FL 33040
Shopping Center / Retail
Office Retail
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.
Area Description
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.
Highlights
Prime Trophy Investment Property in the heart of Duval Street, Tapestry aka Coach is a very strong, long term NNN retail tenant, Upstairs are 6 professional offices and is completely rented, Valuable large parking lot in rear is 518 Bahama Street
Full Address: 517 Duval Street, Key West, FL 33040
Listing Type: FOR SALE
Status: Sold
Occupancy Rate: 100%
Zoning: HRCC(1 - 4) - Hist Res Comm Core 1-4 SF Specl
Region: S-SE
County: Monroe County
Use Type: Retail - Office - Store Combo
Property ID: 4070398
Building Construction: C.B.S.
Building Sf: 7,854
Parcel Num: 00009620-000000, 00009620-000000
Number Units: 7
Number Buildings: 1
Year Built: 1933
Year Renovation: 2010
Number Parking Spaces: 10
Commission Comments: COOPERATIVE COMMISSIONS OR 25% REFERRAL FEES WITH NO HASSLE TO BROKERS!
Tenancy Type: Multi-Tenant
Prime Trophy Investment Property in the heart of Duval Street, Tapestry aka Coach is a very strong, long term NNN retail tenant, Upstairs are 6 professional offices and is completely rented, Valuable large parking lot in rear is 518 Bahama Street